Citigroup Inc. Increases Stock Position in Zebra Technologies Corporation (NASDAQ:ZBRA)

Citigroup Inc. grew its stake in Zebra Technologies Corporation (NASDAQ:ZBRA - Free Report) by 41.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,022 shares of the industrial products company's stock after purchasing an additional 23,943 shares during the quarter. Citigroup Inc. owned approximately 0.16% of Zebra Technologies worth $23,176,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Federated Hermes Inc. lifted its position in shares of Zebra Technologies by 51.8% in the 4th quarter. Federated Hermes Inc. now owns 416 shares of the industrial products company's stock worth $161,000 after purchasing an additional 142 shares during the period. Sterling Capital Management LLC lifted its position in shares of Zebra Technologies by 47.8% in the 4th quarter. Sterling Capital Management LLC now owns 2,559 shares of the industrial products company's stock worth $988,000 after purchasing an additional 828 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of Zebra Technologies by 4.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 15,307 shares of the industrial products company's stock worth $5,910,000 after purchasing an additional 600 shares during the period. Townsquare Capital LLC lifted its position in shares of Zebra Technologies by 32.9% in the 4th quarter. Townsquare Capital LLC now owns 7,546 shares of the industrial products company's stock worth $2,914,000 after purchasing an additional 1,868 shares during the period. Finally, Sagespring Wealth Partners LLC acquired a new position in shares of Zebra Technologies in the 4th quarter worth approximately $396,000. 91.03% of the stock is owned by institutional investors.

Zebra Technologies Price Performance

Shares of Zebra Technologies stock traded down $10.09 on Thursday, reaching $327.71. The stock had a trading volume of 604,799 shares, compared to its average volume of 655,559. The business's 50 day moving average is $316.01 and its two-hundred day moving average is $298.33. The company has a market cap of $16.66 billion, a P/E ratio of 30.95 and a beta of 1.75. The company has a current ratio of 1.46, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. 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 announced its earnings results on Tuesday, August 5th. The industrial products company reported $3.61 earnings per share for the quarter, beating analysts' consensus estimates of $3.31 by $0.30. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.29 billion. Zebra Technologies had a net margin of 10.56% and a return on equity of 18.95%. Zebra Technologies's quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the firm posted $3.18 earnings per share. As a group, research analysts anticipate that Zebra Technologies Corporation will post 13.71 EPS for the current year.

Zebra Technologies declared that its Board of Directors has initiated a stock repurchase program on Tuesday, August 5th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

ZBRA has been the topic of a number of research reports. Robert W. Baird boosted their target price on shares of Zebra Technologies from $320.00 to $367.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Citigroup reiterated 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. BNP Paribas upgraded shares of Zebra Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 10th. Morgan Stanley boosted 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, August 6th. Finally, Truist Financial boosted their price target on shares of Zebra Technologies from $269.00 to $319.00 and gave the company a "hold" rating in a research note on Wednesday, August 6th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $357.44.

Zebra Technologies Profile

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.