Huntington National Bank Has $349,000 Stake in Jabil Inc. (NYSE:JBL)

Huntington National Bank lowered its stake in shares of Jabil Inc. (NYSE:JBL - Free Report) by 55.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,424 shares of the technology company's stock after selling 2,994 shares during the quarter. Huntington National Bank's holdings in Jabil were worth $349,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in Jabil by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company's stock valued at $404,024,000 after purchasing an additional 34,574 shares during the period. Alliancebernstein L.P. grew its stake in shares of Jabil by 48.6% in the fourth quarter. Alliancebernstein L.P. now owns 218,461 shares of the technology company's stock worth $31,437,000 after acquiring an additional 71,437 shares during the last quarter. Meeder Asset Management Inc. increased its position in Jabil by 37.3% during the fourth quarter. Meeder Asset Management Inc. now owns 11,859 shares of the technology company's stock worth $1,707,000 after acquiring an additional 3,224 shares during the period. Wellington Management Group LLP raised its stake in Jabil by 70,781.4% during the 4th quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company's stock valued at $835,876,000 after purchasing an additional 5,800,535 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in Jabil by 1.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 80,214 shares of the technology company's stock worth $11,543,000 after purchasing an additional 1,168 shares during the last quarter. Institutional investors and hedge funds own 93.39% of the company's stock.

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Jabil Price Performance

Jabil stock traded down $6.40 during mid-day trading on Thursday, hitting $130.99. 672,854 shares of the company were exchanged, compared to its average volume of 1,469,836. Jabil Inc. has a 1-year low of $95.85 and a 1-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 business has a fifty day moving average of $147.20 and a 200 day moving average of $140.82. The company has a market capitalization of $14.30 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 1.65 and a beta of 1.12.

Jabil (NYSE:JBL - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.11. The firm had revenue of $6.73 billion during 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 quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the firm posted $1.68 EPS. As a group, sell-side analysts expect that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid a $0.08 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. Jabil's dividend payout ratio (DPR) is presently 7.66%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on JBL shares. StockNews.com raised shares of Jabil from a "hold" rating to a "buy" rating in a research report on Friday, March 21st. The Goldman Sachs Group raised their price objective on Jabil from $160.00 to $179.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. Barclays boosted their price objective on Jabil from $179.00 to $184.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. UBS Group raised their target price on Jabil from $152.00 to $157.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Finally, Stifel Nicolaus reissued 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. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $167.50.

Insider Activity at Jabil

In related news, Director Steven A. Raymund sold 20,000 shares of the firm's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $151.30, for a total value of $3,026,000.00. Following the transaction, the director now owns 119,108 shares in the company, valued at $18,021,040.40. This trade represents a 14.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher S. Holland sold 3,400 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $162.27, for a total value of $551,718.00. Following the sale, 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 disclosure for this sale can be found here. Insiders sold 73,400 shares of company stock valued at $12,205,218 over the last ninety days. 1.73% of the stock is owned by insiders.

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).