New York State Teachers Retirement System Lowers Position in Jabil Inc. (NYSE:JBL)

New York State Teachers Retirement System cut its stake in shares of Jabil Inc. (NYSE:JBL) by 8.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 122,555 shares of the technology company’s stock after selling 10,587 shares during the quarter. New York State Teachers Retirement System’s holdings in Jabil were worth $17,636,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of JBL. Exchange Traded Concepts LLC purchased a new position in Jabil during the third quarter valued at $471,000. Creative Planning lifted its position in Jabil by 33.0% during the third quarter. Creative Planning now owns 46,548 shares of the technology company’s stock valued at $5,578,000 after purchasing an additional 11,538 shares in the last quarter. Vontobel Holding Ltd. lifted its position in Jabil by 2.2% during the third quarter. Vontobel Holding Ltd. now owns 5,895 shares of the technology company’s stock valued at $706,000 after purchasing an additional 126 shares in the last quarter. Bleakley Financial Group LLC lifted its position in Jabil by 35.4% during the third quarter. Bleakley Financial Group LLC now owns 3,203 shares of the technology company’s stock valued at $384,000 after purchasing an additional 838 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted its position in Jabil by 31.9% during the third quarter. V Square Quantitative Management LLC now owns 2,112 shares of the technology company’s stock valued at $253,000 after purchasing an additional 511 shares in the last quarter. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on JBL. Barclays boosted their price objective on Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. The Goldman Sachs Group boosted their price objective on Jabil from $136.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Stifel Nicolaus restated a “buy” rating and issued a $160.00 price objective (up from $150.00) on shares of Jabil in a research report on Thursday, December 19th. StockNews.com downgraded Jabil from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Finally, UBS Group boosted their price objective on Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $153.17.

Insiders Place Their Bets

In other news, Director Steven A. Raymund sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $151.30, for a total transaction of $3,026,000.00. Following the transaction, the director now owns 119,108 shares of the company’s stock, valued at approximately $18,021,040.40. This represents a 14.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Christopher S. Holland sold 3,400 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $162.27, for a total value of $551,718.00. Following the transaction, the director now directly owns 12,900 shares in the company, valued at approximately $2,093,283. This represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 77,400 shares of company stock valued at $12,804,458 over the last ninety days. 1.73% of the stock is owned by insiders.

Jabil Trading Up 0.6 %

Shares of JBL stock opened at $169.60 on Monday. Jabil Inc. has a 12-month low of $95.85 and a 12-month high of $174.80. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. The stock’s 50-day moving average price is $153.88 and its 200-day moving average price is $130.85. The stock has a market capitalization of $18.52 billion, a price-to-earnings ratio of 16.26, a price-to-earnings-growth ratio of 1.64 and a beta of 1.23.

Jabil (NYSE:JBL) last issued its quarterly earnings data on Wednesday, December 18th. The technology company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.12. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The company had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $6.61 billion. During the same period in the previous year, the firm posted $2.60 earnings per share. The firm’s revenue for the quarter was down 16.6% on a year-over-year basis. Equities research analysts predict that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.08 per share. The ex-dividend date is Tuesday, February 18th. This represents a $0.32 annualized dividend and a yield of 0.19%. Jabil’s payout ratio is currently 3.07%.

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).