Corebridge Financial Inc. Has $3.86 Million Position in Jabil Inc. (NYSE:JBL)

Corebridge Financial Inc. trimmed its position in Jabil Inc. (NYSE:JBL - Free Report) by 6.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,807 shares of the technology company's stock after selling 1,842 shares during the period. Corebridge Financial Inc.'s holdings in Jabil were worth $3,858,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in JBL. SBI Securities Co. Ltd. bought a new position in Jabil during the fourth quarter valued at about $27,000. Millstone Evans Group LLC bought a new position in shares of Jabil during the 4th quarter valued at about $37,000. First Horizon Advisors Inc. grew its stake in shares of Jabil by 90.3% in the 4th quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company's stock worth $39,000 after purchasing an additional 130 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Jabil by 113.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the technology company's stock worth $43,000 after purchasing an additional 158 shares in the last quarter. Finally, GHP Investment Advisors Inc. acquired a new stake in Jabil during the fourth quarter valued at approximately $43,000. 93.39% of the stock is owned by institutional investors.

Jabil Stock Up 1.8 %

JBL traded up $2.45 on Wednesday, reaching $138.87. 912,111 shares of the company traded hands, compared to its average volume of 1,437,435. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $174.80. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72. The company has a market cap of $15.16 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.65 and a beta of 1.19. The stock's 50 day moving average price is $153.29 and its 200-day moving average price is $140.29.

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Jabil (NYSE:JBL - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $6.40 billion. During the same period in the prior year, the business posted $1.68 earnings per share. Jabil's revenue for the quarter was down .6% compared to the same quarter last year. On average, sell-side analysts expect that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a $0.08 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.23%. Jabil's dividend payout ratio is currently 7.66%.

Analyst Upgrades and Downgrades

JBL has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on Jabil from $172.00 to $175.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Stifel Nicolaus reiterated a "buy" rating and issued a $160.00 price target (up previously from $150.00) on shares of Jabil in a research report on Thursday, December 19th. Barclays upped their price objective on shares of Jabil from $179.00 to $184.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. UBS Group lifted their target price on shares of Jabil from $152.00 to $157.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Finally, StockNews.com upgraded shares of Jabil from a "hold" rating to a "buy" rating in a research report on Friday, March 21st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $167.50.

Insider Activity at Jabil

In related news, Director John C. Plant sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $172.55, for a total value of $8,627,500.00. Following the transaction, the director now directly owns 5,900 shares of the company's stock, valued at approximately $1,018,045. This trade represents a 89.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven A. Raymund sold 20,000 shares of the company's 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 sale, the director now directly owns 119,108 shares of the company's stock, valued at $18,021,040.40. The trade was a 14.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,400 shares of company stock valued at $12,804,458. 1.73% of the stock is currently owned by corporate insiders.

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).