California Public Employees Retirement System Sells 19,550 Shares of Jabil Inc. (NYSE:JBL)

California Public Employees Retirement System reduced its stake in Jabil Inc. (NYSE:JBL - Free Report) by 8.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 212,983 shares of the technology company's stock after selling 19,550 shares during the period. California Public Employees Retirement System owned 0.20% of Jabil worth $30,648,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in shares of Jabil during the fourth quarter worth approximately $27,000. Murphy & Mullick Capital Management Corp purchased a new position in Jabil during the fourth quarter worth about $29,000. Millstone Evans Group LLC purchased a new position in shares of Jabil during the 4th quarter worth approximately $37,000. First Horizon Advisors Inc. lifted its holdings in Jabil by 90.3% in the fourth quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company's stock valued at $39,000 after acquiring an additional 130 shares during the period. Finally, GHP Investment Advisors Inc. acquired a new stake in shares of Jabil in the fourth quarter valued at about $43,000. 93.39% of the stock is owned by hedge funds and other institutional investors.

Jabil Stock Up 3.5 %

Shares of JBL stock traded up $4.11 during trading hours on Monday, hitting $120.99. 2,737,430 shares of the company were exchanged, compared to its average volume of 1,459,862. The stock has a market capitalization of $13.21 billion, a price-to-earnings ratio of 11.60, a P/E/G ratio of 1.65 and a beta of 1.12. The business's 50-day simple moving average is $149.84 and its two-hundred day simple moving average is $140.77. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. Jabil Inc. has a one year low of $95.85 and a one year high of $174.80.

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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 EPS for the quarter, beating the consensus estimate of $1.83 by $0.11. The business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.40 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. During the same period in the previous year, the business posted $1.68 EPS. The company's quarterly revenue was down .6% on a year-over-year basis. Sell-side analysts predict that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil's dividend payout ratio (DPR) is 7.66%.

Wall Street Analysts Forecast Growth

JBL has been the topic of several recent research reports. UBS Group boosted their price objective 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. 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. The Goldman Sachs Group boosted their target price on Jabil from $160.00 to $179.00 and gave the stock a "buy" rating in a report on Monday, February 24th. Barclays upped their price target on shares of Jabil from $179.00 to $184.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Jabil from $172.00 to $175.00 and gave the company an "overweight" 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 company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $167.50.

Insider Activity at Jabil

In other Jabil news, Director Steven A. Raymund sold 20,000 shares of the company's stock in a transaction dated Friday, January 10th. The shares were 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 of the company's stock, valued at approximately $18,021,040.40. This represents a 14.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher S. Holland sold 3,400 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $162.27, for a total transaction of $551,718.00. Following the sale, the director now directly owns 12,900 shares of the company's stock, valued at approximately $2,093,283. This represents a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,400 shares of company stock worth $12,205,218 in the last three months. 1.73% of the stock is owned by company 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).