Sumitomo Mitsui Trust Group Inc. Sells 7,693 Shares of Jabil Inc. (NYSE:JBL)

Sumitomo Mitsui Trust Group Inc. lowered its position in Jabil Inc. (NYSE:JBL) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 256,441 shares of the technology company’s stock after selling 7,693 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Jabil were worth $36,902,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of JBL. Exchange Traded Concepts LLC bought a new position in shares of Jabil in the third quarter valued at approximately $471,000. Sound Income Strategies LLC increased its holdings in shares of Jabil by 945.7% in the third quarter. Sound Income Strategies LLC now owns 481 shares of the technology company’s stock valued at $58,000 after purchasing an additional 435 shares in the last quarter. Armstrong Advisory Group Inc. increased its holdings in shares of Jabil by 114.0% in the third quarter. Armstrong Advisory Group Inc. now owns 428 shares of the technology company’s stock valued at $51,000 after purchasing an additional 228 shares in the last quarter. Creative Planning increased its holdings in shares of Jabil by 33.0% in 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. Finally, Vontobel Holding Ltd. increased its holdings in shares of Jabil by 2.2% in 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. Institutional investors own 93.39% of the company’s stock.

Analysts Set New Price Targets

JBL has been the subject of a number of research reports. The Goldman Sachs Group raised their price target on shares of Jabil from $136.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Barclays raised their price target on shares of Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Stifel Nicolaus reissued a “buy” rating and issued a $160.00 price target (up previously from $150.00) on shares of Jabil in a report on Thursday, December 19th. UBS Group raised their price target on shares of Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Finally, StockNews.com lowered shares of Jabil from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $153.17.

Insider Activity

In related news, Director Christopher S. Holland sold 3,400 shares of the business’s stock in a transaction 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 sale, the director now directly owns 12,900 shares of the company’s stock, valued at approximately $2,093,283. The trade was a 20.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Frederic E. Mccoy sold 4,000 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $149.81, for a total transaction of $599,240.00. Following the completion of the sale, the executive vice president now directly owns 138,472 shares in the company, valued at $20,744,490.32. This represents a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,400 shares of company stock valued at $12,804,458 in the last quarter. Company insiders own 1.73% of the company’s stock.

Jabil Price Performance

JBL opened at $167.48 on Wednesday. The company has a fifty day moving average price of $151.89 and a two-hundred day moving average price of $129.62. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. Jabil Inc. has a 52 week low of $95.85 and a 52 week high of $174.80. The firm has a market capitalization of $18.29 billion, a PE ratio of 16.06, a P/E/G ratio of 1.64 and a beta of 1.23.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Wednesday, December 18th. The technology company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.12. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company had revenue of $6.99 billion during the quarter, compared to analyst estimates of $6.61 billion. During the same quarter in the previous year, the business earned $2.60 EPS. The firm’s revenue was down 16.6% on a year-over-year basis. As a group, analysts anticipate that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.19%. The ex-dividend date is Tuesday, February 18th. Jabil’s dividend payout ratio (DPR) is 3.07%.

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).