Wellington Management Group LLP Reduces Position in Jabil Inc. (NYSE:JBL)

Wellington Management Group LLP lessened its holdings in shares of Jabil Inc. (NYSE:JBL) by 42.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,126,243 shares of the technology company’s stock after selling 2,266,112 shares during the period. Wellington Management Group LLP owned 2.45% of Jabil worth $398,283,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Creekmur Asset Management LLC acquired a new position in Jabil in the 4th quarter valued at about $674,000. V Square Quantitative Management LLC acquired a new position in shares of Jabil in the 4th quarter worth approximately $213,000. Grayhawk Investment Strategies Inc. acquired a new position in shares of Jabil in the 4th quarter worth approximately $1,056,000. Gotham Asset Management LLC lifted its holdings in shares of Jabil by 158.9% in the 4th quarter. Gotham Asset Management LLC now owns 94,694 shares of the technology company’s stock worth $12,064,000 after acquiring an additional 58,122 shares during the last quarter. Finally, Credit Capital Investments LLC acquired a new position in shares of Jabil in the 4th quarter worth approximately $255,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on JBL. StockNews.com upgraded shares of Jabil from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Argus lowered shares of Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. The Goldman Sachs Group increased their target price on shares of Jabil from $141.00 to $161.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Barclays reduced their target price on shares of Jabil from $151.00 to $149.00 and set an “overweight” rating on the stock in a report on Monday, March 18th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Jabil from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $147.14.

Jabil Trading Up 4.2 %

Shares of NYSE:JBL opened at $124.48 on Tuesday. Jabil Inc. has a 52 week low of $100.18 and a 52 week high of $156.94. The company’s 50 day moving average is $120.79 and its two-hundred day moving average is $127.97. The company has a current ratio of 1.17, a quick ratio of 0.72 and a debt-to-equity ratio of 1.08. The company has a market cap of $15.01 billion, a PE ratio of 10.68, a P/E/G ratio of 1.50 and a beta of 1.35.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Friday, March 15th. The technology company reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.01). Jabil had a net margin of 4.70% and a return on equity of 39.47%. The firm had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.91 billion. Equities analysts predict that Jabil Inc. will post 7.74 earnings per share for the current fiscal year.

Jabil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 15th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date was Tuesday, May 14th. Jabil’s dividend payout ratio is presently 2.75%.

Insider Activity at Jabil

In related news, SVP May Yee Yap sold 7,877 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $139.65, for a total value of $1,100,023.05. Following the transaction, the senior vice president now directly owns 29,006 shares of the company’s stock, valued at approximately $4,050,687.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP May Yee Yap sold 7,877 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $139.65, for a total value of $1,100,023.05. Following the transaction, the senior vice president now directly owns 29,006 shares of the company’s stock, valued at approximately $4,050,687.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kenneth S. Wilson sold 15,000 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $134.20, for a total transaction of $2,013,000.00. Following the completion of the transaction, the chief executive officer now directly owns 339,725 shares in the company, valued at $45,591,095. The disclosure for this sale can be found here. Insiders have sold 25,877 shares of company stock valued at $3,519,883 in the last ninety days. Insiders own 2.62% of the company’s stock.

Jabil 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).