Jabil Inc. (NYSE:JBL) Shares Sold by Covestor Ltd

Covestor Ltd decreased its holdings in shares of Jabil Inc. (NYSE:JBL) by 29.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 477 shares of the technology company’s stock after selling 203 shares during the period. Covestor Ltd’s holdings in Jabil were worth $64,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in JBL. Czech National Bank grew its stake in shares of Jabil by 0.3% in the 1st quarter. Czech National Bank now owns 22,439 shares of the technology company’s stock valued at $3,006,000 after purchasing an additional 73 shares during the last quarter. HB Wealth Management LLC lifted its stake in shares of Jabil by 3.9% in the 4th quarter. HB Wealth Management LLC now owns 2,183 shares of the technology company’s stock worth $278,000 after acquiring an additional 82 shares during the period. Beacon Pointe Advisors LLC boosted its holdings in shares of Jabil by 2.5% in the fourth quarter. Beacon Pointe Advisors LLC now owns 3,377 shares of the technology company’s stock valued at $430,000 after acquiring an additional 83 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Jabil by 0.9% during the fourth quarter. Mackenzie Financial Corp now owns 10,258 shares of the technology company’s stock worth $1,307,000 after acquiring an additional 90 shares during the period. Finally, Field & Main Bank raised its holdings in Jabil by 5.6% during the fourth quarter. Field & Main Bank now owns 1,875 shares of the technology company’s stock worth $239,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on JBL. Barclays dropped their target price on Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. UBS Group decreased their target price on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, June 21st. Bank of America cut their price target on shares of Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a report on Friday, June 21st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Jabil from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, June 17th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Jabil has a consensus rating of “Moderate Buy” and a consensus target price of $142.63.

Jabil Stock Performance

Shares of JBL opened at $111.05 on Thursday. The company has a 50-day moving average of $115.32 and a two-hundred day moving average of $125.75. The stock has a market cap of $12.60 billion, a P/E ratio of 10.10, a PEG ratio of 2.00 and a beta of 1.27. Jabil Inc. has a 12-month low of $100.18 and a 12-month 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 posted its earnings results on Thursday, June 20th. The technology company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.53 billion. Jabil had a return on equity of 40.30% and a net margin of 4.63%. Jabil’s revenue was down 20.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.85 EPS. As a group, research analysts predict that Jabil Inc. will post 7.86 EPS for the current fiscal year.

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.29%. Jabil’s dividend payout ratio (DPR) is 2.91%.

Insiders Place Their Bets

In other news, SVP May Yee Yap sold 4,274 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total value of $500,228.96. Following the completion of the transaction, the senior vice president now owns 24,829 shares of the company’s stock, valued at $2,905,986.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP May Yee Yap sold 4,274 shares of Jabil stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total value of $500,228.96. Following the transaction, the senior vice president now owns 24,829 shares in the company, valued at $2,905,986.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Frederic E. Mccoy sold 1,250 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $116.42, for a total value of $145,525.00. Following the sale, the executive vice president now owns 112,753 shares of the company’s stock, valued at $13,126,704.26. The disclosure for this sale can be found here. 2.62% of the stock is owned by corporate insiders.

Jabil Company 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).