California Public Employees Retirement System Cuts Stake in JetBlue Airways Corporation (JBLU)
California Public Employees Retirement System lowered its stake in shares of JetBlue Airways Corporation (NASDAQ:JBLU) by 2.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 765,404 shares of the transportation company’s stock after selling 15,300 shares during the period. California Public Employees Retirement System owned about 0.23% of JetBlue Airways Corporation worth $17,474,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE lifted its stake in JetBlue Airways Corporation by 1.8% in the 1st quarter. US Bancorp DE now owns 23,558 shares of the transportation company’s stock valued at $486,000 after buying an additional 424 shares in the last quarter. Karp Capital Management Corp acquired a new stake in JetBlue Airways Corporation in the 1st quarter worth about $1,388,000. Quantbot Technologies LP acquired a new stake in JetBlue Airways Corporation in the 1st quarter worth about $138,000. Blair William & Co. IL boosted its holdings in JetBlue Airways Corporation by 9.8% in the 1st quarter. Blair William & Co. IL now owns 20,150 shares of the transportation company’s stock worth $402,000 after buying an additional 1,800 shares during the last quarter. Finally, BB&T Securities LLC boosted its holdings in JetBlue Airways Corporation by 13.6% in the 1st quarter. BB&T Securities LLC now owns 13,735 shares of the transportation company’s stock worth $283,000 after buying an additional 1,645 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.
Several equities research analysts have commented on JBLU shares. Morgan Stanley cut their price objective on JetBlue Airways Corporation from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Thursday, August 17th. Standpoint Research restated a “buy” rating on shares of JetBlue Airways Corporation in a research report on Sunday, September 3rd. BidaskClub downgraded JetBlue Airways Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Zacks Investment Research raised JetBlue Airways Corporation from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Wednesday, July 12th. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $21.00 price target on shares of JetBlue Airways Corporation in a research note on Friday, September 8th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $25.40.
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Shares of JetBlue Airways Corporation (JBLU) opened at 18.53 on Monday. The company has a 50 day moving average of $20.33 and a 200-day moving average of $21.42. JetBlue Airways Corporation has a one year low of $16.81 and a one year high of $24.13. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 9.41 and a beta of 0.59.
JetBlue Airways Corporation (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, July 25th. The transportation company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.08. JetBlue Airways Corporation had a return on equity of 16.75% and a net margin of 9.78%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the business posted $0.53 earnings per share. JetBlue Airways Corporation’s revenue was up 12.1% compared to the same quarter last year. On average, analysts anticipate that JetBlue Airways Corporation will post $1.88 earnings per share for the current year.
In related news, CEO Robin Hayes sold 2,000 shares of JetBlue Airways Corporation stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $22.03, for a total transaction of $44,060.00. Following the completion of the sale, the chief executive officer now owns 406,362 shares in the company, valued at approximately $8,952,154.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP George Martin J. St sold 2,500 shares of JetBlue Airways Corporation stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $18.79, for a total value of $46,975.00. The disclosure for this sale can be found here. Insiders sold 23,740 shares of company stock worth $496,929 over the last 90 days. Company insiders own 0.60% of the company’s stock.
About JetBlue Airways Corporation
JetBlue Airways Corporation is a passenger carrier company. The Company provides air transportation services across the United States, the Caribbean and Latin America. Its segments include Domestic, and Caribbean & Latin America. It operates various kinds of aircrafts, including Airbus A321, Airbus A320 and Embraer E190.
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