JPMorgan Chase & Co. lowered its position in Jabil Inc. (NYSE:JBL - Free Report) by 61.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,588,793 shares of the technology company's stock after selling 2,519,618 shares during the quarter. JPMorgan Chase & Co. owned 1.42% of Jabil worth $190,385,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in JBL. Synovus Financial Corp grew its holdings in Jabil by 92.8% during the 3rd quarter. Synovus Financial Corp now owns 18,056 shares of the technology company's stock valued at $2,164,000 after buying an additional 8,693 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Jabil in the third quarter valued at $347,000. Sanctuary Advisors LLC lifted its position in shares of Jabil by 1.3% in the third quarter. Sanctuary Advisors LLC now owns 46,101 shares of the technology company's stock valued at $6,045,000 after acquiring an additional 573 shares in the last quarter. Te Ahumairangi Investment Management Ltd boosted its stake in shares of Jabil by 365.6% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 20,767 shares of the technology company's stock valued at $2,474,000 after acquiring an additional 16,307 shares during the last quarter. Finally, Virtu Financial LLC increased its position in Jabil by 157.9% during the 3rd quarter. Virtu Financial LLC now owns 15,091 shares of the technology company's stock worth $1,808,000 after purchasing an additional 9,239 shares in the last quarter. Institutional investors and hedge funds own 93.39% of the company's stock.
Insider Activity
In related news, SVP Francis Mckay sold 11,755 shares of the firm's stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the sale, the senior vice president now directly owns 41,507 shares in the company, valued at approximately $5,051,816.97. This trade represents a 22.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Frederic E. Mccoy sold 4,283 shares of the company's stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $122.28, for a total value of $523,725.24. Following the completion of the transaction, the executive vice president now owns 142,472 shares of the company's stock, valued at approximately $17,421,476.16. This represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,689 shares of company stock valued at $4,902,631. Company insiders own 1.73% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on JBL. StockNews.com lowered shares of Jabil from a "strong-buy" rating to a "buy" rating in a report on Thursday, December 19th. Bank of America raised their target price on shares of Jabil from $135.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday, September 27th. The Goldman Sachs Group boosted their price target on Jabil from $136.00 to $145.00 and gave the company a "buy" rating in a report on Wednesday, December 18th. UBS Group raised their price objective on Jabil from $128.00 to $152.00 and gave the stock a "neutral" rating in a report on Thursday, December 19th. Finally, Barclays upped their target price on Jabil from $157.00 to $179.00 and gave the company an "overweight" rating in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $153.17.
Get Our Latest Analysis on JBL
Jabil Trading Up 0.1 %
Shares of JBL traded up $0.14 during trading hours on Wednesday, hitting $143.90. The stock had a trading volume of 760,075 shares, compared to its average volume of 1,439,935. Jabil Inc. has a 12-month low of $95.85 and a 12-month high of $156.94. The firm has a market cap of $16.07 billion, a P/E ratio of 13.06, a P/E/G ratio of 1.58 and a beta of 1.25. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.72 and a current ratio of 1.09. The company's fifty day simple moving average is $134.09 and its 200 day simple moving average is $119.75.
Jabil (NYSE:JBL - Get Free Report) last released its quarterly earnings data on Wednesday, December 18th. The technology company reported $2.00 EPS for the quarter, topping analysts' consensus estimates of $1.88 by $0.12. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The company had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $6.61 billion. During the same period last year, the business posted $2.60 EPS. The company's quarterly revenue was down 16.6% compared to the same quarter last year. Equities research analysts forecast that Jabil Inc. will post 7.89 EPS for the current fiscal year.
Jabil Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.32 annualized dividend and a yield of 0.22%. Jabil's dividend payout ratio is currently 3.07%.
Jabil Profile
(
Free Report)
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).
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