Bridgewater Associates LP Sells 24,720 Shares of Jabil Inc. (NYSE:JBL)

Bridgewater Associates LP cut its holdings in Jabil Inc. (NYSE:JBL) by 26.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 69,914 shares of the technology company’s stock after selling 24,720 shares during the period. Bridgewater Associates LP’s holdings in Jabil were worth $8,378,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of JBL. Tidal Investments LLC raised its holdings in Jabil by 39.7% in the 1st quarter. Tidal Investments LLC now owns 14,282 shares of the technology company’s stock valued at $1,913,000 after acquiring an additional 4,056 shares in the last quarter. Comerica Bank raised its stake in shares of Jabil by 68.5% in the first quarter. Comerica Bank now owns 42,709 shares of the technology company’s stock valued at $5,721,000 after purchasing an additional 17,355 shares in the last quarter. iA Global Asset Management Inc. acquired a new position in shares of Jabil in the first quarter valued at $233,000. Swedbank AB acquired a new stake in Jabil during the first quarter worth $5,680,000. Finally, Atria Investments Inc boosted its stake in Jabil by 11.2% during the first quarter. Atria Investments Inc now owns 12,051 shares of the technology company’s stock worth $1,614,000 after buying an additional 1,211 shares in the last quarter. 93.39% of the stock is owned by institutional investors.

Jabil Trading Up 0.5 %

JBL stock opened at $133.33 on Friday. The business has a fifty day moving average price of $125.42 and a 200 day moving average price of $116.15. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $156.94. The stock has a market capitalization of $15.05 billion, a price-to-earnings ratio of 12.10, a P/E/G ratio of 1.58 and a beta of 1.24.

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

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Friday, November 15th. Jabil’s dividend payout ratio (DPR) is 2.90%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on JBL. Barclays raised their price objective on shares of Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. StockNews.com raised Jabil from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Bank of America increased their target price on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 27th. JPMorgan Chase & Co. decreased their price target on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Finally, Stifel Nicolaus increased their price objective on Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $143.50.

Insider Activity

In other Jabil news, Director Steven A. Raymund sold 20,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $124.70, for a total value of $2,494,000.00. Following the completion of the transaction, the director now directly owns 139,108 shares of the company’s stock, valued at approximately $17,346,767.60. The trade was a 12.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Frederic E. Mccoy sold 4,283 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $122.28, for a total value of $523,725.24. Following the sale, the executive vice president now directly owns 142,472 shares in the company, valued at approximately $17,421,476.16. This represents a 2.92 % 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 in the last 90 days. 2.62% of the stock is owned by company insiders.

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).