Insider Selling: Plantronics CFO Sells 3,000 Shares of Stock (PLT)
Plantronics (NYSE:PLT) CFO Pamela J. Strayer sold 3,000 shares of the stock on the open market in a transaction dated Monday, August 11th. The stock was sold at an average price of $46.85, for a total transaction of $140,550.00. Following the transaction, the chief financial officer now directly owns 28,303 shares in the company, valued at approximately $1,325,996. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Plantronics (NYSE:PLT) traded down 1.22% on Tuesday, hitting $46.12. The stock had a trading volume of 148,212 shares. Plantronics has a 1-year low of $41.14 and a 1-year high of $49.87. The stock’s 50-day moving average is $47.39 and its 200-day moving average is $44.96. The company has a market cap of $1.919 billion and a price-to-earnings ratio of 17.62.
Plantronics (NYSE:PLT) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.78 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.70 by $0.08. The company had revenue of $216.70 million for the quarter, compared to the consensus estimate of $210.95 million. During the same quarter in the prior year, the company posted $0.70 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. On average, analysts predict that Plantronics will post $3.06 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Monday, August 18th.
PLT has been the subject of a number of recent research reports. Analysts at Roth Capital raised their price target on shares of Plantronics from $53.00 to $55.00 in a research note on Thursday, July 31st. Separately, analysts at Zacks upgraded shares of Plantronics from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 30th. They now have a $50.40 price target on the stock. Finally, analysts at Northland Securities raised their price target on shares of Plantronics from $51.00 to $53.00 in a research note on Wednesday, July 30th. They now have an “outperform” rating on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Plantronics presently has a consensus rating of “Buy” and a consensus target price of $54.20.
Plantronics, Inc (NYSE:PLT) is a global designer, manufacturer, and marketer of lightweight communications headsets, telephone headset systems, and accessories for the business and consumer markets under the Plantronics brand.
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