First Citizens Bank & Trust Co. Trims Stock Position in Jabil Inc (NYSE:JBL)

First Citizens Bank & Trust Co. cut its stake in Jabil Inc (NYSE:JBL) by 7.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,505 shares of the technology company’s stock after selling 492 shares during the period. First Citizens Bank & Trust Co.’s holdings in Jabil were worth $223,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC purchased a new stake in Jabil in the second quarter valued at $25,000. Captrust Financial Advisors purchased a new stake in shares of Jabil in the second quarter valued at about $103,000. Tower Research Capital LLC TRC raised its holdings in shares of Jabil by 22,210.0% in the first quarter. Tower Research Capital LLC TRC now owns 6,693 shares of the technology company’s stock valued at $165,000 after buying an additional 6,663 shares during the last quarter. Profund Advisors LLC purchased a new stake in shares of Jabil in the second quarter valued at about $202,000. Finally, Two Sigma Securities LLC purchased a new stake in shares of Jabil in the second quarter valued at about $202,000. 89.50% of the stock is owned by hedge funds and other institutional investors.

JBL has been the subject of a number of research reports. Goldman Sachs Group raised shares of Jabil from a “neutral” rating to a “buy” rating and upped their target price for the company from $36.00 to $40.00 in a report on Wednesday, July 15th. Citigroup upped their target price on shares of Jabil from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, September 18th. Royal Bank of Canada upped their target price on shares of Jabil from $35.00 to $38.00 and gave the company a “sector perform” rating in a report on Friday, September 25th. Zacks Investment Research cut shares of Jabil from a “buy” rating to a “sell” rating in a report on Wednesday, October 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of Jabil from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Jabil has a consensus rating of “Hold” and a consensus price target of $39.11.

In other Jabil news, Director Timothy L. Main sold 15,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $35.00, for a total transaction of $525,000.00. Following the transaction, the director now directly owns 292,583 shares in the company, valued at $10,240,405. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.81% of the company’s stock.

Shares of JBL opened at $36.31 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.66 and a debt-to-equity ratio of 1.47. The firm’s 50-day moving average is $33.84 and its two-hundred day moving average is $31.33. Jabil Inc has a twelve month low of $17.63 and a twelve month high of $44.20. The firm has a market capitalization of $5.47 billion, a P/E ratio of 106.80, a PEG ratio of 0.94 and a beta of 1.25.

Jabil (NYSE:JBL) last issued its earnings results on Thursday, September 24th. The technology company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.32. Jabil had a net margin of 0.20% and a return on equity of 5.25%. The company had revenue of $7.30 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same period in the prior year, the business posted $0.88 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. Analysts predict that Jabil Inc will post 3.26 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Monday, November 16th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.32 annualized dividend and a yield of 0.88%. Jabil’s payout ratio is currently 91.43%.

About Jabil

Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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).

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Institutional Ownership by Quarter for Jabil (NYSE:JBL)

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