State Street Corp Reduces Position in Jabil Inc. (NYSE:JBL)

State Street Corp decreased its holdings in shares of Jabil Inc. (NYSE:JBL) by 7.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,158,836 shares of the technology company’s stock after selling 392,835 shares during the quarter. State Street Corp owned about 4.57% of Jabil worth $618,188,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Cetera Investment Advisers grew its holdings in shares of Jabil by 141.7% in the first quarter. Cetera Investment Advisers now owns 17,350 shares of the technology company’s stock valued at $2,324,000 after purchasing an additional 10,173 shares during the period. CWM LLC grew its holdings in shares of Jabil by 104.9% in the second quarter. CWM LLC now owns 5,591 shares of the technology company’s stock valued at $608,000 after purchasing an additional 2,863 shares during the period. Simplicity Wealth LLC grew its holdings in shares of Jabil by 15.7% in the second quarter. Simplicity Wealth LLC now owns 2,365 shares of the technology company’s stock valued at $257,000 after purchasing an additional 321 shares during the period. SG Americas Securities LLC grew its holdings in shares of Jabil by 89.2% in the second quarter. SG Americas Securities LLC now owns 39,627 shares of the technology company’s stock valued at $4,311,000 after purchasing an additional 18,687 shares during the period. Finally, Gateway Investment Advisers LLC purchased a new stake in shares of Jabil in the second quarter valued at about $330,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Analyst Upgrades and Downgrades

JBL has been the subject of a number of analyst reports. Bank of America upped their price objective on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 27th. JPMorgan Chase & Co. decreased their target price on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. StockNews.com raised shares of Jabil from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. Stifel Nicolaus upped their target price on shares of Jabil from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Barclays upped their target price on shares of Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $145.17.

Insider Activity at Jabil

In related news, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $124.70, for a total value of $2,494,000.00. Following the sale, the director now owns 139,108 shares of the company’s stock, valued at $17,346,767.60. This trade represents a 12.57 % decrease in their ownership of the stock. 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 4,000 shares of the firm’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 completion of the sale, the executive vice president now directly owns 108,753 shares in the company, valued at approximately $12,908,981.10. This trade represents a 3.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,689 shares of company stock valued at $5,377,431 over the last 90 days. 2.62% of the stock is owned by corporate insiders.

Jabil Stock Down 0.1 %

Shares of JBL opened at $135.64 on Monday. The stock has a market capitalization of $15.31 billion, a PE ratio of 12.31, a P/E/G ratio of 1.61 and a beta of 1.25. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.72 and a current ratio of 1.09. The company’s 50-day simple moving average is $128.11 and its 200-day simple moving average is $117.03.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.08. The business had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.59 billion. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The business’s quarterly revenue was down 17.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.34 earnings per share. Analysts forecast that Jabil Inc. will post 7.84 earnings per share for the current fiscal year.

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.32 annualized dividend and a yield of 0.24%. Jabil’s dividend payout ratio (DPR) is 2.90%.

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).