TrueBlue, Inc. (TBI) Shares Bought by State Street Corp
State Street Corp boosted its position in shares of TrueBlue, Inc. (NYSE:TBI) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,042,487 shares of the business services provider’s stock after purchasing an additional 19,664 shares during the period. State Street Corp owned 2.51% of TrueBlue worth $27,630,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its stake in shares of TrueBlue by 79.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,371 shares of the business services provider’s stock valued at $221,000 after buying an additional 3,711 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of TrueBlue during the 2nd quarter valued at $236,000. Virtu KCG Holdings LLC acquired a new stake in shares of TrueBlue during the 2nd quarter valued at $261,000. Municipal Employees Retirement System of Michigan boosted its stake in shares of TrueBlue by 3.9% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,060 shares of the business services provider’s stock valued at $267,000 after buying an additional 380 shares during the period. Finally, Aperio Group LLC boosted its stake in shares of TrueBlue by 19.0% during the 2nd quarter. Aperio Group LLC now owns 11,371 shares of the business services provider’s stock valued at $301,000 after buying an additional 1,818 shares during the period. Hedge funds and other institutional investors own 91.46% of the company’s stock.
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TBI has been the subject of a number of research reports. TheStreet lowered shares of TrueBlue from a “b-” rating to a “c+” rating in a research note on Friday, August 18th. Robert W. Baird reissued a “hold” rating and set a $25.00 target price on shares of TrueBlue in a research note on Friday, October 6th. ValuEngine raised shares of TrueBlue from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Zacks Investment Research lowered shares of TrueBlue from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Finally, BMO Capital Markets reissued a “hold” rating and set a $23.00 target price on shares of TrueBlue in a research note on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $26.00.
In related news, EVP Taryn R. Owen sold 9,000 shares of TrueBlue stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $26.08, for a total value of $234,720.00. Following the completion of the sale, the executive vice president now owns 13,084 shares of the company’s stock, valued at approximately $341,230.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph P. Sambataro, Jr. sold 16,985 shares of TrueBlue stock in a transaction on Monday, November 6th. The shares were sold at an average price of $27.28, for a total transaction of $463,350.80. Following the completion of the sale, the director now directly owns 56,596 shares of the company’s stock, valued at approximately $1,543,938.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,985 shares of company stock valued at $1,131,871. 2.00% of the stock is owned by company insiders.
Shares of TrueBlue, Inc. (NYSE:TBI) opened at $28.30 on Monday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.20. TrueBlue, Inc. has a 52 week low of $19.30 and a 52 week high of $28.70. The stock has a market cap of $1,170.53, a price-to-earnings ratio of 15.81 and a beta of 2.37.
TrueBlue (NYSE:TBI) last released its quarterly earnings data on Monday, October 30th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. TrueBlue had a net margin of 2.22% and a return on equity of 14.05%. The business had revenue of $660.78 million during the quarter, compared to analyst estimates of $651.91 million. During the same quarter in the previous year, the business earned $0.70 EPS. TrueBlue’s quarterly revenue was down 5.2% compared to the same quarter last year. research analysts forecast that TrueBlue, Inc. will post 1.7 earnings per share for the current year.
TrueBlue declared that its Board of Directors has approved a stock repurchase program on Monday, October 30th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
TrueBlue, Inc is a provider of specialized workforce solutions. The Company is engaged in providing staffing, on-site workforce management and recruitment process outsourcing services. The Company operates through three segments: PeopleReady, PeopleManagement and PeopleScout. Its PeopleReady segment provides blue-collar contingent staffing through the PeopleReady service line.
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