Swiss National Bank Sells 20,400 Shares of Jabil Inc. (NYSE:JBL)

Swiss National Bank reduced its holdings in shares of Jabil Inc. (NYSE:JBL - Free Report) by 5.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 336,700 shares of the technology company's stock after selling 20,400 shares during the quarter. Swiss National Bank owned approximately 0.30% of Jabil worth $40,347,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JBL. Primecap Management Co. CA grew its position in Jabil by 3.0% in the second quarter. Primecap Management Co. CA now owns 3,682,875 shares of the technology company's stock valued at $400,660,000 after purchasing an additional 107,800 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Jabil by 7.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,636,737 shares of the technology company's stock valued at $178,058,000 after acquiring an additional 106,808 shares in the last quarter. Bank of New York Mellon Corp increased its position 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 acquiring an additional 310,590 shares during the last quarter. AQR Capital Management LLC raised its holdings 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 acquiring an additional 702,199 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Jabil during the second quarter valued at approximately $78,660,000. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Jabil from $137.00 to $133.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 3rd. Bank of America upped their price target on shares of Jabil from $135.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday, September 27th. Barclays lifted their price objective 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. Finally, Stifel Nicolaus raised their target price 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. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $143.50.

Insider Activity

In related news, SVP Francis Mckay sold 11,755 shares of Jabil stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $121.71, for a total value of $1,430,701.05. Following the transaction, the senior vice president now directly owns 41,507 shares of the company's stock, valued at $5,051,816.97. The trade was a 22.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Frederic E. Mccoy sold 4,000 shares of the company's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total transaction of $474,800.00. Following the completion of the sale, the executive vice president now directly owns 108,753 shares in the company, valued at approximately $12,908,981.10. This represents a 3.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,689 shares of company stock valued at $5,377,431 over the last quarter. 2.62% of the stock is owned by company insiders.

Jabil Stock Up 0.5 %

Shares of NYSE JBL opened at $128.18 on Thursday. The stock has a market capitalization of $14.46 billion, a P/E ratio of 11.63, a PEG ratio of 1.51 and a beta of 1.24. The stock's fifty day moving average is $122.79 and its 200 day moving average is $115.65. Jabil Inc. has a 52 week low of $95.85 and a 52 week high of $156.94. 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 (NYSE:JBL - Get Free Report) last issued its earnings results on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.22 by $0.08. The company had revenue of $6.96 billion during 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 business's revenue for the quarter was down 17.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.34 EPS. Sell-side analysts forecast that Jabil Inc. will post 7.84 earnings per share for the current fiscal year.

Jabil Announces Dividend

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

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).