Wellington Management Group LLP Sells 838,048 Shares of Jabil Inc. (NYSE:JBL)

Wellington Management Group LLP trimmed its stake in shares of Jabil Inc. (NYSE:JBL - Free Report) by 99.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,195 shares of the technology company's stock after selling 838,048 shares during the quarter. Wellington Management Group LLP's holdings in Jabil were worth $982,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. HHM Wealth Advisors LLC bought a new position in shares of Jabil during the second quarter valued at approximately $28,000. Innealta Capital LLC acquired a new stake in Jabil in the second quarter worth about $31,000. Capital Performance Advisors LLP bought a new position in Jabil in the 3rd quarter valued at about $32,000. Family Firm Inc. acquired a new position in Jabil during the 2nd quarter valued at about $37,000. Finally, Brooklyn Investment Group bought a new stake in shares of Jabil during the 3rd quarter worth about $39,000. 93.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on JBL shares. Barclays increased their price objective on shares of Jabil from $157.00 to $179.00 and gave the company an "overweight" rating in a report on Friday. Bank of America increased their price target on Jabil from $135.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, September 27th. StockNews.com downgraded Jabil from a "strong-buy" rating to a "buy" rating in a research note on Thursday. JPMorgan Chase & Co. decreased their target price on Jabil from $137.00 to $133.00 and set an "overweight" rating for the company in a research note on Tuesday, September 3rd. Finally, UBS Group lifted their target price on Jabil from $128.00 to $152.00 and gave the stock a "neutral" rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $153.17.

Insider Buying and Selling at Jabil

In other Jabil news, Director Steven A. Raymund sold 20,000 shares of the firm's stock in a transaction dated 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 transaction, the director now directly owns 139,108 shares in the company, valued at $17,346,767.60. This trade represents a 12.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Frederic E. Mccoy sold 4,000 shares of the business's stock in a transaction dated 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 sale, the executive vice president now directly owns 108,753 shares of the company's stock, valued at $12,908,981.10. This represents a 3.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,689 shares of company stock valued at $5,377,431 in the last quarter. Company insiders own 1.73% of the company's stock.

Jabil Trading Up 3.2 %

JBL stock traded up $4.56 during mid-day trading on Friday, reaching $145.00. 6,852,215 shares of the stock traded hands, compared to its average volume of 1,455,591. The stock's fifty day moving average is $130.72 and its 200-day moving average is $118.12. The company has a market cap of $16.20 billion, a P/E ratio of 13.16, a P/E/G ratio of 1.57 and a beta of 1.25. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $156.94.

Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings results on Wednesday, December 18th. The technology company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.88 by $0.12. The business had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $6.61 billion. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The firm's quarterly revenue was down 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.60 EPS. As a group, sell-side analysts expect that Jabil Inc. will post 7.89 earnings per share for the current year.

Jabil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th were given a $0.08 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.22%. Jabil's payout ratio is 2.90%.

Jabil Profile

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).