Jabil Inc. (NYSE:JBL) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its stake in shares of Jabil Inc. (NYSE:JBL - Free Report) by 39.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 390,036 shares of the technology company's stock after selling 250,795 shares during the period. Legal & General Group Plc owned approximately 0.36% of Jabil worth $56,126,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in JBL. Meyer Handelman Co. acquired a new stake in shares of Jabil during the fourth quarter worth about $7,334,000. Davis Investment Partners LLC acquired a new stake in shares of Jabil in the fourth quarter worth $1,433,000. Truist Financial Corp lifted its position in Jabil by 50.4% during the fourth quarter. Truist Financial Corp now owns 12,037 shares of the technology company's stock valued at $1,732,000 after purchasing an additional 4,034 shares during the period. Merit Financial Group LLC purchased a new stake in Jabil in the fourth quarter valued at $235,000. Finally, Keybank National Association OH purchased a new position in shares of Jabil during the 4th quarter valued at about $214,000. Hedge funds and other institutional investors own 93.39% of the company's stock.

Jabil Price Performance

Shares of Jabil stock traded up $1.61 during mid-day trading on Tuesday, reaching $135.47. 1,202,949 shares of the stock traded hands, compared to its average volume of 1,480,775. The stock has a market capitalization of $14.54 billion, a PE ratio of 12.99, a PEG ratio of 1.65 and a beta of 1.12. The business has a 50-day moving average of $145.46 and a 200 day moving average of $141.26. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $174.80. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

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Jabil (NYSE:JBL - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The technology company reported $1.94 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter in the prior year, the firm earned $1.68 EPS. Jabil's quarterly revenue was down .6% on a year-over-year basis. On average, analysts predict that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil's dividend payout ratio is currently 7.66%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on JBL shares. Barclays lifted their price target on Jabil from $179.00 to $184.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. UBS Group raised their price target on shares of Jabil from $152.00 to $157.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Stifel Nicolaus reissued a "buy" rating and set a $160.00 target price (up from $150.00) on shares of Jabil in a research note on Thursday, December 19th. JPMorgan Chase & Co. lifted their price target on Jabil from $172.00 to $175.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Finally, StockNews.com upgraded Jabil from a "hold" rating to a "buy" rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Jabil has a consensus rating of "Moderate Buy" and a consensus price target of $162.00.

Insider Activity at Jabil

In related news, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $131.56, for a total value of $2,631,200.00. Following the completion of the transaction, the chairman now directly owns 1,730,192 shares in the company, valued at approximately $227,624,059.52. This represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christopher S. Holland sold 3,400 shares of Jabil stock in a transaction on Friday, January 31st. The shares were sold at an average price of $162.27, for a total value of $551,718.00. Following the completion of the sale, the director now owns 12,900 shares in the company, valued at $2,093,283. This represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,400 shares of company stock valued at $11,810,418. 1.73% of the stock is owned by company insiders.

About Jabil

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).