TIAA CREF Investment Management LLC decreased its holdings in shares of TrueBlue, Inc. (NYSE:TBI) by 7.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 323,975 shares of the business services provider’s stock after selling 25,539 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.78% of TrueBlue worth $8,585,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of TBI. Nordea Investment Management AB purchased a new stake in shares of TrueBlue during the first quarter worth approximately $170,000. State of Alaska Department of Revenue grew its holdings in TrueBlue by 79.6% during the second quarter. State of Alaska Department of Revenue now owns 8,371 shares of the business services provider’s stock worth $221,000 after acquiring an additional 3,711 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new position in TrueBlue during the second quarter worth $236,000. Schroder Investment Management Group acquired a new position in TrueBlue during the first quarter worth $251,000. Finally, Karp Capital Management Corp acquired a new position in TrueBlue during the first quarter worth $261,000. Institutional investors own 89.82% of the company’s stock.
Shares of TrueBlue, Inc. (NYSE:TBI) traded up 0.22% on Wednesday, hitting $23.30. The stock had a trading volume of 16,653 shares. The firm’s 50-day moving average is $21.76 and its 200 day moving average is $24.60. The stock has a market cap of $968.77 million, a P/E ratio of 16.45 and a beta of 2.40. TrueBlue, Inc. has a 1-year low of $16.50 and a 1-year high of $28.70.
TrueBlue (NYSE:TBI) last announced its earnings results on Monday, July 31st. The business services provider reported $0.42 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.42. TrueBlue had a net margin of 2.27% and a return on equity of 15.18%. The company had revenue of $610.10 million for the quarter, compared to analysts’ expectations of $610.04 million. During the same period last year, the firm earned $0.54 earnings per share. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. Equities analysts forecast that TrueBlue, Inc. will post $1.69 EPS for the current year.
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In other news, EVP Wayne W. Larkin sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $20.38, for a total transaction of $203,800.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by company insiders.
Several analysts have weighed in on TBI shares. BMO Capital Markets reiterated a “hold” rating and set a $23.00 target price (down from $26.00) on shares of TrueBlue in a research report on Friday, August 11th. Zacks Investment Research upgraded TrueBlue from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. BidaskClub lowered TrueBlue from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. TheStreet upgraded TrueBlue from a “c” rating to a “b” rating in a research note on Monday, July 31st. Finally, ValuEngine upgraded TrueBlue from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $20.25.
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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