Corebridge Financial Inc. Reduces Position in Jabil Inc. (NYSE:JBL)

Corebridge Financial Inc. lessened its holdings in Jabil Inc. (NYSE:JBL - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,807 shares of the technology company's stock after selling 1,842 shares during the quarter. Corebridge Financial Inc.'s holdings in Jabil were worth $3,858,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Stevens Capital Management LP lifted its stake in shares of Jabil by 43.1% during the fourth quarter. Stevens Capital Management LP now owns 5,669 shares of the technology company's stock worth $816,000 after buying an additional 1,707 shares during the period. LPL Financial LLC lifted its position in Jabil by 23.5% during the 4th quarter. LPL Financial LLC now owns 40,748 shares of the technology company's stock worth $5,864,000 after acquiring an additional 7,747 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Jabil during the 4th quarter valued at about $5,756,000. American Century Companies Inc. increased its holdings in shares of Jabil by 5.6% in the fourth quarter. American Century Companies Inc. now owns 246,198 shares of the technology company's stock valued at $35,428,000 after purchasing an additional 13,161 shares during the period. Finally, Mizuho Securities USA LLC raised its stake in shares of Jabil by 45.4% in the fourth quarter. Mizuho Securities USA LLC now owns 10,695 shares of the technology company's stock worth $1,539,000 after purchasing an additional 3,339 shares during the last quarter. Hedge funds and other institutional investors own 93.39% of the company's stock.

Insider Activity

In other Jabil news, Director John C. Plant sold 50,000 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $172.55, for a total transaction of $8,627,500.00. Following the completion of the transaction, the director now owns 5,900 shares of the company's stock, valued at $1,018,045. This represents a 89.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven A. Raymund sold 20,000 shares of Jabil stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $151.30, for a total value of $3,026,000.00. Following the completion of the sale, the director now directly owns 119,108 shares in the company, valued at $18,021,040.40. This represents a 14.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 73,400 shares of company stock worth $12,205,218 in the last quarter. Corporate insiders own 1.73% of the company's stock.

Jabil Stock Performance

Shares of JBL traded down $6.36 during trading hours on Friday, hitting $117.13. The stock had a trading volume of 3,385,071 shares, compared to its average volume of 1,453,528. The firm has a market capitalization of $12.79 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.65 and a beta of 1.12. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. The firm has a 50-day moving average price of $150.60 and a 200 day moving average price of $140.24. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $174.80.

Jabil (NYSE:JBL - Get Free Report) last posted its earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The business had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same period in the prior year, the company posted $1.68 EPS. The company's revenue for the quarter was down .6% on a year-over-year basis. As a group, research analysts anticipate that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil's dividend payout ratio (DPR) is presently 7.66%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on JBL shares. StockNews.com upgraded Jabil from a "hold" rating to a "buy" rating in a research report on Friday, March 21st. JPMorgan Chase & Co. upped their price objective on shares of Jabil from $172.00 to $175.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Barclays raised their target price on shares of Jabil from $179.00 to $184.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Stifel Nicolaus restated a "buy" rating and set a $160.00 target price (up from $150.00) on shares of Jabil in a research report on Thursday, December 19th. Finally, UBS Group increased their price target on Jabil from $152.00 to $157.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Jabil has an average rating of "Moderate Buy" and an average price target of $167.50.

About Jabil

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).