Jabil Inc. (NYSE:JBL) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. cut its holdings in Jabil Inc. (NYSE:JBL - Free Report) by 12.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 61,520 shares of the technology company's stock after selling 8,413 shares during the period. Prudential Financial Inc. owned 0.06% of Jabil worth $8,853,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its stake in Jabil by 23.4% in the third quarter. The Manufacturers Life Insurance Company now owns 91,895 shares of the technology company's stock valued at $11,012,000 after purchasing an additional 17,411 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Jabil in the 3rd quarter valued at about $39,000. BNP Paribas Financial Markets increased its stake in shares of Jabil by 58.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 192,815 shares of the technology company's stock valued at $23,105,000 after acquiring an additional 71,292 shares during the last quarter. CreativeOne Wealth LLC lifted its holdings in shares of Jabil by 29.0% during the 3rd quarter. CreativeOne Wealth LLC now owns 3,969 shares of the technology company's stock worth $476,000 after acquiring an additional 892 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Jabil by 7.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 95,660 shares of the technology company's stock worth $11,463,000 after acquiring an additional 6,436 shares during the last quarter. Hedge funds and other institutional investors own 93.39% of the company's stock.

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Jabil Stock Up 1.0 %

NYSE:JBL traded up $1.33 during mid-day trading on Wednesday, hitting $137.75. The company had a trading volume of 367,250 shares, compared to its average volume of 1,435,452. The business has a fifty day simple moving average of $153.29 and a 200-day simple moving average of $140.29. The firm has a market capitalization of $15.04 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 1.65 and a beta of 1.19. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $174.80. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81.

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

Jabil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.23%. The ex-dividend date was Tuesday, February 18th. Jabil's dividend payout ratio (DPR) is 7.66%.

Insiders Place Their Bets

In related news, Director John C. Plant sold 50,000 shares of Jabil stock in a transaction on Friday, January 24th. The shares were sold at an average price of $172.55, for a total value of $8,627,500.00. Following the completion of the sale, the director now owns 5,900 shares in the company, valued at approximately $1,018,045. The trade was a 89.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven A. Raymund sold 20,000 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $151.30, for a total transaction of $3,026,000.00. Following the transaction, the director now owns 119,108 shares in the company, valued at $18,021,040.40. This trade represents a 14.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,400 shares of company stock worth $12,804,458 in the last quarter. 1.73% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on JBL. 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 research note on Monday, February 24th. JPMorgan Chase & Co. increased their target price on Jabil from $172.00 to $175.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. StockNews.com raised Jabil from a "hold" rating to a "buy" rating in a research report on Friday, March 21st. Stifel Nicolaus restated a "buy" rating and issued a $160.00 price objective (up from $150.00) on shares of Jabil in a report on Thursday, December 19th. Finally, Barclays lifted their price objective on Jabil from $179.00 to $184.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. 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 stock presently has an average rating of "Moderate Buy" and an average target price of $167.50.

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).