Deutsche Bank AG trimmed its holdings in shares of Trueblue Inc (NYSE:TBI) by 47.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,629 shares of the business services provider’s stock after selling 142,937 shares during the period. Deutsche Bank AG owned about 0.39% of Trueblue worth $3,483,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. American Century Companies Inc. lifted its holdings in shares of Trueblue by 6.4% during the 4th quarter. American Century Companies Inc. now owns 272,147 shares of the business services provider’s stock valued at $6,055,000 after acquiring an additional 16,448 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Trueblue by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 489,696 shares of the business services provider’s stock valued at $10,894,000 after acquiring an additional 32,326 shares in the last quarter. Norges Bank acquired a new position in shares of Trueblue during the 4th quarter valued at $19,543,000. Nordea Investment Management AB lifted its holdings in shares of Trueblue by 0.9% during the 4th quarter. Nordea Investment Management AB now owns 96,800 shares of the business services provider’s stock valued at $2,154,000 after acquiring an additional 900 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Trueblue by 720.1% during the 4th quarter. Millennium Management LLC now owns 66,811 shares of the business services provider’s stock valued at $1,487,000 after acquiring an additional 58,664 shares in the last quarter. 96.23% of the stock is owned by institutional investors and hedge funds.
Trueblue stock traded down $0.44 during midday trading on Wednesday, hitting $23.35. 161,400 shares of the stock were exchanged, compared to its average volume of 196,946. The company has a market capitalization of $943.60 million, a price-to-earnings ratio of 10.24 and a beta of 1.66. Trueblue Inc has a 1 year low of $20.56 and a 1 year high of $29.85. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.79 and a quick ratio of 1.79.
Trueblue (NYSE:TBI) last released its earnings results on Monday, April 29th. The business services provider reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.03. The company had revenue of $552.30 million during the quarter, compared to the consensus estimate of $560.27 million. Trueblue had a net margin of 2.61% and a return on equity of 15.35%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 EPS. Analysts forecast that Trueblue Inc will post 2.28 earnings per share for the current fiscal year.
In other news, CFO Derrek Lane Gafford sold 40,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $24.16, for a total value of $966,400.00. Following the completion of the sale, the chief financial officer now owns 108,758 shares of the company’s stock, valued at approximately $2,627,593.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James E. Defebaugh sold 10,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $24.69, for a total transaction of $246,900.00. The disclosure for this sale can be found here. Insiders sold a total of 90,700 shares of company stock valued at $2,189,078 in the last three months. Insiders own 2.00% of the company’s stock.
Several equities research analysts recently issued reports on TBI shares. ValuEngine downgraded shares of Trueblue from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. TheStreet raised shares of Trueblue from a “c+” rating to a “b-” rating in a research note on Tuesday, April 16th. BMO Capital Markets dropped their price target on shares of Trueblue from $26.00 to $24.00 and set a “market perform” rating on the stock in a research note on Monday, February 11th. Robert W. Baird dropped their price target on shares of Trueblue from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 30th. Finally, Zacks Investment Research downgraded shares of Trueblue from a “hold” rating to a “sell” rating in a research note on Tuesday, February 12th. Five equities research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and an average target price of $25.50.
TrueBlue, Inc provides contingent staffing, recruitment process outsourcing, and contingent staffing management services in the United States, Canada, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The PeopleReady segment offers a range of staffing solutions for blue-collar, contingent on-demand, and skilled labor in construction, manufacturing and logistics, warehousing and distribution, waste and recycling, energy, retail, hospitality, general labor, and other industries under the Labor Ready, CLP Resources, and Spartan Staffing brands.
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