Harvest Fund Management Co. Ltd Takes Position in BellRing Brands, Inc. (NYSE:BRBR)

Harvest Fund Management Co. Ltd purchased a new position in shares of BellRing Brands, Inc. (NYSE:BRBR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,213 shares of the company’s stock, valued at approximately $123,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Allworth Financial LP raised its stake in BellRing Brands by 59.2% in the 3rd quarter. Allworth Financial LP now owns 1,008 shares of the company’s stock worth $42,000 after purchasing an additional 375 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of BellRing Brands by 108.2% in the third quarter. Parkside Financial Bank & Trust now owns 1,224 shares of the company’s stock valued at $50,000 after buying an additional 636 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new stake in BellRing Brands during the fourth quarter worth approximately $56,000. Mosaic Family Wealth Partners LLC bought a new position in BellRing Brands during the 4th quarter worth $220,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of BellRing Brands during the 3rd quarter valued at $221,000. Institutional investors own 94.97% of the company’s stock.

BellRing Brands Stock Performance

Shares of BRBR opened at $55.26 on Friday. BellRing Brands, Inc. has a 52-week low of $34.58 and a 52-week high of $62.76. The stock’s 50-day simple moving average is $57.68 and its 200 day simple moving average is $53.50. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of 44.56, a price-to-earnings-growth ratio of 2.11 and a beta of 0.83.

BellRing Brands (NYSE:BRBR) last posted its earnings results on Monday, February 5th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. BellRing Brands had a net margin of 9.52% and a negative return on equity of 56.67%. The business had revenue of $430.40 million for the quarter, compared to analysts’ expectations of $407.91 million. On average, research analysts forecast that BellRing Brands, Inc. will post 1.67 earnings per share for the current fiscal year.

Insider Buying and Selling at BellRing Brands

In other BellRing Brands news, Director Elliot Stein, Jr. sold 1,000 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $57.81, for a total transaction of $57,810.00. Following the completion of the sale, the director now owns 24,646 shares of the company’s stock, valued at approximately $1,424,785.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on BRBR. Stifel Nicolaus lifted their price objective on shares of BellRing Brands from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Stephens reiterated an “equal weight” rating and issued a $51.00 target price on shares of BellRing Brands in a research report on Tuesday, February 6th. Needham & Company LLC increased their target price on shares of BellRing Brands from $52.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Mizuho raised their price target on shares of BellRing Brands from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Finally, Morgan Stanley increased their price objective on shares of BellRing Brands from $61.00 to $65.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.62.

About BellRing Brands

BellRing Brands, Inc, together with its subsidiaries, provides various nutrition products in the United States. The company offers ready-to-drink (RTD) protein shakes, other RTD beverages, powders, nutrition bars, and other products primarily under the Premier Protein and Dymatize brands. It distributes its products through club, food, drug, mass, eCommerce, specialty, and convenience channels.