Weiss Asset Management LP Sells 92,191 Shares of Jabil Inc. (NYSE:JBL)

Weiss Asset Management LP trimmed its position in shares of Jabil Inc. (NYSE:JBL - Free Report) by 81.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,835 shares of the technology company's stock after selling 92,191 shares during the period. Weiss Asset Management LP's holdings in Jabil were worth $2,497,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its position in shares of Jabil by 6.0% during the third quarter. Van ECK Associates Corp now owns 1,589 shares of the technology company's stock worth $195,000 after buying an additional 90 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in Jabil by 2.9% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,234 shares of the technology company's stock worth $387,000 after acquiring an additional 91 shares in the last quarter. Gateway Investment Advisers LLC increased its position in shares of Jabil by 3.5% in the 3rd quarter. Gateway Investment Advisers LLC now owns 3,139 shares of the technology company's stock worth $376,000 after purchasing an additional 105 shares during the last quarter. Richard P Slaughter Associates Inc raised its stake in shares of Jabil by 0.7% in the 3rd quarter. Richard P Slaughter Associates Inc now owns 17,624 shares of the technology company's stock valued at $2,112,000 after purchasing an additional 120 shares in the last quarter. Finally, Private Advisor Group LLC lifted its position in shares of Jabil by 4.9% during the third quarter. Private Advisor Group LLC now owns 2,578 shares of the technology company's stock worth $309,000 after purchasing an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 93.39% of the company's stock.

Analyst Ratings Changes

JBL has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced 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 raised 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 increased their price objective on shares of Jabil from $135.00 to $157.00 and gave the stock an "overweight" rating in a research note on Friday, September 27th. Stifel Nicolaus lifted their target price on Jabil from $140.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, StockNews.com raised Jabil from a "buy" rating to a "strong-buy" rating in a report on Wednesday, November 27th. Two investment 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 company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $145.17.

Insider Activity at Jabil

In related news, EVP Matthew Crowley sold 1,380 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $125.83, for a total transaction of $173,645.40. Following the sale, the executive vice president now directly owns 18,568 shares in the company, valued at $2,336,411.44. This represents a 6.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Francis Mckay sold 11,755 shares of the business's stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 41,507 shares in the company, valued at approximately $5,051,816.97. This represents a 22.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,689 shares of company stock worth $5,377,431. Company insiders own 2.62% of the company's stock.

Jabil Stock Down 0.1 %

Shares of NYSE:JBL traded down $0.14 during trading on Friday, reaching $135.64. 824,678 shares of the company traded hands, compared to its average volume of 1,032,642. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $156.94. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. The firm has a market cap of $15.31 billion, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 1.61 and a beta of 1.25. The firm has a fifty day simple moving average of $128.11 and a 200 day simple moving average of $117.04.

Jabil (NYSE:JBL - Get Free Report) last posted its earnings results on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.22 by $0.08. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.59 billion. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The company'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 firm posted $2.34 earnings per share. Analysts anticipate that Jabil Inc. will post 7.84 earnings per share for the current fiscal year.

Jabil Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date was Friday, November 15th. Jabil's dividend payout ratio 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).