Kempner Capital Management Inc. Raises Stake in Bristol-Myers Squibb (NYSE:BMY)

Kempner Capital Management Inc. boosted its stake in Bristol-Myers Squibb (NYSE:BMY) by 22.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,144 shares of the biopharmaceutical company’s stock after acquiring an additional 20,112 shares during the quarter. Bristol-Myers Squibb comprises about 2.4% of Kempner Capital Management Inc.’s holdings, making the stock its 23rd largest holding. Kempner Capital Management Inc.’s holdings in Bristol-Myers Squibb were worth $4,491,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Traynor Capital Management Inc. increased its holdings in Bristol-Myers Squibb by 2.8% in the first quarter. Traynor Capital Management Inc. now owns 7,672 shares of the biopharmaceutical company’s stock valued at $416,000 after purchasing an additional 207 shares during the last quarter. Fulton Breakefield Broenniman LLC increased its holdings in Bristol-Myers Squibb by 4.6% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 4,744 shares of the biopharmaceutical company’s stock valued at $243,000 after purchasing an additional 209 shares during the last quarter. Accurate Wealth Management LLC increased its holdings in Bristol-Myers Squibb by 4.0% in the first quarter. Accurate Wealth Management LLC now owns 5,612 shares of the biopharmaceutical company’s stock valued at $304,000 after purchasing an additional 216 shares during the last quarter. Newbridge Financial Services Group Inc. increased its holdings in Bristol-Myers Squibb by 12.8% in the first quarter. Newbridge Financial Services Group Inc. now owns 1,910 shares of the biopharmaceutical company’s stock valued at $104,000 after purchasing an additional 216 shares during the last quarter. Finally, Bfsg LLC increased its holdings in Bristol-Myers Squibb by 24.4% in the first quarter. Bfsg LLC now owns 1,120 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BMY shares. BMO Capital Markets dropped their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, April 26th. Cantor Fitzgerald restated a “neutral” rating and issued a $45.00 price target on shares of Bristol-Myers Squibb in a report on Monday, July 22nd. Barclays cut Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price objective for the company. in a research report on Monday, July 29th. TD Cowen upped their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb has a consensus rating of “Hold” and an average price target of $54.86.

Bristol-Myers Squibb Stock Performance

Shares of BMY traded up $0.42 during mid-day trading on Monday, reaching $49.78. The company’s stock had a trading volume of 2,848,439 shares, compared to its average volume of 15,821,969. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.41. The stock has a market cap of $100.91 billion, a P/E ratio of -15.92, a PEG ratio of 12.51 and a beta of 0.44. The business has a 50-day simple moving average of $43.74 and a two-hundred day simple moving average of $46.57. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The company had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.75 earnings per share. As a group, equities research analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Friday, July 5th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.82%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -77.42%.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.