Oregon Public Employees Retirement Fund Reduces Position in TrueBlue, Inc. (NYSE:TBI)

Oregon Public Employees Retirement Fund cut its position in TrueBlue, Inc. (NYSE:TBIGet Rating) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,773 shares of the business services provider’s stock after selling 600 shares during the period. Oregon Public Employees Retirement Fund’s holdings in TrueBlue were worth $381,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Royal Bank of Canada increased its position in shares of TrueBlue by 310.3% in the 2nd quarter. Royal Bank of Canada now owns 2,618 shares of the business services provider’s stock valued at $73,000 after purchasing an additional 1,980 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of TrueBlue in the 3rd quarter valued at approximately $215,000. Inspire Investing LLC purchased a new stake in shares of TrueBlue in the 3rd quarter valued at approximately $227,000. Metropolitan Life Insurance Co NY increased its position in shares of TrueBlue by 10.8% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 9,424 shares of the business services provider’s stock valued at $255,000 after purchasing an additional 916 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of TrueBlue by 45.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,795 shares of the business services provider’s stock valued at $299,000 after buying an additional 3,355 shares in the last quarter. 95.43% of the stock is currently owned by institutional investors.

Shares of NYSE:TBI opened at $29.18 on Friday. The stock has a market cap of $1.02 billion, a P/E ratio of 16.67 and a beta of 1.49. The firm has a fifty day moving average price of $27.86 and a 200 day moving average price of $27.94. TrueBlue, Inc. has a 1-year low of $22.42 and a 1-year high of $32.91.

TrueBlue (NYSE:TBIGet Rating) last issued its quarterly earnings results on Wednesday, February 2nd. The business services provider reported $0.69 earnings per share for the quarter. The firm had revenue of $621.93 million during the quarter, compared to analysts’ expectations of $582.21 million. TrueBlue had a net margin of 2.84% and a return on equity of 14.97%. TrueBlue’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 EPS.

TBI has been the subject of several research analyst reports. Sidoti initiated coverage on shares of TrueBlue in a report on Monday, April 11th. They issued a “buy” rating for the company. StockNews.com cut shares of TrueBlue from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $30.33.

In other news, CAO Richard Christensen sold 2,404 shares of the firm’s stock in a transaction on Wednesday, February 9th. The shares were sold at an average price of $27.62, for a total value of $66,398.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Derrek Lane Gafford bought 15,000 shares of TrueBlue stock in a transaction dated Tuesday, March 8th. The stock was purchased at an average price of $25.21 per share, with a total value of $378,150.00. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by company insiders.

TrueBlue Company Profile (Get Rating)

TrueBlue, Inc, together with its subsidiaries, provides specialized workforce solutions in the United States, Canada, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The PeopleReady segment offers contingent staffing solutions for blue-collar, on-demand, and skilled labor in construction, manufacturing and logistics, warehousing and distribution, waste and recycling, energy, retail, hospitality, and general labor industries.

Further Reading

Institutional Ownership by Quarter for TrueBlue (NYSE:TBI)

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