Amalgamated Bank Sells 15,868 Shares of Jabil Inc. (NYSE:JBL)

Amalgamated Bank reduced its stake in Jabil Inc. (NYSE:JBL - Free Report) by 41.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,539 shares of the technology company's stock after selling 15,868 shares during the period. Amalgamated Bank's holdings in Jabil were worth $2,701,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Point72 Asset Management L.P. bought a new stake in Jabil in the 2nd quarter worth about $78,660,000. AQR Capital Management LLC boosted its holdings in Jabil by 195.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company's stock worth $115,404,000 after buying an additional 702,199 shares during the period. Bank of New York Mellon Corp boosted its holdings in Jabil by 29.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company's stock worth $150,463,000 after buying an additional 310,590 shares during the period. Westfield Capital Management Co. LP bought a new position in Jabil in the 1st quarter worth $39,040,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of Jabil by 72.0% during the 2nd quarter. Victory Capital Management Inc. now owns 490,499 shares of the technology company's stock valued at $53,361,000 after purchasing an additional 205,331 shares during the last quarter. 93.39% of the stock is owned by hedge funds and other institutional investors.

Jabil Price Performance

Shares of NYSE JBL traded down $0.23 during mid-day trading on Monday, hitting $135.52. 1,191,494 shares of the company's stock traded hands, compared to its average volume of 1,457,151. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94. The company has a market capitalization of $15.29 billion, a P/E ratio of 12.30, a PEG ratio of 1.60 and a beta of 1.24. The company's 50-day moving average is $119.04 and its two-hundred day moving average is $115.03.

Jabil (NYSE:JBL - Get Free Report) last posted its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, topping analysts' consensus estimates of $2.22 by $0.08. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.59 billion. During the same period in the prior year, the company posted $2.34 EPS. The firm's revenue for the quarter was down 17.7% on a year-over-year basis. On average, equities analysts anticipate that Jabil Inc. will post 7.84 EPS for the current fiscal year.

Jabil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend is Friday, November 15th. Jabil's dividend payout ratio (DPR) is presently 2.90%.

Insider Transactions at Jabil

In other news, EVP Frederic E. Mccoy sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total transaction of $474,800.00. Following the transaction, the executive vice president now directly owns 108,753 shares of the company's stock, valued at approximately $12,908,981.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Francis Mckay sold 11,755 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the transaction, the senior vice president now directly owns 41,507 shares in the company, valued at approximately $5,051,816.97. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Frederic E. Mccoy sold 4,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total transaction of $474,800.00. Following the transaction, the executive vice president now owns 108,753 shares in the company, valued at approximately $12,908,981.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,689 shares of company stock valued at $5,377,431. 2.62% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on JBL shares. Bank of America increased their price objective on shares of Jabil from $135.00 to $150.00 and gave the company a "buy" rating in a report on Friday, September 27th. Barclays increased their price objective on shares of Jabil from $135.00 to $157.00 and gave the company an "overweight" rating in a report on Friday, September 27th. Stifel Nicolaus increased their price objective on shares of Jabil from $130.00 to $140.00 and gave the company a "buy" rating in a report on Friday, September 27th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Jabil from $137.00 to $133.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $143.50.

Jabil Company Profile

Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; electronic circuit design services, such as application-specific integrated circuit design, firmware development, and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA).