Allspring Global Investments Holdings LLC Lowers Holdings in Jabil Inc. (NYSE:JBL)

Allspring Global Investments Holdings LLC lessened its stake in shares of Jabil Inc. (NYSE:JBL - Free Report) by 16.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 251,292 shares of the technology company's stock after selling 49,563 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.22% of Jabil worth $30,112,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new position in shares of Jabil in the second quarter valued at approximately $78,660,000. AQR Capital Management LLC boosted its stake 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 during the period. Bank of New York Mellon Corp boosted its stake 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 during the period. Westfield Capital Management Co. LP purchased a new position in shares of Jabil in the first quarter valued at approximately $39,040,000. Finally, Victory Capital Management Inc. boosted its stake 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 during the period. Hedge funds and other institutional investors own 93.39% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on JBL. Stifel Nicolaus raised their price objective on shares of Jabil from $130.00 to $140.00 and gave the company a "buy" rating in a research note on Friday, September 27th. Bank of America lifted their price target on shares of Jabil from $135.00 to $150.00 and gave the stock a "buy" rating in a research note on Friday, September 27th. JPMorgan Chase & Co. decreased their price target on shares of Jabil from $137.00 to $133.00 and set an "overweight" rating for the company in a research note on Tuesday, September 3rd. Finally, Barclays lifted 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. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $143.50.

Insider Activity

In other news, EVP Frederic E. Mccoy sold 4,000 shares of Jabil stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total value of $474,800.00. Following the transaction, the executive vice president now directly owns 108,753 shares of the company's stock, valued at $12,908,981.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Frederic E. Mccoy sold 4,000 shares of Jabil stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total value of $474,800.00. Following the transaction, the executive vice president now directly owns 108,753 shares of the company's stock, valued at $12,908,981.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Matthew Crowley sold 2,271 shares of Jabil stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $123.54, for a total transaction of $280,559.34. Following the completion of the transaction, the executive vice president now directly owns 15,564 shares in the company, valued at $1,922,776.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,651 shares of company stock valued at $929,005 in the last ninety days. 2.62% of the stock is currently owned by company insiders.

Jabil Stock Up 1.7 %

JBL stock traded up $2.09 during midday trading on Thursday, reaching $125.03. 1,040,798 shares of the company were exchanged, compared to its average volume of 1,471,795. 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 Inc. has a 1-year low of $95.85 and a 1-year high of $156.94. The stock's 50-day simple moving average is $113.54 and its 200 day simple moving average is $115.12. The company has a market cap of $14.18 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25.

Jabil (NYSE:JBL - Get Free Report) last released its quarterly earnings data 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 company had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $6.59 billion. During the same quarter last year, the company earned $2.34 earnings per share. The firm's revenue for the quarter was down 17.7% on a year-over-year basis. On average, equities analysts forecast that Jabil Inc. will post 7.84 earnings per share for the current year.

Jabil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be issued 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 yield of 0.26%. Jabil's payout ratio is currently 2.91%.

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).