Bank of New York Mellon Corp Sells 117,297 Shares of Booz Allen Hamilton Holding Corporation $BAH

Key Points

• Bank of New York Mellon cut its Booz Allen Hamilton stake by 9.6% in the first quarter, selling 117,297 shares and ending with 1,110,596 shares valued at about $86.7 million.
• Booz Allen Hamilton reported fiscal Q1 earnings of $1.78 per share, topping analyst expectations, but revenue came in below forecasts at $1.91 billion and fell 5.9% year over year.
• The stock was trading down around $63.94, while analysts remain cautious overall with an average rating of “Reduce” and a consensus price target of $79.83.

Bank of New York Mellon Corp reduced its holdings in shares of Booz Allen Hamilton Holding Corporation (NYSE:BAH - Free Report) by 9.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,110,596 shares of the business services provider's stock after selling 117,297 shares during the period. Bank of New York Mellon Corp owned 0.92% of Booz Allen Hamilton worth $86,660,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Booz Allen Hamilton by 22.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,167 shares of the business services provider's stock worth $2,737,000 after purchasing an additional 4,870 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Booz Allen Hamilton by 365.0% during the first quarter. NewEdge Advisors LLC now owns 11,750 shares of the business services provider's stock valued at $1,229,000 after purchasing an additional 9,223 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Booz Allen Hamilton by 53.7% during the second quarter. Sivia Capital Partners LLC now owns 4,460 shares of the business services provider's stock valued at $464,000 after purchasing an additional 1,559 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Booz Allen Hamilton by 132.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,429 shares of the business services provider's stock worth $149,000 after purchasing an additional 815 shares in the last quarter. Finally, Cresset Asset Management LLC boosted its position in shares of Booz Allen Hamilton by 6.2% in the 2nd quarter. Cresset Asset Management LLC now owns 3,257 shares of the business services provider's stock worth $339,000 after purchasing an additional 191 shares in the last quarter. Institutional investors own 91.82% of the company's stock.

Booz Allen Hamilton Trading Down 0.9%

Shares of BAH stock opened at $63.94 on Wednesday. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 3.55. Booz Allen Hamilton Holding Corporation has a 12-month low of $59.50 and a 12-month high of $120.04. The stock has a market capitalization of $7.66 billion, a P/E ratio of 9.28, a P/E/G ratio of 3.64 and a beta of 0.36. The firm's 50 day moving average is $70.63 and its 200 day moving average is $78.59.

Booz Allen Hamilton (NYSE:BAH - Get Free Report) last released its quarterly earnings results on Friday, May 22nd. The business services provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.46. The firm had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $2.87 billion. Booz Allen Hamilton had a return on equity of 76.07% and a net margin of 7.59%.The company's revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.61 EPS. Booz Allen Hamilton has set its FY 2027 guidance at 6.000-6.350 EPS. Research analysts expect that Booz Allen Hamilton Holding Corporation will post 6.31 earnings per share for the current year.

Booz Allen Hamilton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Wednesday, June 10th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.7%. Booz Allen Hamilton's payout ratio is presently 34.25%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BAH shares. The Goldman Sachs Group reduced their price objective on Booz Allen Hamilton from $74.00 to $65.00 and set a "sell" rating for the company in a research report on Tuesday, July 14th. Jefferies Financial Group set a $85.00 target price on Booz Allen Hamilton in a report on Monday, May 11th. BNP Paribas Exane began coverage on Booz Allen Hamilton in a research note on Wednesday, May 27th. They issued a "neutral" rating and a $80.00 target price on the stock. Citigroup reduced their price target on Booz Allen Hamilton from $88.00 to $69.00 and set a "neutral" rating for the company in a report on Wednesday, July 1st. Finally, TD Cowen dropped their price target on shares of Booz Allen Hamilton from $85.00 to $70.00 and set a "hold" rating on the stock in a research note on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $79.83.

Booz Allen Hamilton Profile

Booz Allen Hamilton Holding Corporation is a publicly traded management and technology consulting firm headquartered in McLean, Virginia. The company provides a wide range of professional services and solutions in strategy, analytics, digital transformation, engineering and cyber security. Its expertise spans from supporting federal civilian agencies to defense, intelligence and homeland security organizations, as well as select commercial industries.

Key offerings include data analytics and artificial intelligence applications, software development and modernization, systems integration, and cyber risk management.

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