Jabil Inc. (NYSE:JBL) Holdings Trimmed by Assetmark Inc.

Assetmark Inc. lessened its stake in shares of Jabil Inc. (NYSE:JBL - Free Report) by 98.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 375 shares of the technology company's stock after selling 24,024 shares during the period. Assetmark Inc.'s holdings in Jabil were worth $45,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of JBL. HHM Wealth Advisors LLC acquired a new stake in shares of Jabil in the second quarter valued at approximately $28,000. Innealta Capital LLC purchased a new position in shares of Jabil during the 2nd quarter worth $31,000. Capital Performance Advisors LLP acquired a new position in shares of Jabil during the 3rd quarter valued at about $32,000. Family Firm Inc. purchased a new stake in shares of Jabil in the second quarter valued at about $37,000. Finally, Matrix Trust Co grew its holdings in shares of Jabil by 135.4% in the third quarter. Matrix Trust Co now owns 372 shares of the technology company's stock valued at $45,000 after purchasing an additional 214 shares during the period. 93.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on JBL shares. Barclays lifted their price objective on Jabil from $135.00 to $157.00 and gave the company an "overweight" rating in a research note on Friday, September 27th. JPMorgan Chase & Co. cut their price target on shares of Jabil from $137.00 to $133.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 3rd. Bank of America raised their price objective 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 increased their target price on shares of Jabil from $130.00 to $140.00 and gave the stock a "buy" 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $143.50.

Insider Activity

In other Jabil news, EVP Matthew Crowley sold 1,380 shares of the company'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 transaction, the executive vice president now directly owns 18,568 shares of the company's stock, valued at $2,336,411.44. This represents a 6.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 value of $2,494,000.00. Following the transaction, the director now 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. Insiders have sold 43,689 shares of company stock worth $5,377,431 over the last 90 days. Company insiders own 2.62% of the company's stock.

Jabil Trading Down 0.7 %

Shares of JBL stock traded down $0.94 during mid-day trading on Tuesday, hitting $127.35. 371,609 shares of the company's stock were exchanged, compared to its average volume of 1,441,725. The stock has a market cap of $14.37 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 1.51 and a beta of 1.24. 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 Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $156.94. The stock has a 50-day simple moving average of $121.77 and a two-hundred day simple moving average of $115.49.

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

Jabil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.25%. The ex-dividend date is Friday, November 15th. 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).