BI Asset Management Fondsmaeglerselskab A S Sells 36,889 Shares of Jabil Inc. (NYSE:JBL)

BI Asset Management Fondsmaeglerselskab A S reduced its position in Jabil Inc. (NYSE:JBL) by 84.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,684 shares of the technology company’s stock after selling 36,889 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Jabil were worth $895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Central Pacific Bank Trust Division purchased a new position in shares of Jabil in the first quarter valued at about $569,000. Daiwa Securities Group Inc. grew its stake in shares of Jabil by 8.3% during the first quarter. Daiwa Securities Group Inc. now owns 12,699 shares of the technology company’s stock valued at $1,701,000 after buying an additional 971 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Jabil by 3.1% during the first quarter. Nordea Investment Management AB now owns 9,199 shares of the technology company’s stock valued at $1,242,000 after buying an additional 278 shares during the last quarter. Tobam purchased a new stake in shares of Jabil in the first quarter valued at approximately $1,692,000. Finally, Hunter Associates Investment Management LLC boosted its holdings in shares of Jabil by 24.9% in the first quarter. Hunter Associates Investment Management LLC now owns 12,849 shares of the technology company’s stock valued at $1,715,000 after purchasing an additional 2,559 shares during the period. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Kenneth S. Wilson sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $134.20, for a total value of $2,013,000.00. Following the sale, the chief executive officer now directly owns 339,725 shares in the company, valued at approximately $45,591,095. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.62% of the stock is owned by insiders.

Analyst Ratings Changes

JBL has been the subject of a number of analyst reports. UBS Group lowered their target price on Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, June 21st. Barclays cut their price target on Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. JPMorgan Chase & Co. lowered their target price on shares of Jabil from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, June 17th. Argus lowered shares of Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, Bank of America decreased their target price on shares of Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.63.

Jabil Trading Up 2.8 %

Shares of JBL traded up $3.03 during mid-day trading on Wednesday, reaching $113.04. The company had a trading volume of 313,689 shares, compared to its average volume of 1,478,498. The stock has a market cap of $13.63 billion, a price-to-earnings ratio of 10.01, a price-to-earnings-growth ratio of 1.96 and a beta of 1.27. The firm has a fifty day simple moving average of $116.06 and a 200-day simple moving average of $126.80. Jabil Inc. has a fifty-two week low of $100.18 and a fifty-two week high of $156.94. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 1.26.

Jabil (NYSE:JBL) last released its quarterly earnings results on Thursday, June 20th. The technology company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.53 billion. Jabil had a net margin of 4.63% and a return on equity of 40.30%. The firm’s quarterly revenue was down 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.85 EPS. On average, sell-side analysts anticipate that Jabil Inc. will post 7.86 EPS for the current fiscal year.

Jabil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. Jabil’s dividend payout ratio (DPR) is 2.91%.

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).