Zacks Investment Management Cuts Holdings in Jabil Inc. (NYSE:JBL)

Zacks Investment Management lowered its holdings in shares of Jabil Inc. (NYSE:JBL - Free Report) by 60.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,702 shares of the technology company's stock after selling 4,165 shares during the period. Zacks Investment Management's holdings in Jabil were worth $324,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of JBL. Nicola Wealth Management LTD. increased its position in shares of Jabil by 54.9% during the third quarter. Nicola Wealth Management LTD. now owns 39,500 shares of the technology company's stock worth $4,733,000 after buying an additional 14,000 shares during the period. Foster & Motley Inc. grew its holdings in Jabil by 8.7% in the third quarter. Foster & Motley Inc. now owns 52,173 shares of the technology company's stock worth $6,252,000 after purchasing an additional 4,181 shares during the period. Empowered Funds LLC grew its holdings in Jabil by 11.8% in the third quarter. Empowered Funds LLC now owns 145,682 shares of the technology company's stock worth $17,457,000 after purchasing an additional 15,413 shares during the period. Stanley Laman Group Ltd. acquired a new stake in Jabil in the second quarter worth $3,937,000. Finally, BNP Paribas Financial Markets grew its holdings in Jabil by 58.7% in the third quarter. BNP Paribas Financial Markets now owns 192,815 shares of the technology company's stock worth $23,105,000 after purchasing an additional 71,292 shares during the period. Institutional investors own 93.39% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. 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 report on Friday, September 27th. StockNews.com upgraded shares of Jabil from a "buy" rating to a "strong-buy" rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. reduced 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. Barclays raised 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. Finally, Stifel Nicolaus raised 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. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Jabil has a consensus rating of "Moderate Buy" and a consensus price target of $145.17.

Insiders Place Their Bets

In other news, EVP Matthew Crowley sold 1,380 shares of Jabil stock in a transaction dated 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 transaction, the executive vice president now owns 18,568 shares in the company, valued at $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 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 that occurred 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 transaction, the executive vice president now directly owns 108,753 shares of the company's stock, valued at approximately $12,908,981.10. This represents a 3.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,689 shares of company stock valued at $5,377,431. Company insiders own 2.62% of the company's stock.

Jabil Stock Up 0.7 %

Shares of JBL traded up $0.97 during trading hours on Wednesday, reaching $133.72. 673,287 shares of the stock traded hands, compared to its average volume of 1,418,590. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66. The stock has a fifty day simple moving average of $128.67 and a 200 day simple moving average of $117.23. Jabil Inc. has a 52 week low of $95.85 and a 52 week high of $156.94. The company has a market cap of $15.09 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 1.59 and a beta of 1.25.

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

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend was Friday, November 15th. Jabil's dividend 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).