Bank of Montreal Can reduced its stake in shares of Trueblue Inc (NYSE:TBI) by 4.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 122,904 shares of the business services provider’s stock after selling 5,227 shares during the period. Bank of Montreal Can owned approximately 0.30% of Trueblue worth $3,380,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in TBI. Vanguard Group Inc. grew its stake in shares of Trueblue by 16.1% during the 2nd quarter. Vanguard Group Inc. now owns 4,519,856 shares of the business services provider’s stock worth $119,777,000 after acquiring an additional 627,033 shares in the last quarter. FMR LLC grew its stake in shares of Trueblue by 16.1% during the 2nd quarter. FMR LLC now owns 1,209,465 shares of the business services provider’s stock worth $32,051,000 after acquiring an additional 168,165 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of Trueblue during the 3rd quarter worth approximately $3,423,000. JPMorgan Chase & Co. grew its stake in shares of Trueblue by 12.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,238,560 shares of the business services provider’s stock worth $27,682,000 after acquiring an additional 141,579 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Trueblue by 169.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 206,594 shares of the business services provider’s stock valued at $5,475,000 after buying an additional 129,794 shares in the last quarter. Hedge funds and other institutional investors own 90.52% of the company’s stock.
In related news, Director Bonnie W. Soodik sold 20,871 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $27.85, for a total value of $581,257.35. Following the completion of the transaction, the director now owns 2,119 shares of the company’s stock, valued at $59,014.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Steven C. Cooper sold 23,900 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $28.06, for a total value of $670,634.00. The disclosure for this sale can be found here. Insiders have sold 57,371 shares of company stock valued at $1,611,495 in the last three months. Insiders own 2.00% of the company’s stock.
Trueblue (NYSE:TBI) last posted its earnings results on Wednesday, February 7th. The business services provider reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03. Trueblue had a return on equity of 13.30% and a net margin of 2.21%. The company had revenue of $669.63 million during the quarter, compared to the consensus estimate of $667.66 million. During the same quarter last year, the firm earned $0.58 earnings per share. The company’s revenue was down 8.9% on a year-over-year basis. equities analysts predict that Trueblue Inc will post 2.21 EPS for the current year.
Trueblue declared that its board has initiated a share buyback plan on Monday, October 30th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
TBI has been the subject of several analyst reports. Zacks Investment Research cut shares of Trueblue from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. BMO Capital Markets raised their target price on shares of Trueblue from $23.00 to $26.00 and gave the company a “market perform” rating in a research note on Wednesday, November 1st. TheStreet raised shares of Trueblue from a “c+” rating to a “b” rating in a research note on Friday, November 17th. Finally, Robert W. Baird lifted their price objective on shares of Trueblue from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $28.67.
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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