AGF Management Ltd. Sells 2,219 Shares of BellRing Brands, Inc. (NYSE:BRBR)

AGF Management Ltd. lowered its stake in BellRing Brands, Inc. (NYSE:BRBR) by 0.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 272,583 shares of the company’s stock after selling 2,219 shares during the quarter. AGF Management Ltd. owned 0.21% of BellRing Brands worth $15,575,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BRBR. Opal Wealth Advisors LLC bought a new position in shares of BellRing Brands during the second quarter valued at approximately $28,000. Rise Advisors LLC bought a new position in shares of BellRing Brands during the first quarter valued at approximately $32,000. Parallel Advisors LLC raised its holdings in shares of BellRing Brands by 153.6% during the fourth quarter. Parallel Advisors LLC now owns 596 shares of the company’s stock valued at $33,000 after acquiring an additional 361 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of BellRing Brands by 165.3% during the second quarter. GAMMA Investing LLC now owns 987 shares of the company’s stock valued at $56,000 after acquiring an additional 615 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of BellRing Brands by 51.4% during the second quarter. Fifth Third Bancorp now owns 1,102 shares of the company’s stock valued at $63,000 after acquiring an additional 374 shares in the last quarter. Institutional investors own 94.97% of the company’s stock.

BellRing Brands Price Performance

BellRing Brands stock opened at $58.01 on Thursday. BellRing Brands, Inc. has a one year low of $39.90 and a one year high of $62.76. The stock has a market capitalization of $7.57 billion, a PE ratio of 40.28, a price-to-earnings-growth ratio of 1.48 and a beta of 0.85. The business’s fifty day moving average is $54.17 and its 200 day moving average is $56.59.

BellRing Brands (NYSE:BRBR) last released its quarterly earnings data on Monday, August 5th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.44 by $0.10. BellRing Brands had a negative return on equity of 88.30% and a net margin of 11.55%. The company had revenue of $515.40 million for the quarter, compared to analysts’ expectations of $504.73 million. During the same period last year, the firm posted $0.34 earnings per share. BellRing Brands’s revenue was up 15.6% compared to the same quarter last year. As a group, sell-side analysts expect that BellRing Brands, Inc. will post 1.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Stephens reiterated an “equal weight” rating and issued a $55.00 price objective on shares of BellRing Brands in a report on Tuesday, August 6th. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 price objective on shares of BellRing Brands in a report on Tuesday, August 6th. JPMorgan Chase & Co. decreased their price objective on BellRing Brands from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on BellRing Brands from $67.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $62.64.

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.