Independence Bank of Kentucky Has $880,000 Stock Holdings in BellRing Brands, Inc. (NYSE:BRBR)

Independence Bank of Kentucky lifted its holdings in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 147.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,820 shares of the company's stock after buying an additional 7,050 shares during the quarter. Independence Bank of Kentucky's holdings in BellRing Brands were worth $880,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Versant Capital Management Inc raised its stake in shares of BellRing Brands by 1,742.9% in the first quarter. Versant Capital Management Inc now owns 387 shares of the company's stock worth $29,000 after acquiring an additional 366 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of BellRing Brands by 175.8% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the company's stock valued at $33,000 after purchasing an additional 283 shares in the last quarter. Colonial Trust Co SC acquired a new stake in shares of BellRing Brands in the fourth quarter valued at approximately $44,000. Aster Capital Management DIFC Ltd raised its position in BellRing Brands by 747.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company's stock worth $55,000 after purchasing an additional 643 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in BellRing Brands by 180.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 918 shares of the company's stock worth $69,000 after buying an additional 591 shares in the last quarter. Institutional investors and hedge funds own 94.97% of the company's stock.

BellRing Brands Price Performance

NYSE:BRBR opened at $60.96 on Friday. The business's 50-day simple moving average is $68.91 and its 200-day simple moving average is $72.64. BellRing Brands, Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $80.67. The stock has a market capitalization of $7.74 billion, a PE ratio of 28.62, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86.

BellRing Brands (NYSE:BRBR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.53 earnings per share for the quarter, meeting analysts' consensus estimates of $0.53. The firm had revenue of $588.00 million for the quarter, compared to analyst estimates of $577.56 million. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. The business's revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 earnings per share. On average, research analysts expect that BellRing Brands, Inc. will post 2.23 earnings per share for the current year.

BellRing Brands announced that its Board of Directors has initiated a stock repurchase plan on Thursday, March 6th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other BellRing Brands news, CEO Darcy Horn Davenport sold 1,600 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $62.91, for a total value of $100,656.00. Following the sale, the chief executive officer now owns 208,378 shares in the company, valued at approximately $13,109,059.98. The trade was a 0.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Douglas J. Cornille sold 3,192 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $75.13, for a total transaction of $239,814.96. Following the transaction, the insider now directly owns 57,836 shares of the company's stock, valued at $4,345,218.68. This represents a 5.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BRBR. Mizuho decreased their price objective on BellRing Brands from $85.00 to $75.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 28th. DA Davidson raised BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 price target on the stock in a research note on Tuesday, May 27th. Truist Financial lowered their price objective on BellRing Brands from $75.00 to $65.00 and set a "hold" rating for the company in a research report on Thursday, May 8th. UBS Group dropped their price objective on BellRing Brands from $81.00 to $71.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Finally, Citigroup reduced their target price on shares of BellRing Brands from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $77.00.

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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