Principal Financial Group Inc. Has $7.29 Million Stock Holdings in JetBlue Airways Corporation (NASDAQ:JBLU)

Principal Financial Group Inc. increased its stake in shares of JetBlue Airways Corporation (NASDAQ:JBLU - Free Report) by 4.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,512,443 shares of the transportation company's stock after purchasing an additional 64,847 shares during the period. Principal Financial Group Inc. owned approximately 0.43% of JetBlue Airways worth $7,290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in JBLU. FMR LLC boosted its position in shares of JetBlue Airways by 14,595.7% during the fourth quarter. FMR LLC now owns 16,599,279 shares of the transportation company's stock worth $130,470,000 after acquiring an additional 16,486,326 shares during the last quarter. Raymond James Financial Inc. bought a new stake in JetBlue Airways during the 4th quarter valued at about $1,796,000. Intech Investment Management LLC increased its position in JetBlue Airways by 71.7% during the 4th quarter. Intech Investment Management LLC now owns 119,072 shares of the transportation company's stock valued at $936,000 after purchasing an additional 49,712 shares during the period. New Age Alpha Advisors LLC purchased a new position in JetBlue Airways during the 4th quarter valued at about $432,000. Finally, Bridgeway Capital Management LLC increased its position in JetBlue Airways by 2.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 2,512,920 shares of the transportation company's stock valued at $19,752,000 after purchasing an additional 66,183 shares during the period. 83.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JBLU has been the topic of several research analyst reports. Bank of America dropped their target price on shares of JetBlue Airways from $5.25 to $4.25 and set an "underperform" rating on the stock in a research report on Thursday, April 3rd. Barclays cut their price target on shares of JetBlue Airways from $7.00 to $4.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. UBS Group set a $3.00 target price on shares of JetBlue Airways and gave the stock a "sell" rating in a report on Monday, July 7th. Raymond James Financial lowered shares of JetBlue Airways from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. Finally, Susquehanna decreased their target price on shares of JetBlue Airways from $6.00 to $4.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Five investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. Based on data from MarketBeat, JetBlue Airways presently has an average rating of "Hold" and a consensus price target of $5.16.

JetBlue Airways Stock Performance

JBLU traded down $0.16 during midday trading on Friday, reaching $4.41. The company's stock had a trading volume of 14,726,823 shares, compared to its average volume of 21,818,568. The company has a fifty day simple moving average of $4.66 and a 200 day simple moving average of $5.41. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 3.31. JetBlue Airways Corporation has a twelve month low of $3.34 and a twelve month high of $8.31. The stock has a market cap of $1.56 billion, a P/E ratio of -5.38 and a beta of 1.76.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last released its earnings results on Tuesday, April 29th. The transportation company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.02. JetBlue Airways had a negative return on equity of 11.93% and a negative net margin of 3.12%. The company had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.17 billion. During the same period last year, the firm earned ($0.43) EPS. The business's revenue for the quarter was down 3.1% on a year-over-year basis. Research analysts expect that JetBlue Airways Corporation will post -0.69 earnings per share for the current year.

About JetBlue Airways

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.