Victory Capital Management Inc. Sells 74,626 Shares of Jabil Inc. (NYSE:JBL)

Victory Capital Management Inc. reduced its position in shares of Jabil Inc. (NYSE:JBL - Free Report) by 15.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 415,873 shares of the technology company's stock after selling 74,626 shares during the quarter. Victory Capital Management Inc. owned 0.37% of Jabil worth $49,834,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Primecap Management Co. CA increased its position in shares of Jabil by 3.0% during the second quarter. Primecap Management Co. CA now owns 3,682,875 shares of the technology company's stock valued at $400,660,000 after acquiring an additional 107,800 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Jabil by 7.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,636,737 shares of the technology company's stock worth $178,058,000 after purchasing an additional 106,808 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Jabil by 29.0% during 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. AQR Capital Management LLC boosted its position in shares of Jabil by 195.8% during 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 buying an additional 702,199 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Jabil in the 2nd quarter worth about $78,660,000. 93.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Barclays raised their price target on shares of Jabil from $135.00 to $157.00 and gave the company an "overweight" rating in a report on Friday, September 27th. JPMorgan Chase & Co. dropped their target price on shares of Jabil from $137.00 to $133.00 and set an "overweight" rating on the stock in a report on Tuesday, September 3rd. Bank of America boosted their target price on shares of Jabil from $135.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, September 27th. Finally, Stifel Nicolaus raised their price target on Jabil from $130.00 to $140.00 and gave the stock a "buy" rating in a research note on Friday, September 27th. Two investment 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 company has a consensus rating of "Moderate Buy" and an average price target of $143.50.

Insider Activity at Jabil

In related news, EVP Matthew Crowley sold 1,380 shares of Jabil stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $125.83, for a total transaction of $173,645.40. Following the sale, the executive vice president now 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven A. Raymund sold 20,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $124.70, for a total transaction of $2,494,000.00. Following the sale, the director now directly owns 139,108 shares of the company's stock, valued at approximately $17,346,767.60. This trade represents a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,689 shares of company stock worth $5,377,431. 2.62% of the stock is owned by company insiders.

Jabil Stock Performance

JBL traded down $0.70 during trading on Friday, hitting $128.26. The company's stock had a trading volume of 1,074,020 shares, compared to its average volume of 1,449,458. The business's 50 day simple moving average is $121.26 and its 200-day simple moving average is $115.39. The firm has a market cap of $14.47 billion, a PE ratio of 11.64, a P/E/G ratio of 1.55 and a beta of 1.24. Jabil Inc. has a one year low of $95.85 and a one year high of $156.94. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 1.66.

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

Jabil Announces Dividend

The business also recently disclosed 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 is Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. Jabil's payout ratio is currently 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).