Turtle Creek Asset Management Inc. Sells 120,330 Shares of Bread Financial Holdings, Inc. $BFH

Turtle Creek Asset Management Inc. reduced its position in shares of Bread Financial Holdings, Inc. (NYSE:BFH) by 4.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,431,102 shares of the company’s stock after selling 120,330 shares during the period. Bread Financial comprises 6.8% of Turtle Creek Asset Management Inc.’s portfolio, making the stock its biggest holding. Turtle Creek Asset Management Inc. owned about 0.06% of Bread Financial worth $182,065,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in shares of Bread Financial by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,086,060 shares of the company’s stock valued at $231,111,000 after acquiring an additional 9,854 shares in the last quarter. Franklin Resources Inc. raised its stake in Bread Financial by 17.3% in the 4th quarter. Franklin Resources Inc. now owns 2,029,894 shares of the company’s stock valued at $150,273,000 after purchasing an additional 299,439 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Bread Financial by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 1,159,731 shares of the company’s stock valued at $85,866,000 after purchasing an additional 14,257 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in Bread Financial by 21.6% in the 4th quarter. Allianz Asset Management GmbH now owns 1,147,366 shares of the company’s stock valued at $84,940,000 after purchasing an additional 203,707 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Bread Financial by 14.7% during the 1st quarter. Hsbc Holdings PLC now owns 1,009,890 shares of the company’s stock worth $74,667,000 after purchasing an additional 129,774 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $115.00 target price on shares of Bread Financial in a report on Friday, July 24th. Wall Street Zen upgraded shares of Bread Financial from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bread Financial in a research note on Friday, July 24th. Loop Capital initiated coverage on shares of Bread Financial in a report on Thursday, May 21st. They issued a “buy” rating and a $104.00 price objective for the company. Finally, Seaport Research Partners reissued a “buy” rating and issued a $119.00 target price on shares of Bread Financial in a research note on Monday. Eight analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $110.00.

Insider Activity at Bread Financial

In other Bread Financial news, Director John J. Fawcett bought 698 shares of Bread Financial stock in a transaction on Thursday, May 21st. The shares were bought at an average price of $86.43 per share, for a total transaction of $60,328.14. Following the completion of the transaction, the director directly owned 11,000 shares of the company’s stock, valued at $950,730. This trade represents a 6.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ralph J. Andretta sold 15,000 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $89.10, for a total value of $1,336,500.00. Following the completion of the transaction, the chief executive officer directly owned 582,241 shares in the company, valued at approximately $51,877,673.10. This trade represents a 2.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by insiders.

Bread Financial Trading Down 0.6%

Shares of BFH opened at $107.16 on Thursday. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.25. Bread Financial Holdings, Inc. has a 12-month low of $53.83 and a 12-month high of $110.14. The firm has a 50-day moving average price of $98.58 and a 200 day moving average price of $84.76. The firm has a market capitalization of $4.33 billion, a P/E ratio of 8.36, a P/E/G ratio of 0.70 and a beta of 1.10.

Bread Financial (NYSE:BFH) last issued its earnings results on Thursday, July 23rd. The company reported $3.55 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.81. The company had revenue of $992.00 million for 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.15 earnings per share. Sell-side analysts forecast that Bread Financial Holdings, Inc. will post 11.82 EPS for the current year.

Bread Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, August 31st. Bread Financial’s payout ratio is presently 7.18%.

Bread Financial Profile

Bread Financial, formerly known as Alliance Data Systems, is a Columbus, Ohio–based financial services company that specializes in providing private label credit programs, co-brand credit cards and digital payment solutions for retail partners. The company designs, issues and services proprietary credit products, enabling merchants to offer branded financing options that drive customer loyalty and increase basket sizes at the point of sale. Through its Bread technology platform, Bread Financial delivers installment-based payment options that integrate directly into e-commerce and in-store checkout experiences.

In addition to its core credit offerings, Bread Financial provides analytics, marketing and loyalty services to help merchants better understand consumer behavior and optimize promotional strategies.