Point72 Asset Management L.P. Reduces Holdings in Jabil Inc. (NYSE:JBL)

Point72 Asset Management L.P. lessened its holdings in Jabil Inc. (NYSE:JBL - Free Report) by 87.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,185 shares of the technology company's stock after selling 635,863 shares during the period. Point72 Asset Management L.P. owned about 0.08% of Jabil worth $10,447,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Cetera Investment Advisers lifted its position in shares of Jabil by 141.7% during the first quarter. Cetera Investment Advisers now owns 17,350 shares of the technology company's stock valued at $2,324,000 after purchasing an additional 10,173 shares in the last quarter. CWM LLC boosted its position in Jabil by 104.9% in the second quarter. CWM LLC now owns 5,591 shares of the technology company's stock worth $608,000 after purchasing an additional 2,863 shares during the last quarter. Simplicity Wealth LLC boosted its position in Jabil by 15.7% in the second quarter. Simplicity Wealth LLC now owns 2,365 shares of the technology company's stock worth $257,000 after purchasing an additional 321 shares during the last quarter. U.S. Capital Wealth Advisors LLC bought a new position in Jabil in the 2nd quarter valued at $203,000. Finally, SG Americas Securities LLC increased its position in shares of Jabil by 89.2% during the 2nd quarter. SG Americas Securities LLC now owns 39,627 shares of the technology company's stock valued at $4,311,000 after purchasing an additional 18,687 shares during the last quarter. Institutional investors and hedge funds own 93.39% of the company's stock.

Jabil Price Performance

NYSE JBL traded down $0.14 during trading hours on Friday, hitting $135.64. The company had a trading volume of 824,678 shares, compared to its average volume of 1,032,642. The firm has a 50 day simple moving average of $128.11 and a 200 day simple moving average of $117.03. Jabil Inc. has a 52 week low of $95.85 and a 52 week high of $156.94. The firm has a market capitalization of $15.31 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 1.61 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.

Jabil (NYSE:JBL - Get Free Report) last posted its earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, topping analysts' consensus estimates of $2.22 by $0.08. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.59 billion. During the same quarter in the prior year, the firm posted $2.34 EPS. Jabil's revenue was down 17.7% on a year-over-year basis. Equities research analysts expect that Jabil Inc. will post 7.84 earnings per share for the current year.

Jabil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were given 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 Friday, November 15th. Jabil's payout ratio is 2.90%.

Insider Buying and Selling

In related news, EVP Matthew Crowley sold 1,380 shares of the business's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $125.83, for a total value of $173,645.40. Following the completion of the sale, the executive vice president now owns 18,568 shares in the company, valued at $2,336,411.44. The trade was a 6.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Francis Mckay sold 11,755 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the transaction, the senior vice president now owns 41,507 shares in the company, valued at $5,051,816.97. The trade was a 22.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,689 shares of company stock worth $5,377,431. Insiders own 2.62% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on JBL shares. JPMorgan Chase & Co. reduced their price target on shares of Jabil from $137.00 to $133.00 and set an "overweight" rating for the company in a research report on Tuesday, September 3rd. Barclays raised their price target on shares of Jabil from $135.00 to $157.00 and gave the stock an "overweight" rating in a research note on Friday, September 27th. Bank of America upped their price objective on Jabil from $135.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, September 27th. Stifel Nicolaus raised their target price on Jabil from $140.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, StockNews.com upgraded Jabil from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, November 27th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Jabil has an average rating of "Moderate Buy" and a consensus price target of $145.17.

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).