Kentucky Retirement Systems Sells 551 Shares of Jabil Inc. (NYSE:JBL)

Kentucky Retirement Systems lowered its holdings in shares of Jabil Inc. (NYSE:JBL) by 5.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,686 shares of the technology company’s stock after selling 551 shares during the period. Kentucky Retirement Systems’ holdings in Jabil were worth $1,297,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of JBL. Benjamin Edwards Inc. bought a new stake in Jabil during the 1st quarter worth about $25,000. Activest Wealth Management acquired a new position in Jabil during the 1st quarter worth approximately $28,000. Alaska Permanent Fund Corp acquired a new position in Jabil during the 4th quarter worth approximately $29,000. ORG Partners LLC acquired a new position in Jabil during the 1st quarter worth approximately $29,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Jabil in the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 93.39% of the company’s stock.

Insider Transactions at Jabil

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 completion of the sale, the senior vice president now owns 24,829 shares of the company’s stock, valued at $2,905,986.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP May Yee Yap sold 4,274 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was 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 filing with the SEC, which is accessible through this hyperlink. Also, EVP Frederic E. Mccoy sold 1,250 shares of the business’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 completion of the sale, the executive vice president now owns 112,753 shares in the company, valued at $13,126,704.26. The disclosure for this sale can be found here. Company insiders own 2.62% of the company’s stock.

Analyst Upgrades and Downgrades

JBL has been the topic of a number of research analyst reports. Bank of America dropped their price target on Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. UBS Group reduced their price objective on Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, June 21st. Barclays reduced their price objective on Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on Jabil from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.63.

Jabil Stock Performance

Shares of NYSE JBL traded up $0.03 during trading on Friday, reaching $110.38. 1,210,941 shares of the stock traded hands, compared to its average volume of 1,496,130. The company has a 50-day moving average of $115.12 and a 200-day moving average of $125.47. The stock has a market capitalization of $12.52 billion, a P/E ratio of 10.04, a price-to-earnings-growth ratio of 1.97 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.74. Jabil Inc. has a 52-week low of $100.18 and a 52-week high of $156.94.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Thursday, June 20th. The technology company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.53 billion. Jabil had a return on equity of 40.30% and a net margin of 4.63%. Jabil’s revenue for the quarter was down 20.2% compared to the same quarter last year. During the same period last year, the firm posted $1.85 EPS. Analysts forecast that Jabil Inc. will post 7.86 EPS for the current fiscal year.

Jabil Dividend Announcement

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