State Street Corp Has $618.19 Million Stock Holdings in Jabil Inc. (NYSE:JBL)

State Street Corp lessened its holdings in shares of Jabil Inc. (NYSE:JBL - Free Report) by 7.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,158,836 shares of the technology company's stock after selling 392,835 shares during the period. State Street Corp owned about 4.57% of Jabil worth $618,188,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Stevens Capital Management LP lifted its holdings in shares of Jabil by 21.2% during the 3rd quarter. Stevens Capital Management LP now owns 3,962 shares of the technology company's stock worth $475,000 after acquiring an additional 694 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Jabil during the 3rd quarter worth approximately $1,960,000. Quantinno Capital Management LP lifted its holdings in shares of Jabil by 54.7% during the 3rd quarter. Quantinno Capital Management LP now owns 97,397 shares of the technology company's stock worth $11,671,000 after acquiring an additional 34,449 shares during the period. Quarry LP lifted its holdings in shares of Jabil by 134.2% during the 3rd quarter. Quarry LP now owns 1,499 shares of the technology company's stock worth $180,000 after acquiring an additional 859 shares during the period. Finally, Redwood Investment Management LLC lifted its holdings in shares of Jabil by 4.1% during the 3rd quarter. Redwood Investment Management LLC now owns 13,220 shares of the technology company's stock worth $1,617,000 after acquiring an additional 519 shares during the period. Institutional investors and hedge funds own 93.39% of the company's stock.

Jabil Trading Down 1.0 %

NYSE JBL traded down $1.37 on Monday, hitting $134.27. The company's stock had a trading volume of 963,246 shares, compared to its average volume of 1,423,970. 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 Inc. has a 1-year low of $95.85 and a 1-year high of $156.94. The company's 50-day moving average is $128.11 and its 200 day moving average is $117.03. The firm has a market cap of $15.15 billion, a PE ratio of 12.31, a PEG ratio of 1.59 and a beta of 1.25.

Jabil (NYSE:JBL - Get Free Report) last announced its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.08. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The firm had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $6.59 billion. During the same period in the prior year, the company posted $2.34 EPS. The company's revenue was down 17.7% on a year-over-year basis. As a group, analysts predict that Jabil Inc. will post 7.89 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. The ex-dividend date was Friday, November 15th. Jabil's dividend payout ratio (DPR) is presently 2.90%.

Analyst Ratings Changes

JBL has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Jabil from $137.00 to $133.00 and set an "overweight" rating for the company in a report on Tuesday, September 3rd. StockNews.com raised shares of Jabil from a "buy" rating to a "strong-buy" rating in a report on Wednesday, November 27th. Stifel Nicolaus increased their price objective on shares of Jabil from $140.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Bank of America increased their price objective on shares of Jabil from $135.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, September 27th. Finally, Barclays increased their price objective on shares of Jabil from $135.00 to $157.00 and gave the company an "overweight" rating in a research note on Friday, September 27th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $145.17.

Insider Transactions at Jabil

In other Jabil news, EVP Matthew Crowley sold 1,380 shares of the firm's stock in a transaction on Friday, October 18th. The shares were sold at an average price of $125.83, for a total value of $173,645.40. Following the completion of the sale, the executive vice president now directly owns 18,568 shares in the company, valued at approximately $2,336,411.44. This trade represents a 6.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven A. Raymund sold 20,000 shares of the firm's stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $124.70, for a total transaction of $2,494,000.00. Following the completion of the sale, the director now owns 139,108 shares of the company's stock, valued at $17,346,767.60. The trade was a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,689 shares of company stock worth $5,377,431 over the last three months. 2.62% 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).