BellRing Brands Inc. $BRBR Stock Position Lifted by Independence Bank of Kentucky

Key Points

• Independence Bank of Kentucky increased its stake in BellRing Brands Inc. by 91.5% during Q2, owning 22,634 shares valued at approximately $1.3 million.
• In its latest earnings report, BellRing Brands exceeded analyst expectations with $0.55 EPS and a revenue of $547.5 million, marking a 6.2% increase year-over-year.
• The company initiated a $400 million share repurchase plan, indicating that its board believes the stock is undervalued, and institutional investors now own about 94.97% of its stock.

Independence Bank of Kentucky grew its position in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) by 91.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,634 shares of the company's stock after buying an additional 10,814 shares during the period. Independence Bank of Kentucky's holdings in BellRing Brands were worth $1,311,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. TD Private Client Wealth LLC lifted its holdings in BellRing Brands by 1,187.9% during the 2nd quarter. TD Private Client Wealth LLC now owns 2,022 shares of the company's stock worth $117,000 after buying an additional 1,865 shares during the last quarter. Maseco LLP bought a new position in BellRing Brands during the 2nd quarter worth approximately $25,000. Harbour Capital Advisors LLC raised its position in shares of BellRing Brands by 137.8% during the 2nd quarter. Harbour Capital Advisors LLC now owns 32,115 shares of the company's stock worth $1,847,000 after purchasing an additional 18,610 shares during the period. TT International Asset Management LTD raised its position in shares of BellRing Brands by 199.8% during the 2nd quarter. TT International Asset Management LTD now owns 73,616 shares of the company's stock worth $4,265,000 after purchasing an additional 49,064 shares during the period. Finally, Gateway Investment Advisers LLC raised its position in shares of BellRing Brands by 6.8% during the 2nd quarter. Gateway Investment Advisers LLC now owns 19,574 shares of the company's stock worth $1,134,000 after purchasing an additional 1,238 shares during the period. Institutional investors own 94.97% of the company's stock.

BellRing Brands Price Performance

Shares of BRBR stock opened at $36.77 on Monday. BellRing Brands Inc. has a 12-month low of $34.02 and a 12-month high of $80.67. The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 1.83 and a beta of 0.74. The business has a 50 day simple moving average of $42.20 and a 200 day simple moving average of $57.73.

BellRing Brands (NYSE:BRBR - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.49 by $0.06. BellRing Brands had a negative return on equity of 123.43% and a net margin of 10.26%.The business had revenue of $547.50 million during the quarter, compared to analyst estimates of $530.76 million. During the same period in the prior year, the company posted $0.54 EPS. The business's revenue for the quarter was up 6.2% compared to the same quarter last year. BellRing Brands has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that BellRing Brands Inc. will post 2.23 EPS for the current fiscal year.

BellRing Brands declared that its Board of Directors has initiated a share repurchase plan on Tuesday, September 2nd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the company to purchase up to 7.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Morgan Stanley dropped their price target on BellRing Brands from $78.00 to $58.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 6th. UBS Group dropped their price target on BellRing Brands from $63.00 to $40.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Mizuho dropped their price target on BellRing Brands from $75.00 to $45.00 and set an "outperform" rating on the stock in a research report on Monday, August 18th. Jefferies Financial Group increased their price target on BellRing Brands from $80.00 to $82.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. assumed coverage on BellRing Brands in a research report on Wednesday, August 20th. They set an "overweight" rating and a $52.00 price target on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $64.80.

Insider Buying and Selling at BellRing Brands

In other BellRing Brands news, CEO Darcy Horn Davenport sold 1,600 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $54.18, for a total transaction of $86,688.00. Following the completion of the transaction, the chief executive officer directly owned 193,978 shares of the company's stock, valued at approximately $10,509,728.04. This trade represents a 0.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Craig L. Rosenthal purchased 2,600 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were purchased at an average cost of $37.29 per share, with a total value of $96,954.00. Following the completion of the purchase, the insider owned 33,475 shares in the company, valued at $1,248,282.75. This represents a 8.42% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 6,616 shares of company stock valued at $65,995,248 and sold 8,000 shares valued at $450,272. 1.07% of the stock is currently owned by corporate insiders.

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.

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