Sumitomo Mitsui Trust Group Inc. Lowers Position in Jabil Inc. (NYSE:JBL)

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Jabil Inc. (NYSE:JBL - Free Report) by 2.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 264,134 shares of the technology company's stock after selling 5,931 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Jabil worth $31,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of JBL. Point72 Asset Management L.P. bought a new stake in shares of Jabil during the second quarter valued at approximately $78,660,000. AQR Capital Management LLC grew its holdings in shares of Jabil by 195.8% in the second quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company's stock valued at $115,404,000 after purchasing an additional 702,199 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Jabil by 29.0% in the second quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company's stock valued at $150,463,000 after purchasing an additional 310,590 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Jabil by 72.0% in the second quarter. Victory Capital Management Inc. now owns 490,499 shares of the technology company's stock valued at $53,361,000 after purchasing an additional 205,331 shares in the last quarter. Finally, Railway Pension Investments Ltd purchased a new position in shares of Jabil in the second quarter valued at $17,200,000. Institutional investors own 93.39% of the company's stock.

Insider Transactions at Jabil

In related news, SVP Francis Mckay sold 11,755 shares of Jabil stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $121.71, for a total value of $1,430,701.05. Following the completion of the sale, the senior vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Matthew Crowley sold 1,380 shares of the company's stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $125.83, for a total transaction of $173,645.40. Following the completion of the sale, the executive vice president now directly owns 18,568 shares of the company's stock, valued at approximately $2,336,411.44. This trade represents a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,689 shares of company stock worth $5,377,431. 2.62% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Jabil from $137.00 to $133.00 and set an "overweight" rating for the company in a report on Tuesday, September 3rd. Stifel Nicolaus raised their target price on shares of Jabil from $130.00 to $140.00 and gave the company a "buy" rating in a report on Friday, September 27th. Bank of America raised their target price on shares of Jabil from $135.00 to $150.00 and gave the company a "buy" rating in a report on Friday, September 27th. Finally, Barclays raised their target price on shares of Jabil from $135.00 to $157.00 and gave the company an "overweight" rating in a report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Jabil presently has a consensus rating of "Moderate Buy" and an average price target of $143.50.

Jabil Trading Down 0.5 %

NYSE JBL traded down $0.70 on Friday, hitting $128.26. 1,074,020 shares of the stock were exchanged, compared to its average volume of 1,183,391. 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 stock has a fifty day moving average price of $121.26 and a two-hundred day moving average price of $115.39. The firm has a market capitalization of $14.47 billion, a P/E ratio of 11.64, a P/E/G ratio of 1.51 and a beta of 1.24. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $156.94.

Jabil (NYSE:JBL - Get Free Report) last released its earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.08. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.59 billion. During the same period last year, the company earned $2.34 earnings per share. The business's revenue for the quarter was down 17.7% compared to the same quarter last year. Research analysts forecast that Jabil Inc. will post 7.84 EPS for the current fiscal year.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.25%. Jabil's dividend payout ratio (DPR) is 2.90%.

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).