Cetera Investment Advisers Reduces Stake in Jabil Inc. (NYSE:JBL)

Cetera Investment Advisers reduced its holdings in Jabil Inc. (NYSE:JBL) by 46.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,313 shares of the technology company’s stock after selling 8,037 shares during the quarter. Cetera Investment Advisers’ holdings in Jabil were worth $1,013,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Benjamin Edwards Inc. purchased a new stake in Jabil during the 1st quarter valued at about $25,000. HHM Wealth Advisors LLC purchased a new position in shares of Jabil in the 2nd quarter valued at approximately $28,000. ORG Partners LLC purchased a new position in shares of Jabil in the 1st quarter valued at approximately $29,000. Innealta Capital LLC purchased a new position in shares of Jabil in the 2nd quarter valued at approximately $31,000. Finally, Riverview Trust Co purchased a new position in shares of Jabil in the 1st quarter valued at approximately $33,000. 93.39% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Frederic E. Mccoy sold 4,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $118.70, for a total value of $474,800.00. Following the transaction, the executive vice president now directly owns 108,753 shares in the company, valued at $12,908,981.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.62% of the company’s stock.

Jabil Price Performance

NYSE JBL opened at $125.86 on Friday. The company has a market capitalization of $14.28 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.72 and a current ratio of 1.09. The business’s fifty day moving average is $111.82 and its 200 day moving average is $115.62. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $156.94.

Jabil (NYSE:JBL) last released its earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.08. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.59 billion. During the same period in the previous year, the business earned $2.34 earnings per share. Jabil’s quarterly revenue was down 17.7% compared to the same quarter last year. Sell-side analysts predict that Jabil Inc. will post 7.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on JBL shares. Barclays lifted their target price on Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. UBS Group reduced their target price on Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, June 21st. Bank of America lifted 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. reduced their target price on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a 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 report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Jabil has a consensus rating of “Moderate Buy” and an average target price of $143.50.

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).