Independence Bank of Kentucky Buys 7,050 Shares of BellRing Brands, Inc. (NYSE:BRBR)

Independence Bank of Kentucky boosted its holdings in BellRing Brands, Inc. (NYSE:BRBR - Free Report) by 147.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 reporting period.

Several other large investors have also bought and sold shares of the business. Merit Financial Group LLC lifted its holdings in shares of BellRing Brands by 17.7% in the first quarter. Merit Financial Group LLC now owns 11,023 shares of the company's stock worth $821,000 after acquiring an additional 1,654 shares during the last quarter. NBC Securities Inc. increased its position in BellRing Brands by 168,300.0% during the 1st quarter. NBC Securities Inc. now owns 1,684 shares of the company's stock worth $125,000 after purchasing an additional 1,683 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in BellRing Brands by 9.0% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 5,088 shares of the company's stock valued at $379,000 after purchasing an additional 419 shares during the last quarter. Summit Global Investments lifted its stake in BellRing Brands by 7.1% in the 1st quarter. Summit Global Investments now owns 24,351 shares of the company's stock valued at $1,813,000 after purchasing an additional 1,623 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in BellRing Brands by 8,255.1% in the first quarter. GAMMA Investing LLC now owns 172,449 shares of the company's stock valued at $12,841,000 after buying an additional 170,385 shares in the last quarter. 94.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on BRBR. UBS Group lowered their price target on shares of BellRing Brands from $81.00 to $71.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Morgan Stanley initiated coverage on BellRing Brands in a research report on Monday, March 24th. They set an "overweight" rating and a $84.00 price objective on the stock. Truist Financial lowered their target price on BellRing Brands from $75.00 to $65.00 and set a "hold" rating for the company in a report on Thursday, May 8th. Citigroup cut their price target on BellRing Brands from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Finally, DA Davidson upgraded BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 price target on the stock in a report on Tuesday, May 27th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, BellRing Brands presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.00.

Insider Transactions at BellRing Brands

In related news, 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 completion of the sale, the insider now owns 57,836 shares of the company's stock, valued at $4,345,218.68. This trade represents a 5.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Darcy Horn Davenport sold 1,600 shares of BellRing Brands stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $60.58, for a total value of $96,928.00. Following the completion of the sale, the chief executive officer now owns 206,778 shares of the company's stock, valued at approximately $12,526,611.24. The trade was a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,392 shares of company stock valued at $437,399. Corporate insiders own 1.07% of the company's stock.

BellRing Brands Stock Down 2.4%

BellRing Brands stock traded down $1.50 during mid-day trading on Wednesday, hitting $59.83. 1,252,614 shares of the stock were exchanged, compared to its average volume of 1,372,758. The stock has a market capitalization of $7.60 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 2.24 and a beta of 0.74. BellRing Brands, Inc. has a 12 month low of $48.06 and a 12 month high of $80.67. The firm's fifty day simple moving average is $68.33 and its two-hundred day simple moving average is $72.41.

BellRing Brands (NYSE:BRBR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. The company had revenue of $588.00 million during the quarter, compared to analysts' expectations of $577.56 million. BellRing Brands had a net margin of 13.32% and a negative return on equity of 130.14%. BellRing Brands's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.45 earnings per share. As a group, analysts forecast that BellRing Brands, Inc. will post 2.23 earnings per share for the current fiscal year.

BellRing Brands declared that its board has initiated a share buyback plan on Thursday, March 6th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its shares are undervalued.

BellRing Brands 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.