Chicago Partners Investment Group LLC Invests $209,000 in Zebra Technologies Corporation (NASDAQ:ZBRA)

Key Points

• Chicago Partners Investment Group LLC acquired a new stake in Zebra Technologies, purchasing 814 shares valued at approximately $209,000 during the first quarter.
• Institutional ownership of Zebra Technologies has increased significantly, with 91.03% of the stock currently held by hedge funds and other investors.
• Following its latest earnings report, Zebra Technologies announced a $250 million stock buyback plan, indicating confidence in its stock's value.

Chicago Partners Investment Group LLC acquired a new position in shares of Zebra Technologies Corporation (NASDAQ:ZBRA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 814 shares of the industrial products company's stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Benjamin Edwards Inc. raised its position in Zebra Technologies by 5.7% during the fourth quarter. Benjamin Edwards Inc. now owns 651 shares of the industrial products company's stock worth $251,000 after acquiring an additional 35 shares during the last quarter. GTS Securities LLC raised its position in Zebra Technologies by 5.0% during the fourth quarter. GTS Securities LLC now owns 794 shares of the industrial products company's stock worth $307,000 after acquiring an additional 38 shares during the last quarter. Allworth Financial LP raised its position in Zebra Technologies by 29.7% during the first quarter. Allworth Financial LP now owns 192 shares of the industrial products company's stock worth $54,000 after acquiring an additional 44 shares during the last quarter. Utah Retirement Systems raised its position in Zebra Technologies by 0.5% during the fourth quarter. Utah Retirement Systems now owns 8,515 shares of the industrial products company's stock worth $3,289,000 after acquiring an additional 45 shares during the last quarter. Finally, Whittier Trust Co. raised its position in Zebra Technologies by 15.8% during the first quarter. Whittier Trust Co. now owns 344 shares of the industrial products company's stock worth $97,000 after acquiring an additional 47 shares during the last quarter. 91.03% of the stock is owned by hedge funds and other institutional investors.

Zebra Technologies Trading Down 3.0%

Shares of ZBRA traded down $10.09 on Thursday, hitting $327.71. 604,799 shares of the stock traded hands, compared to its average volume of 655,559. The company has a quick ratio of 1.03, a current ratio of 1.46 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $16.66 billion, a P/E ratio of 30.95 and a beta of 1.75. The stock's 50 day moving average is $316.01 and its two-hundred day moving average is $298.33. Zebra Technologies Corporation has a 1 year low of $205.73 and a 1 year high of $427.76.

Zebra Technologies (NASDAQ:ZBRA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $3.61 EPS for the quarter, topping 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 firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the business posted $3.18 earnings per share. Zebra Technologies's revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, sell-side analysts predict that Zebra Technologies Corporation will post 13.71 earnings per share for the current year.

Zebra Technologies declared that its Board of Directors has approved a stock repurchase program on Tuesday, August 5th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the industrial products company to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have issued reports on ZBRA shares. Morgan Stanley lifted their target price on shares of Zebra Technologies from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Truist Financial lifted their target price on shares of Zebra Technologies from $269.00 to $319.00 and gave the stock a "hold" rating in a research report on Wednesday, August 6th. Citigroup restated a "neutral" rating and set a $342.00 target price (up previously from $280.00) on shares of Zebra Technologies in a research report on Monday, July 14th. Robert W. Baird lifted their target price on shares of Zebra Technologies from $320.00 to $367.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. Finally, BNP Paribas raised shares of Zebra Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 10th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $357.44.

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.