Wellington Management Group LLP Has $49.18 Million Stock Position in Blue Bird Co. (NASDAQ:BLBD)

Wellington Management Group LLP cut its holdings in Blue Bird Co. (NASDAQ:BLBD) by 10.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,824,179 shares of the company’s stock after selling 204,131 shares during the period. Wellington Management Group LLP owned about 5.67% of Blue Bird worth $49,180,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Brandywine Global Investment Management LLC grew its stake in shares of Blue Bird by 1.9% in the third quarter. Brandywine Global Investment Management LLC now owns 214,774 shares of the company’s stock valued at $4,585,000 after buying an additional 4,100 shares in the last quarter. Federated Hermes Inc. lifted its stake in Blue Bird by 92.3% in the 3rd quarter. Federated Hermes Inc. now owns 83,284 shares of the company’s stock valued at $1,778,000 after purchasing an additional 39,976 shares during the last quarter. Algert Global LLC bought a new position in Blue Bird during the third quarter worth about $1,361,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Blue Bird by 91.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 107,294 shares of the company’s stock worth $2,291,000 after buying an additional 51,205 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its position in shares of Blue Bird by 783.6% in the third quarter. Epoch Investment Partners Inc. now owns 439,159 shares of the company’s stock valued at $9,376,000 after buying an additional 389,459 shares during the last quarter. Institutional investors own 93.59% of the company’s stock.

Wall Street Analysts Forecast Growth

BLBD has been the topic of a number of research analyst reports. Craig Hallum increased their price target on Blue Bird from $54.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Roth Mkm increased their price target on shares of Blue Bird from $40.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Needham & Company LLC boosted their price objective on Blue Bird from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. DA Davidson increased their target price on Blue Bird from $44.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, May 20th. Finally, Barclays upped their price objective on Blue Bird from $35.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, May 10th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, Blue Bird currently has a consensus rating of “Buy” and a consensus price target of $49.25.

Blue Bird Price Performance

Blue Bird stock opened at $53.82 on Friday. The stock’s fifty day moving average price is $47.49 and its two-hundred day moving average price is $36.26. The firm has a market cap of $1.74 billion, a PE ratio of 21.79, a price-to-earnings-growth ratio of 0.45 and a beta of 1.62. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.23 and a quick ratio of 0.56. Blue Bird Co. has a one year low of $17.59 and a one year high of $59.40.

Blue Bird (NASDAQ:BLBD) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.52. The business had revenue of $345.92 million during the quarter, compared to the consensus estimate of $315.00 million. Blue Bird had a return on equity of 154.10% and a net margin of 6.36%. As a group, research analysts expect that Blue Bird Co. will post 2.46 EPS for the current fiscal year.

Blue Bird Profile

Blue Bird Corporation, together with its subsidiaries, designs, engineers, manufactures, and sells school buses in the United States, Canada, and internationally. The company operates through two segments, Bus and Parts. It offers Type C, Type D, and specialty buses; and alternative power options through its propane powered, gasoline powered, compressed natural gas powered, and electric powered school buses, as well as diesel engines.