Trueblue Inc (TBI) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of Trueblue Inc (NYSE:TBI) by 5.3% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 472,813 shares of the business services provider’s stock after selling 26,652 shares during the period. Bank of New York Mellon Corp owned approximately 1.16% of Trueblue worth $12,742,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Trueblue during the 2nd quarter valued at about $215,000. Itau Unibanco Holding S.A. bought a new position in shares of Trueblue in the 2nd quarter worth approximately $129,000. SG Americas Securities LLC lifted its stake in shares of Trueblue by 54.2% in the 2nd quarter. SG Americas Securities LLC now owns 23,126 shares of the business services provider’s stock worth $623,000 after purchasing an additional 8,126 shares during the period. KBC Group NV lifted its stake in shares of Trueblue by 158.7% in the 2nd quarter. KBC Group NV now owns 37,963 shares of the business services provider’s stock worth $1,023,000 after purchasing an additional 23,289 shares during the period. Finally, Cornerstone Wealth Management LLC bought a new position in shares of Trueblue in the 2nd quarter worth approximately $389,000. Institutional investors and hedge funds own 92.96% of the company’s stock.

Shares of NYSE:TBI opened at $24.14 on Friday. Trueblue Inc has a twelve month low of $22.34 and a twelve month high of $29.85. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $961.12 million, a PE ratio of 13.87 and a beta of 1.90.

Trueblue (NYSE:TBI) last issued its quarterly earnings data on Monday, November 5th. The business services provider reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.01. Trueblue had a net margin of 2.67% and a return on equity of 15.62%. The firm had revenue of $680.40 million for the quarter, compared to analysts’ expectations of $672.74 million. During the same quarter in the prior year, the business earned $0.60 EPS. The business’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, analysts expect that Trueblue Inc will post 2.26 EPS for the current fiscal year.

Several equities analysts have recently weighed in on TBI shares. Zacks Investment Research upgraded shares of Trueblue from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Thursday, November 8th. ValuEngine upgraded shares of Trueblue from a “sell” rating to a “hold” rating in a research note on Friday, November 16th. Finally, Credit Suisse Group lowered their price objective on shares of Trueblue from $31.00 to $25.00 and set a “hold” rating on the stock in a research note on Tuesday, November 6th. Five equities research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average price target of $27.25.

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Trueblue Company Profile

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, hospitality, general labor, and other industries under the Labor Ready, CLP Resources, and Spartan Staffing brands.

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Institutional Ownership by Quarter for Trueblue (NYSE:TBI)

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