Cary Street Partners Financial LLC Buys New Holdings in Zebra Technologies Corporation (NASDAQ:ZBRA)

Key Points

• Cary Street Partners Financial LLC has acquired a new position in Zebra Technologies, purchasing 3,531 shares valued at approximately $998,000.
• Analysts have recently raised the price target for Zebra Technologies, with Morgan Stanley setting it at $300.00 and BNP Paribas Exane at $408.00, reflecting positive market sentiment.
• Zebra Technologies reported better-than-expected earnings with an EPS of $3.61 for the last quarter, leading to a share buyback plan of up to $250 million.

Cary Street Partners Financial LLC purchased a new position in shares of Zebra Technologies Corporation (NASDAQ:ZBRA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,531 shares of the industrial products company's stock, valued at approximately $998,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. American Century Companies Inc. increased its holdings in shares of Zebra Technologies by 11.7% during the 4th quarter. American Century Companies Inc. now owns 2,040 shares of the industrial products company's stock worth $788,000 after acquiring an additional 213 shares during the last quarter. Wellington Management Group LLP boosted its position in Zebra Technologies by 222.4% during the fourth quarter. Wellington Management Group LLP now owns 11,145 shares of the industrial products company's stock worth $4,304,000 after purchasing an additional 7,688 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Zebra Technologies in the fourth quarter valued at $212,000. Russell Investments Group Ltd. raised its position in shares of Zebra Technologies by 298.1% in the fourth quarter. Russell Investments Group Ltd. now owns 49,166 shares of the industrial products company's stock valued at $18,962,000 after purchasing an additional 36,815 shares during the period. Finally, Federated Hermes Inc. raised its position in shares of Zebra Technologies by 51.8% in the fourth quarter. Federated Hermes Inc. now owns 416 shares of the industrial products company's stock valued at $161,000 after purchasing an additional 142 shares during the period. Institutional investors own 91.03% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ZBRA. Morgan Stanley upped their price target on shares of Zebra Technologies from $280.00 to $300.00 and gave the company an "equal weight" rating in a research note on Wednesday. BNP Paribas Exane upgraded Zebra Technologies from a "neutral" rating to an "outperform" rating and set a $408.00 target price on the stock in a research note on Thursday, July 10th. Wall Street Zen cut Zebra Technologies from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Barclays upped their price objective on Zebra Technologies from $263.00 to $301.00 and gave the company an "equal weight" rating in a report on Tuesday. Finally, Truist Financial boosted their target price on shares of Zebra Technologies from $269.00 to $319.00 and gave the company a "hold" rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $357.44.

Zebra Technologies Trading Up 2.5%

ZBRA opened at $316.01 on Friday. The stock has a market capitalization of $16.07 billion, a price-to-earnings ratio of 29.84 and a beta of 1.75. The company has a quick ratio of 1.02, a current ratio of 1.46 and a debt-to-equity ratio of 0.59. Zebra Technologies Corporation has a twelve month low of $205.73 and a twelve month high of $427.76. The company has a 50-day simple moving average of $312.50 and a 200 day simple moving average of $301.43.

Zebra Technologies (NASDAQ:ZBRA - Get Free Report) last issued its earnings results on Tuesday, August 5th. The industrial products company reported $3.61 EPS for the quarter, beating the consensus estimate of $3.31 by $0.30. Zebra Technologies had a net margin of 10.56% and a return on equity of 18.95%. The company had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.29 billion. During the same period in the previous year, the company earned $3.18 EPS. The business's revenue for the quarter was up 6.2% compared to the same quarter last year. Analysts predict that Zebra Technologies Corporation will post 13.71 EPS for the current fiscal year.

Zebra Technologies announced that its Board of Directors has authorized a share buyback plan on Tuesday, August 5th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

About Zebra Technologies

Zebra Technologies Corporation, together with its subsidiaries, provides enterprise asset intelligence solutions in the automatic identification and data capture solutions industry worldwide. It operates in two segments, Asset Intelligence & Tracking, and Enterprise Visibility & Mobility. The company designs, manufactures, and sells printers that produce labels, wristbands, tickets, receipts, and plastic cards; dye-sublimination thermal card printers that produce images, which are used for personal identification, access control, and financial transactions; radio frequency identification device (RFID) printers that encode data into passive RFID transponders; accessories and options for printers, including carrying cases, vehicle mounts, and battery chargers; stock and customized thermal labels, receipts, ribbons, plastic cards, and RFID tags for printers; and temperature-monitoring labels primarily used in vaccine distribution.

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