Prudential Financial Inc. Cuts Stock Holdings in Jabil Inc. (NYSE:JBL)

Prudential Financial Inc. lessened its position in shares of Jabil Inc. (NYSE:JBL - Free Report) by 12.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,520 shares of the technology company's stock after selling 8,413 shares during the quarter. Prudential Financial Inc. owned about 0.06% of Jabil worth $8,853,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of JBL. Meyer Handelman Co. acquired a new position in shares of Jabil during the fourth quarter valued at about $7,334,000. Davis Investment Partners LLC acquired a new position in Jabil during the 4th quarter valued at approximately $1,433,000. Truist Financial Corp increased its stake in Jabil by 50.4% during the 4th 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 in the last quarter. Merit Financial Group LLC purchased a new position in shares of Jabil in the fourth quarter worth $235,000. Finally, Keybank National Association OH acquired a new stake in shares of Jabil during the fourth quarter worth $214,000. Hedge funds and other institutional investors own 93.39% of the company's stock.

Insider Buying and Selling

In related news, EVP Frederic E. Mccoy sold 4,000 shares of Jabil stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $149.81, for a total value of $599,240.00. Following the sale, the executive vice president now owns 138,472 shares of the company's stock, valued at approximately $20,744,490.32. This trade represents a 2.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher S. Holland sold 3,400 shares of the business's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $162.27, for a total transaction of $551,718.00. Following the completion of the sale, the director now directly owns 12,900 shares of the company's stock, valued at approximately $2,093,283. The trade was a 20.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,400 shares of company stock valued at $12,804,458. 1.73% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on JBL. StockNews.com raised Jabil from a "hold" rating to a "buy" rating in a research report on Friday, March 21st. JPMorgan Chase & Co. increased their price objective on Jabil from $172.00 to $175.00 and gave the company an "overweight" rating in a report on Friday, March 21st. UBS Group lifted their target price on Jabil from $152.00 to $157.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. The Goldman Sachs Group increased their price target on shares of Jabil from $160.00 to $179.00 and gave the stock a "buy" rating in a report on Monday, February 24th. Finally, Stifel Nicolaus restated a "buy" rating and set a $160.00 price objective (up from $150.00) on shares of Jabil in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $167.50.

Jabil Stock Performance

NYSE:JBL traded down $15.47 during trading hours on Thursday, reaching $123.28. The company had a trading volume of 2,538,583 shares, compared to its average volume of 1,444,384. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $174.80. The business's 50 day moving average price is $151.73 and its 200-day moving average price is $140.16. The firm has a market cap of $13.46 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 1.65 and a beta of 1.19.

Jabil (NYSE:JBL - Get Free Report) last posted its earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.11. The firm had revenue of $6.73 billion during the quarter, compared to analysts' expectations of $6.40 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The business's revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.68 EPS. Research analysts forecast that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. Jabil's dividend payout ratio is presently 7.66%.

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).