Wellington Management Group LLP Sells 22,979 Shares of Blue Bird Corporation $BLBD

Wellington Management Group LLP cut its stake in shares of Blue Bird Corporation (NASDAQ:BLBD) by 2.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 995,188 shares of the company’s stock after selling 22,979 shares during the period. Wellington Management Group LLP’s holdings in Blue Bird were worth $78,580,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BLBD. Kilter Group LLC acquired a new position in Blue Bird in the second quarter valued at about $25,000. Rockefeller Capital Management L.P. grew its position in shares of Blue Bird by 210.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 775 shares of the company’s stock worth $36,000 after buying an additional 525 shares during the period. Dunhill Financial LLC acquired a new position in shares of Blue Bird during the 2nd quarter worth about $39,000. Transamerica Financial Advisors LLC increased its stake in shares of Blue Bird by 222.7% in the 4th quarter. Transamerica Financial Advisors LLC now owns 823 shares of the company’s stock valued at $39,000 after acquiring an additional 568 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Blue Bird by 10,028.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company’s stock valued at $41,000 after acquiring an additional 702 shares during the last quarter. Institutional investors own 93.59% of the company’s stock.

Blue Bird Trading Up 1.9%

NASDAQ BLBD opened at $61.71 on Thursday. Blue Bird Corporation has a one year low of $46.14 and a one year high of $83.39. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.64 and a quick ratio of 0.67. The firm has a market cap of $1.95 billion, a P/E ratio of 7.51, a P/E/G ratio of 0.79 and a beta of 1.36. The stock’s 50-day moving average is $71.38 and its 200-day moving average is $66.27.

Blue Bird (NASDAQ:BLBD) last posted its earnings results on Wednesday, August 5th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.03. The business had revenue of $517.16 million during the quarter, compared to analysts’ expectations of $485.73 million. Blue Bird had a return on equity of 39.97% and a net margin of 17.48%. Sell-side analysts anticipate that Blue Bird Corporation will post 4.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on BLBD. BTIG Research lifted their price objective on shares of Blue Bird from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $86.00 target price on shares of Blue Bird in a research note on Thursday, August 6th. Freedom Capital upgraded shares of Blue Bird from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Barclays lifted their price target on shares of Blue Bird from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. Finally, Zacks Research raised shares of Blue Bird from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $85.33.

About Blue Bird

Blue Bird Corporation (NASDAQ: BLBD) is a leading manufacturer of buses and mass transportation vehicles headquartered in Fort Valley, Georgia. The company’s core business encompasses the design, engineering, and production of school buses and activity buses, with a product lineup that includes conventional (Type C) models, transit-style (Type D) models and specialty configurations for special-needs and activity transport. In recent years, Blue Bird has expanded its offerings to include zero-emission electric school buses, reflecting its commitment to advanced propulsion technologies and environmental sustainability.

Established in 1927, Blue Bird has built a legacy of safety and reliability in student transportation.