Franklin Resources Inc. Reduces Position in Jabil Inc. (NYSE:JBL)

Franklin Resources Inc. lowered its stake in Jabil Inc. (NYSE:JBL - Free Report) by 45.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,906 shares of the technology company's stock after selling 47,673 shares during the quarter. Franklin Resources Inc. owned about 0.05% of Jabil worth $8,333,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in JBL. Meyer Handelman Co. purchased a new position in shares of Jabil in the 4th quarter worth $7,334,000. Davis Investment Partners LLC purchased a new position in shares of Jabil during the fourth quarter worth approximately $1,433,000. Truist Financial Corp raised its position in Jabil by 50.4% during the 4th quarter. Truist Financial Corp now owns 12,037 shares of the technology company's stock valued at $1,732,000 after purchasing an additional 4,034 shares in the last quarter. Merit Financial Group LLC bought a new stake in shares of Jabil in the fourth quarter valued at about $235,000. Finally, Keybank National Association OH bought a new stake in shares of Jabil in the 4th quarter valued at about $214,000. Hedge funds and other institutional investors own 93.39% of the company's stock.

Insider Buying and Selling at Jabil

In related news, Director Christopher S. Holland sold 3,400 shares of the stock in a transaction dated Friday, January 31st. The shares were 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 directly owns 12,900 shares of the company's stock, valued at $2,093,283. This represents a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John C. Plant sold 50,000 shares of the firm's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $172.55, for a total value of $8,627,500.00. Following the completion of the sale, 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 disclosure for this sale can be found here. 1.73% of the stock is currently owned by insiders.

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Analysts Set New Price Targets

Several analysts have recently commented on JBL shares. The Goldman Sachs Group decreased their price objective on Jabil from $175.00 to $146.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $160.00 price objective (up from $150.00) on shares of Jabil in a report on Thursday, December 19th. JPMorgan Chase & Co. upped their target price on Jabil from $172.00 to $175.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. UBS Group increased their target price on shares of Jabil from $152.00 to $157.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Finally, StockNews.com upgraded Jabil from a "hold" rating to a "buy" rating in a report on Friday, March 21st. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Jabil currently has a consensus rating of "Moderate Buy" and a consensus price target of $162.00.

Jabil Trading Up 1.5 %

Shares of NYSE JBL traded up $1.95 during mid-day trading on Tuesday, reaching $135.81. 169,666 shares of the company's stock were exchanged, compared to its average volume of 1,476,741. The company's 50-day moving average is $145.46 and its 200-day moving average is $141.26. The firm has a market capitalization of $14.58 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 1.65 and a beta of 1.12. 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 quick ratio of 0.72 and a current ratio of 1.06.

Jabil (NYSE:JBL - Get Free Report) last announced its earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.11. The firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.40 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The firm's revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.68 EPS. Analysts expect that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.24%. The ex-dividend date was Tuesday, February 18th. Jabil's payout ratio is 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).