Healthcare of Ontario Pension Plan Trust Fund Raises Stock Position in BellRing Brands, Inc. (NYSE:BRBR)

Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of BellRing Brands, Inc. (NYSE:BRBR) by 121.3% in the third quarter, HoldingsChannel reports. The fund owned 22,463 shares of the company’s stock after purchasing an additional 12,311 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in BellRing Brands were worth $1,364,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in shares of BellRing Brands during the second quarter worth $28,000. V Square Quantitative Management LLC purchased a new position in BellRing Brands during the 3rd quarter worth $31,000. Farther Finance Advisors LLC increased its position in BellRing Brands by 243.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock valued at $41,000 after buying an additional 474 shares in the last quarter. Truvestments Capital LLC purchased a new stake in BellRing Brands in the third quarter valued at about $44,000. Finally, Quarry LP boosted its holdings in BellRing Brands by 65.3% in the second quarter. Quarry LP now owns 957 shares of the company’s stock worth $55,000 after acquiring an additional 378 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BRBR. Stifel Nicolaus upped their price objective on shares of BellRing Brands from $67.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Bank of America upped their price target on shares of BellRing Brands from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Truist Financial raised their price target on shares of BellRing Brands from $60.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, November 20th. Mizuho upped their target price on BellRing Brands from $72.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Finally, Needham & Company LLC restated a “buy” rating and issued a $66.00 target price on shares of BellRing Brands in a research note on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $75.60.

BellRing Brands Price Performance

NYSE:BRBR opened at $78.46 on Monday. The company has a 50 day moving average price of $67.46 and a 200-day moving average price of $59.99. BellRing Brands, Inc. has a 1-year low of $48.06 and a 1-year high of $79.90. The firm has a market cap of $10.10 billion, a price-to-earnings ratio of 41.96, a price-to-earnings-growth ratio of 2.63 and a beta of 0.84.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings data on Monday, November 18th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. BellRing Brands had a net margin of 12.35% and a negative return on equity of 103.89%. The business had revenue of $555.80 million during the quarter, compared to the consensus estimate of $545.00 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The company’s revenue was up 17.6% compared to the same quarter last year. On average, sell-side analysts anticipate that BellRing Brands, Inc. will post 2.16 earnings per share for the current fiscal year.

BellRing Brands Company Profile

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.