Townsquare Capital LLC Has $1.19 Million Stake in Zebra Technologies Corporation (NASDAQ:ZBRA)

Key Points

• Townsquare Capital LLC reduced its stake in Zebra Technologies by 44.2%, now holding 4,213 shares valued at $1.19 million.
• In recent quarters, several institutional investors, including Vanguard Group Inc. and Victory Capital Management Inc., increased their holdings in Zebra Technologies significantly.
• Zebra Technologies initiated a stock repurchase plan allowing the company to repurchase up to $250 million in outstanding shares, indicating a belief that its stock is undervalued.

Townsquare Capital LLC trimmed its position in Zebra Technologies Corporation (NASDAQ:ZBRA - Free Report) by 44.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,213 shares of the industrial products company's stock after selling 3,333 shares during the quarter. Townsquare Capital LLC's holdings in Zebra Technologies were worth $1,190,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Zebra Technologies by 1.7% in the first quarter. Vanguard Group Inc. now owns 6,365,470 shares of the industrial products company's stock valued at $1,798,627,000 after purchasing an additional 104,940 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Zebra Technologies by 7.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,296,412 shares of the industrial products company's stock valued at $500,701,000 after purchasing an additional 86,766 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Zebra Technologies by 27.5% in the first quarter. Victory Capital Management Inc. now owns 1,183,710 shares of the industrial products company's stock valued at $334,469,000 after purchasing an additional 255,193 shares in the last quarter. Northern Trust Corp raised its stake in shares of Zebra Technologies by 17.2% in the fourth quarter. Northern Trust Corp now owns 497,363 shares of the industrial products company's stock valued at $192,092,000 after purchasing an additional 72,989 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Zebra Technologies by 36.4% in the first quarter. Bank of New York Mellon Corp now owns 442,788 shares of the industrial products company's stock valued at $125,114,000 after purchasing an additional 118,247 shares in the last quarter. 91.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ZBRA shares. UBS Group cut their target price on Zebra Technologies from $425.00 to $410.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Citigroup reiterated a "neutral" rating and set a $342.00 price objective (up from $280.00) on shares of Zebra Technologies in a research note on Monday, July 14th. Barclays increased their price objective on Zebra Technologies from $263.00 to $301.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Wall Street Zen lowered Zebra Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Finally, Robert W. Baird increased their price objective on Zebra Technologies from $320.00 to $367.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Zebra Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $357.44.

Zebra Technologies Price Performance

Shares of ZBRA stock opened at $337.80 on Thursday. The stock's fifty day moving average is $315.28 and its 200-day moving average is $298.82. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.46. The stock has a market capitalization of $17.18 billion, a PE ratio of 31.90 and a beta of 1.75. Zebra Technologies Corporation has a 52 week low of $205.73 and a 52 week 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 EPS for the quarter, topping the consensus estimate of $3.31 by $0.30. The company had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.29 billion. Zebra Technologies had a return on equity of 18.95% and a net margin of 10.56%. The business's revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.18 earnings per share. Equities research analysts expect that Zebra Technologies Corporation will post 13.71 EPS for the current fiscal year.

Zebra Technologies declared that its board has initiated a stock repurchase plan 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 plans are typically an indication that the company's leadership believes its shares are 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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