Jabil Inc. (NYSE:JBL) Shares Sold by Signature Estate & Investment Advisors LLC

Signature Estate & Investment Advisors LLC decreased its holdings in shares of Jabil Inc. (NYSE:JBL - Free Report) by 28.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 16,914 shares of the technology company's stock after selling 6,880 shares during the period. Signature Estate & Investment Advisors LLC's holdings in Jabil were worth $2,027,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in JBL. Point72 Asset Management L.P. purchased a new stake in Jabil in the 2nd quarter worth approximately $78,660,000. AQR Capital Management LLC increased its position in Jabil by 195.8% during the second quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company's stock worth $115,404,000 after purchasing an additional 702,199 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in 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 acquiring an additional 310,590 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Jabil during the 1st quarter worth $39,040,000. Finally, Victory Capital Management Inc. increased its position in shares of Jabil by 72.0% during the second quarter. Victory Capital Management Inc. now owns 490,499 shares of the technology company's stock valued at $53,361,000 after acquiring an additional 205,331 shares during the last quarter. Hedge funds and other institutional investors own 93.39% of the company's stock.

Jabil Stock Performance

NYSE:JBL traded down $0.70 during mid-day trading on Friday, reaching $128.26. 1,070,235 shares of the stock were exchanged, compared to its average volume of 1,449,458. The stock has a market capitalization of $14.47 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.55 and a beta of 1.24. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94. The company has a 50 day simple moving average of $120.72 and a 200-day simple moving average of $115.34. 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 (NYSE:JBL - Get Free Report) last announced its earnings results on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, beating analysts' consensus estimates of $2.22 by $0.08. The business had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $6.59 billion. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The company's quarterly revenue was down 17.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.34 EPS. Analysts anticipate that Jabil Inc. will post 7.84 earnings per share for the current fiscal year.

Jabil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.25%. Jabil's dividend payout ratio (DPR) is currently 2.90%.

Insider Transactions at Jabil

In related news, EVP Frederic E. Mccoy sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $118.70, for a total value of $474,800.00. Following the completion of the transaction, the executive vice president now directly owns 108,753 shares of the company's stock, valued at $12,908,981.10. This trade represents a 3.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven A. Raymund sold 20,000 shares of the firm's stock in a transaction 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 completion of the transaction, the director now owns 139,108 shares of the company's stock, valued at approximately $17,346,767.60. This represents a 12.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,689 shares of company stock worth $5,377,431 over the last 90 days. 2.62% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

JBL has been the subject of several recent research reports. Barclays raised their price target on shares of Jabil from $135.00 to $157.00 and gave the company an "overweight" rating in a research report on Friday, September 27th. JPMorgan Chase & Co. decreased their price objective on shares of Jabil from $137.00 to $133.00 and set an "overweight" rating for the company in a research report on Tuesday, September 3rd. Bank of America increased their target price on Jabil from $135.00 to $150.00 and gave the company a "buy" rating in a report on Friday, September 27th. Finally, Stifel Nicolaus lifted their price target on Jabil from $130.00 to $140.00 and gave the stock a "buy" rating in a report on Friday, September 27th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $143.50.

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).