Jennison Associates LLC Sells 7,436 Shares of TrueBlue, Inc. (TBI)

Jennison Associates LLC reduced its stake in shares of TrueBlue, Inc. (NYSE:TBI) by 19.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,361 shares of the business services provider’s stock after selling 7,436 shares during the quarter. Jennison Associates LLC owned 0.07% of TrueBlue worth $682,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Louisiana State Employees Retirement System grew its stake in shares of TrueBlue by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 17,300 shares of the business services provider’s stock worth $458,000 after purchasing an additional 100 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of TrueBlue by 0.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 43,510 shares of the business services provider’s stock worth $1,153,000 after purchasing an additional 165 shares during the last quarter. Arizona State Retirement System grew its stake in shares of TrueBlue by 0.9% in the second quarter. Arizona State Retirement System now owns 22,228 shares of the business services provider’s stock worth $589,000 after purchasing an additional 200 shares during the last quarter. NGAM Advisors L.P. grew its stake in shares of TrueBlue by 1.8% in the second quarter. NGAM Advisors L.P. now owns 21,513 shares of the business services provider’s stock worth $570,000 after purchasing an additional 374 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its stake in shares of TrueBlue by 3.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 10,060 shares of the business services provider’s stock worth $267,000 after purchasing an additional 380 shares during the last quarter. 91.49% of the stock is currently owned by hedge funds and other institutional investors.

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In other news, EVP James E. Defebaugh sold 7,500 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $28.16, for a total transaction of $211,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph P. Sambataro, Jr. sold 16,985 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $27.28, for a total transaction of $463,350.80. Following the sale, the director now directly owns 56,596 shares of the company’s stock, valued at approximately $1,543,938.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,485 shares of company stock valued at $1,343,071. 2.00% of the stock is currently owned by insiders.

TrueBlue, Inc. (NYSE:TBI) opened at $28.75 on Tuesday. TrueBlue, Inc. has a 1-year low of $19.30 and a 1-year high of $28.85. The firm has a market cap of $1,190.00, a P/E ratio of 15.87 and a beta of 2.37. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.77 and a quick ratio of 1.77.

TrueBlue (NYSE:TBI) last announced its quarterly earnings data on Monday, October 30th. The business services provider reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. TrueBlue had a net margin of 2.22% and a return on equity of 14.05%. The company had revenue of $660.78 million during the quarter, compared to analyst estimates of $651.91 million. During the same period in the previous year, the business earned $0.70 EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. analysts anticipate that TrueBlue, Inc. will post 1.7 earnings per share for the current year.

TrueBlue declared that its Board of Directors has authorized a stock repurchase program on Monday, October 30th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Several analysts have commented on the stock. TheStreet upgraded shares of TrueBlue from a “c+” rating to a “b” rating in a report on Friday. ValuEngine lowered shares of TrueBlue from a “buy” rating to a “hold” rating in a report on Friday, September 1st. BMO Capital Markets restated a “hold” rating and issued a $23.00 price objective (down from $26.00) on shares of TrueBlue in a report on Friday, August 11th. BidaskClub lowered shares of TrueBlue from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded shares of TrueBlue from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. TrueBlue has a consensus rating of “Hold” and a consensus target price of $26.00.

TrueBlue Profile

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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Institutional Ownership by Quarter for TrueBlue (NYSE:TBI)

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