Mutual of America Reduces Stake in Zebra Technologies by 2.4%

Mutual of America Capital Management LLC has decreased its holdings in Zebra Technologies Corporation (NASDAQ: ZBRA) by 2.4% during the second quarter. According to the firm’s most recent 13F filing with the Securities and Exchange Commission, the institutional investor now owns 5,831 shares of the industrial products company, having sold 144 shares in the period. As of the latest filing, these holdings are valued at approximately $1.798 million.

This reduction is part of a broader trend, as other institutional investors have also adjusted their positions in Zebra Technologies. For instance, Trust Co. of Toledo NA acquired a new stake valued at $25,000 during the same quarter. Other notable transactions include Zions Bancorporation National Association, which invested $27,000, and Cary Street Partners Investment Advisory LLC, which added $29,000. Brooklyn Investment Group notably increased its stake by 101.9%, now holding 107 shares worth $30,000 after acquiring an additional 54 shares.

Institutional investors collectively own an impressive 91.03% of Zebra Technologies’ stock, signaling strong confidence in the company’s potential.

Analysts Adjust Price Targets for Zebra Technologies

Recent reports from various research firms have led to adjusted price targets for Zebra Technologies. On August 6, 2023, Morgan Stanley raised its target from $280.00 to $300.00, giving the stock an “equal weight” rating. Similarly, Robert W. Baird increased its target from $320.00 to $367.00, rating the stock as “outperform” on July 14, 2023.

Needham & Company LLC also raised its price target from $325.00 to $345.00, emphasizing a “buy” rating in its research. On July 10, 2023, BNP Paribas Exane upgraded its rating from “neutral” to “outperform,” setting a target of $408.00. Truist Financial adjusted its target from $319.00 to $350.00 on October 8, 2023, maintaining a “hold” rating.

Currently, one analyst has rated Zebra Technologies with a Strong Buy, while six have issued Buy ratings and five assigned Hold ratings. Data from MarketBeat.com indicates a consensus rating of “Moderate Buy” with an average target price of $369.56.

Zebra Technologies’ Financial Performance and Future Guidance

On August 5, 2023, Zebra Technologies released its quarterly earnings, reporting an earnings per share (EPS) of $3.61, which surpassed the consensus estimate of $3.31 by $0.30. The company’s revenue for the quarter stood at $1.29 billion, aligning with analysts’ expectations. A net margin of 10.56% and a return on equity of 18.95% were also reported, with revenue increasing by 6.2% compared to the same quarter last year, where the EPS was $3.18.

Zebra Technologies has set its guidance for the fiscal year 2025 at $15.250 to $15.750 EPS, with third-quarter 2025 guidance between $3.600 to $3.800 EPS. Analysts anticipate the company will post an EPS of $13.71 for the current year.

In a strategic move, Zebra Technologies’ board approved a stock buyback plan worth $250 million, permitting the repurchase of up to 1.4% of its outstanding shares through open market purchases. Such buyback plans typically indicate a belief from company leadership that their shares are undervalued.

Zebra Technologies Corporation, along with its subsidiaries, specializes in enterprise asset intelligence solutions within the automatic identification and data capture sector. The company operates through two primary segments: Asset Intelligence & Tracking, and Enterprise Visibility & Mobility. Its product range includes printers for labels, wristbands, tickets, and receipts, as well as accessories and customized thermal labels.

For those interested in tracking institutional holdings and insider trades of Zebra Technologies, resources such as HoldingsChannel.com provide the latest 13F filings and insights.