Franklin Resources Inc. Sells 68,911 Shares of Jabil Inc. (NYSE:JBL)

Franklin Resources Inc. cut its holdings in Jabil Inc. (NYSE:JBL - Free Report) by 39.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,579 shares of the technology company's stock after selling 68,911 shares during the quarter. Franklin Resources Inc. owned about 0.09% of Jabil worth $13,279,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. HHM Wealth Advisors LLC bought a new position in Jabil during the second quarter worth $28,000. Innealta Capital LLC bought a new position in shares of Jabil during the 2nd quarter worth about $31,000. Capital Performance Advisors LLP acquired a new position in shares of Jabil during the third quarter valued at about $32,000. Family Firm Inc. bought a new stake in shares of Jabil in the second quarter valued at about $37,000. Finally, Brooklyn Investment Group acquired a new stake in Jabil during the third quarter worth about $39,000. Institutional investors and hedge funds own 93.39% of the company's stock.

Insider Transactions at Jabil

In related news, SVP Francis Mckay sold 11,755 shares of Jabil stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the completion of the transaction, the senior vice president now owns 41,507 shares in the company, valued at approximately $5,051,816.97. This trade represents a 22.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Matthew Crowley sold 1,380 shares of Jabil stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $125.83, for a total value of $173,645.40. Following the transaction, the executive vice president now owns 18,568 shares of the company's stock, valued at $2,336,411.44. This represents a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,689 shares of company stock valued at $5,377,431 over the last 90 days. 1.73% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. The Goldman Sachs Group raised their price objective on Jabil from $136.00 to $145.00 and gave the stock a "buy" rating in a research report on Wednesday. Bank of America boosted their price target on Jabil from $135.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, September 27th. UBS Group increased their price objective on Jabil from $128.00 to $152.00 and gave the stock a "neutral" rating in a research note on Thursday. Stifel Nicolaus reiterated a "buy" rating and set a $160.00 target price (up from $150.00) on shares of Jabil in a research report on Thursday. Finally, StockNews.com lowered shares of Jabil from a "strong-buy" rating to a "buy" rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $153.17.

Jabil Stock Up 3.2 %

Shares of Jabil stock opened at $145.00 on Friday. The business has a 50-day moving average of $130.72 and a two-hundred day moving average of $118.12. 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 $16.20 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 1.57 and a beta of 1.25.

Jabil (NYSE:JBL - Get Free Report) last announced its earnings results on Wednesday, December 18th. The technology company reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates of $1.88 by $0.12. The firm had revenue of $6.99 billion during the quarter, compared to analyst estimates of $6.61 billion. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The company's revenue for the quarter was down 16.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.60 EPS. As a group, equities analysts predict that Jabil Inc. will post 7.89 EPS for the current year.

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.22%. Jabil's dividend payout ratio (DPR) is presently 2.90%.

Jabil 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).