American International Group Inc. Has $4.46 Million Stock Position in Jabil Inc. (NYSE:JBL)

American International Group Inc. lowered its stake in Jabil Inc. (NYSE:JBL) by 81.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,029 shares of the technology company’s stock after selling 150,057 shares during the quarter. American International Group Inc.’s holdings in Jabil were worth $4,463,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Alaska Permanent Fund Corp bought a new stake in shares of Jabil in the 4th quarter valued at $29,000. Pacific Capital Wealth Advisors Inc. bought a new position in Jabil during the 4th quarter worth about $32,000. CVA Family Office LLC bought a new position in Jabil during the 4th quarter worth about $36,000. Valley National Advisers Inc. bought a new position in Jabil during the 4th quarter worth about $36,000. Finally, Principal Securities Inc. bought a new position in Jabil during the 4th quarter worth about $51,000. Institutional investors and hedge funds own 93.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on JBL. Bank of America reduced their price objective on shares of Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Friday. Barclays cut their target price on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday. Argus downgraded shares of Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. The Goldman Sachs Group raised their target price on shares of Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Finally, StockNews.com upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $142.63.

Jabil Price Performance

JBL stock opened at $113.19 on Friday. The firm has a market cap of $13.65 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 1.40 and a beta of 1.35. The company has a quick ratio of 0.72, a current ratio of 1.13 and a debt-to-equity ratio of 1.26. Jabil Inc. has a 12-month low of $100.18 and a 12-month high of $156.94. The company’s fifty day simple moving average is $119.16 and its 200 day simple moving average is $128.05.

Jabil (NYSE:JBL) last posted its quarterly earnings results on Thursday, June 20th. The technology company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Jabil had a net margin of 4.63% and a return on equity of 40.30%. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.53 billion. During the same period in the previous year, the firm posted $1.85 earnings per share. The business’s revenue was down 20.2% compared to the same quarter last year. On average, analysts expect that Jabil Inc. will post 7.74 earnings per share for the current year.

Jabil Dividend Announcement

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 yield of 0.28%. The ex-dividend date was Tuesday, May 14th. Jabil’s payout ratio is 2.91%.

Insiders Place Their Bets

In other Jabil news, EVP Gerald Creadon sold 3,000 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $135.62, for a total value of $406,860.00. Following the completion of the sale, the executive vice president now directly owns 65,434 shares of the company’s stock, valued at approximately $8,874,159.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Jabil news, EVP Gerald Creadon sold 3,000 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $135.62, for a total value of $406,860.00. Following the completion of the sale, the executive vice president now directly owns 65,434 shares of the company’s stock, valued at approximately $8,874,159.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kenneth S. Wilson sold 15,000 shares of the business’s stock in a transaction dated 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 owns 339,725 shares in the company, valued at $45,591,095. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,877 shares of company stock valued at $3,519,883. Corporate 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).