Te Ahumairangi Investment Management Ltd Trims Position in Jabil Inc. (NYSE:JBL)

Te Ahumairangi Investment Management Ltd trimmed its holdings in shares of Jabil Inc. (NYSE:JBL - Free Report) by 21.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,267 shares of the technology company's stock after selling 4,500 shares during the period. Te Ahumairangi Investment Management Ltd's holdings in Jabil were worth $2,341,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in Jabil during the fourth quarter worth $27,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Jabil during the fourth quarter valued at about $29,000. Millstone Evans Group LLC bought a new position in shares of Jabil during the 4th quarter worth 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 valued at $39,000 after buying an additional 130 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in Jabil by 113.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the technology company's stock valued at $43,000 after buying an additional 158 shares in the last quarter. Institutional investors and hedge funds own 93.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Stifel Nicolaus reiterated a "buy" rating and issued a $160.00 price target (up previously from $150.00) on shares of Jabil in a report on Thursday, December 19th. UBS Group increased their target price on Jabil from $152.00 to $157.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. StockNews.com upgraded shares of Jabil from a "hold" rating to a "buy" rating in a research note on Friday, March 21st. The Goldman Sachs Group upped their price objective on shares of Jabil from $160.00 to $179.00 and gave the stock a "buy" rating in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. lifted 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. One equities 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 an average rating of "Moderate Buy" and an average target price of $167.50.

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Insider Buying and Selling at Jabil

In other news, Director Christopher S. Holland sold 3,400 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $162.27, for a total transaction of $551,718.00. Following the completion of the transaction, the director now owns 12,900 shares in the company, valued at approximately $2,093,283. This represents a 20.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John C. Plant sold 50,000 shares of the company's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $172.55, for a total transaction of $8,627,500.00. Following the sale, the director now directly owns 5,900 shares in the company, valued at approximately $1,018,045. This trade represents a 89.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,400 shares of company stock worth $12,205,218 in the last quarter. 1.73% of the stock is currently owned by company insiders.

Jabil Stock Down 5.2 %

NYSE:JBL traded down $6.36 during trading hours on Friday, hitting $117.13. 3,385,071 shares of the company traded hands, compared to its average volume of 1,454,752. Jabil Inc. has a one year low of $95.85 and a one year high of $174.80. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The company has a market cap of $12.79 billion, a PE ratio of 11.23, a PEG ratio of 1.65 and a beta of 1.12. The firm's 50-day simple moving average is $150.60 and its 200-day simple moving average is $140.47.

Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $6.40 billion. During the same period in the prior year, the firm posted $1.68 EPS. The firm's quarterly revenue was down .6% compared to the same quarter last year. Equities analysts predict that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Announces Dividend

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

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).