Jabil Inc. (NYSE:JBL) Stake Cut by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. cut its position in shares of Jabil Inc. (NYSE:JBL) by 0.4% in the third quarter, Holdings Channel reports. The firm owned 195,201 shares of the technology company’s stock after selling 701 shares during the period. Jabil accounts for 1.7% of Valley Wealth Managers Inc.’s investment portfolio, making the stock its 13th largest holding. Valley Wealth Managers Inc.’s holdings in Jabil were worth $23,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in JBL. Primecap Management Co. CA grew its holdings in Jabil by 3.0% in the 2nd quarter. Primecap Management Co. CA now owns 3,682,875 shares of the technology company’s stock valued at $400,660,000 after buying an additional 107,800 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Jabil by 7.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,636,737 shares of the technology company’s stock valued at $178,058,000 after buying an additional 106,808 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Jabil by 29.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock valued at $150,463,000 after buying an additional 310,590 shares in the last quarter. AQR Capital Management LLC raised its position in Jabil by 195.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock valued at $115,404,000 after purchasing an additional 702,199 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Jabil in the 2nd quarter valued at $78,660,000. 93.39% of the stock is owned by institutional investors.

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 shares were sold at an average price of $124.70, for a total transaction of $2,494,000.00. Following the sale, the director now directly owns 139,108 shares in the company, valued at $17,346,767.60. This represents a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Francis Mckay sold 11,755 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the completion of the transaction, the senior vice president now owns 41,507 shares in the company, valued at $5,051,816.97. This represents a 22.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,689 shares of company stock worth $5,377,431. Corporate insiders own 2.62% of the company’s stock.

Jabil Stock Down 0.2 %

Shares of NYSE JBL traded down $0.22 on Friday, reaching $128.82. 120,558 shares of the company’s stock traded hands, compared to its average volume of 1,445,163. The business’s 50 day simple moving average is $120.72 and its two-hundred day simple moving average is $115.34. Jabil Inc. has a 12 month low of $95.85 and a 12 month high of $156.94. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. The company has a market cap of $14.54 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the company posted $2.34 earnings per share. The company’s revenue for the quarter was down 17.7% compared to the same quarter last year. As a group, equities research analysts forecast that Jabil Inc. will post 7.84 EPS for the current fiscal year.

Jabil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date is Friday, November 15th. Jabil’s dividend payout ratio is currently 2.90%.

Analysts Set New Price Targets

A number of brokerages recently commented on JBL. Bank of America lifted their price objective on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Barclays raised their target price on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a report on Friday, September 27th. JPMorgan Chase & Co. lowered their target price on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Finally, Stifel Nicolaus lifted their price objective on Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $143.50.

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).