California State Teachers Retirement System Has $617.13 Million Stake in Bread Financial Holdings, Inc. $BFH

Key Points

• California State Teachers Retirement System increased its Bread Financial stake by 10,413.6% to 5.7 million shares, valued at approximately $617.1 million and representing 14.82% of the company. Institutional investors collectively own 99.52% of BFH.
• Bread Financial exceeded quarterly expectations, reporting $3.55 in earnings per share versus the $2.74 consensus estimate and $993 million in revenue. Revenue rose 6.9% year over year.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $112.29. The company also declared a quarterly dividend of $0.23 per share, yielding about 0.8% annually.

California State Teachers Retirement System grew its holdings in shares of Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) by 10,413.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,695,743 shares of the company's stock after buying an additional 5,641,568 shares during the quarter. California State Teachers Retirement System owned approximately 14.82% of Bread Financial worth $617,134,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BFH. BlackRock Inc. acquired a new stake in shares of Bread Financial in the second quarter valued at about $421,314,000. Dimensional Fund Advisors LP increased its holdings in Bread Financial by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,086,060 shares of the company's stock worth $231,111,000 after buying an additional 9,854 shares during the last quarter. Franklin Resources Inc. raised its position in Bread Financial by 17.3% during the fourth quarter. Franklin Resources Inc. now owns 2,029,894 shares of the company's stock worth $150,273,000 after acquiring an additional 299,439 shares in the last quarter. Hsbc Holdings PLC bought a new stake in Bread Financial during the second quarter worth $98,764,000. Finally, Geode Capital Management LLC lifted its stake in Bread Financial by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 1,159,731 shares of the company's stock valued at $85,866,000 after acquiring an additional 14,257 shares during the last quarter. Institutional investors own 99.52% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on BFH shares. Evercore restated an "outperform" rating and set a $116.00 price objective on shares of Bread Financial in a research note on Monday, July 6th. BTIG Research raised their target price on shares of Bread Financial from $105.00 to $132.00 and gave the company a "buy" rating in a research note on Tuesday, June 30th. Seaport Research Partners reiterated a "buy" rating and set a $119.00 price target on shares of Bread Financial in a report on Monday, July 27th. Wall Street Zen raised Bread Financial from a "hold" rating to a "buy" rating in a research report on Saturday, June 13th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Bread Financial in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Bread Financial has an average rating of "Moderate Buy" and a consensus target price of $112.29.

Bread Financial Stock Performance

Bread Financial stock opened at $109.27 on Tuesday. The business has a 50 day moving average of $105.84 and a 200-day moving average of $92.98. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.17 and a quick ratio of 1.17. Bread Financial Holdings, Inc. has a 1 year low of $53.83 and a 1 year high of $114.53. The company has a market capitalization of $4.20 billion, a P/E ratio of 8.52, a P/E/G ratio of 0.67 and a beta of 1.10.

Bread Financial (NYSE:BFH - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $3.55 earnings per share for the quarter, topping analysts' consensus estimates of $2.74 by $0.81. The business had revenue of $993.00 million during the quarter, compared to the consensus estimate of $959.32 million. Bread Financial had a net margin of 11.95% and a return on equity of 18.42%. Bread Financial's quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.15 earnings per share. On average, equities research analysts predict that Bread Financial Holdings, Inc. will post 12.1 earnings per share for the current year.

Bread Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a dividend of $0.23 per share. The ex-dividend date is Monday, August 31st. This represents a $0.92 annualized dividend and a yield of 0.8%. Bread Financial's payout ratio is 7.18%.

Insiders Place Their Bets

In related news, Director Praniti Lakhwara sold 2,802 shares of the business's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $106.12, for a total value of $297,348.24. Following the transaction, the director directly owned 4,458 shares of the company's stock, valued at approximately $473,082.96. The trade was a 38.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.30% of the company's stock.

Bread Financial Profile

Bread Financial Corporation NYSE: BFH is a financial services company that provides payment, lending and savings solutions for consumers and businesses. Its offerings include private-label and co-branded credit cards, installment loans, buy now, pay later financing and direct-to-consumer savings products.

The company works with retailers and brands to design and manage customized credit programs, including account servicing, underwriting, transaction processing and customer engagement services.

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