LGT Group Foundation Purchases New Holdings in Zebra Technologies Corporation (NASDAQ:ZBRA)

Key Points

• LGT Group Foundation purchased a new stake in Zebra Technologies, acquiring 3,694 shares valued at approximately $1,044,000 during the first quarter.
• Analysts have raised their price targets and ratings for Zebra Technologies, with a consensus price target of $357.44 and an average rating of "Moderate Buy".
• Zebra Technologies reported $3.61 earnings per share (EPS) for the most recent quarter, exceeding analyst expectations, along with a revenue of $1.29 billion, a 6.2% increase from the previous year.

LGT Group Foundation purchased a new position in Zebra Technologies Corporation (NASDAQ:ZBRA - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,694 shares of the industrial products company's stock, valued at approximately $1,044,000.

Other hedge funds have also added to or reduced their stakes in the company. Federated Hermes Inc. increased 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 acquiring an additional 142 shares during the period. Sterling Capital Management LLC increased its position in shares of Zebra Technologies by 47.8% in the fourth quarter. Sterling Capital Management LLC now owns 2,559 shares of the industrial products company's stock valued at $988,000 after acquiring an additional 828 shares during the period. Rockefeller Capital Management L.P. increased its position in shares of Zebra Technologies by 4.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 15,307 shares of the industrial products company's stock valued at $5,910,000 after acquiring an additional 600 shares during the period. Townsquare Capital LLC increased its position in shares of Zebra Technologies by 32.9% in the fourth quarter. Townsquare Capital LLC now owns 7,546 shares of the industrial products company's stock valued at $2,914,000 after acquiring an additional 1,868 shares during the period. Finally, Sagespring Wealth Partners LLC purchased a new position in shares of Zebra Technologies in the fourth quarter valued at about $396,000. 91.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wall Street Zen cut shares of Zebra Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Needham & Company LLC boosted their price objective on shares of Zebra Technologies from $325.00 to $345.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Robert W. Baird boosted their price objective 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. UBS Group decreased their price objective on shares of Zebra Technologies from $425.00 to $410.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Finally, Truist Financial boosted their price objective on shares of Zebra Technologies from $269.00 to $319.00 and gave the company a "hold" rating in a research report on Wednesday, August 6th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Zebra Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $357.44.

Zebra Technologies Trading Down 3.0%

Shares of ZBRA traded down $10.09 during trading hours on Thursday, reaching $327.71. 604,799 shares of the company traded hands, compared to its average volume of 655,559. The company's fifty day moving average price is $316.01 and its two-hundred day moving average price is $298.33. The company has a market capitalization of $16.66 billion, a price-to-earnings ratio of 30.95 and a beta of 1.75. The company has a quick ratio of 1.03, a current ratio of 1.46 and a debt-to-equity ratio of 0.59. Zebra Technologies Corporation has a 12 month low of $205.73 and a 12 month 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. 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 for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the firm posted $3.18 EPS. The company's revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts predict that Zebra Technologies Corporation will post 13.71 earnings per share for the current fiscal year.

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

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.