Geode Capital Management LLC Reduces Position in Jabil Inc. (NYSE:JBL)

Geode Capital Management LLC cut its holdings in Jabil Inc. (NYSE:JBL - Free Report) by 5.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,775,945 shares of the technology company's stock after selling 145,199 shares during the quarter. Geode Capital Management LLC owned 2.46% of Jabil worth $331,882,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of JBL. Barclays PLC lifted its holdings in shares of Jabil by 33.5% in the 3rd quarter. Barclays PLC now owns 327,969 shares of the technology company's stock valued at $39,300,000 after acquiring an additional 82,312 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Jabil by 0.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 34,737 shares of the technology company's stock worth $4,163,000 after buying an additional 233 shares during the period. Y Intercept Hong Kong Ltd raised its stake in shares of Jabil by 157.2% in the third quarter. Y Intercept Hong Kong Ltd now owns 72,598 shares of the technology company's stock valued at $8,699,000 after acquiring an additional 44,372 shares during the period. XTX Topco Ltd lifted its holdings in shares of Jabil by 46.9% in the 3rd quarter. XTX Topco Ltd now owns 25,305 shares of the technology company's stock worth $3,032,000 after acquiring an additional 8,082 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of Jabil by 15.1% during the 3rd quarter. National Bank of Canada FI now owns 57,957 shares of the technology company's stock worth $6,945,000 after purchasing an additional 7,621 shares during the period. Institutional investors own 93.39% of the company's stock.

Insider Transactions at Jabil

In related news, EVP Frederic E. Mccoy sold 4,000 shares of the business's stock in a transaction on Tuesday, October 1st. The stock was 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 in the company, valued at $12,908,981.10. The trade was a 3.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Francis Mckay sold 11,755 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $121.71, for a total value of $1,430,701.05. Following the completion of the sale, the senior vice president now owns 41,507 shares of the company's stock, valued at approximately $5,051,816.97. This trade represents a 22.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,689 shares of company stock valued at $5,377,431. Corporate insiders own 2.62% of the company's stock.

Jabil Stock Up 1.1 %

Shares of JBL stock traded up $1.49 on Friday, hitting $135.13. The stock had a trading volume of 763,002 shares, compared to its average volume of 1,413,739. Jabil Inc. has a one year low of $95.85 and a one year high of $156.94. The business has a 50 day moving average price of $129.51 and a 200 day moving average price of $117.56. The company has a market cap of $15.25 billion, a PE ratio of 12.26, a P/E/G ratio of 1.57 and a beta of 1.25. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 1.66.

Jabil (NYSE:JBL - Get Free Report) last announced its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.08. The firm had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $6.59 billion. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The company's revenue was down 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.34 EPS. Research analysts anticipate that Jabil Inc. will post 7.89 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The business also recently declared 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 was Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. Jabil's dividend payout ratio is presently 2.90%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on JBL shares. Bank of America raised their price objective on shares of Jabil from $135.00 to $150.00 and gave the stock a "buy" rating in a research note on Friday, September 27th. Barclays boosted their price objective on Jabil from $135.00 to $157.00 and gave the company an "overweight" rating in a report on Friday, September 27th. JPMorgan Chase & Co. cut their price objective on Jabil from $137.00 to $133.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 3rd. StockNews.com upgraded Jabil from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, November 27th. Finally, Stifel Nicolaus upped their price target on shares of Jabil from $140.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $145.17.

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).