State of New Jersey Common Pension Fund D Decreases Holdings in Jabil Inc. (NYSE:JBL)

State of New Jersey Common Pension Fund D decreased its stake in shares of Jabil Inc. (NYSE:JBL) by 39.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,100 shares of the technology company’s stock after selling 28,554 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Jabil were worth $4,798,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Czech National Bank grew its position in Jabil by 0.3% during the first quarter. Czech National Bank now owns 22,439 shares of the technology company’s stock valued at $3,006,000 after buying an additional 73 shares during the period. Beacon Pointe Advisors LLC lifted its holdings in Jabil by 2.5% during the fourth quarter. Beacon Pointe Advisors LLC now owns 3,377 shares of the technology company’s stock valued at $430,000 after purchasing an additional 83 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Jabil by 15.3% during the second quarter. GAMMA Investing LLC now owns 797 shares of the technology company’s stock valued at $87,000 after purchasing an additional 106 shares in the last quarter. M&R Capital Management Inc. lifted its holdings in Jabil by 8.4% during the second quarter. M&R Capital Management Inc. now owns 1,380 shares of the technology company’s stock valued at $150,000 after purchasing an additional 107 shares in the last quarter. Finally, Gulf International Bank UK Ltd lifted its holdings in Jabil by 1.0% during the first quarter. Gulf International Bank UK Ltd now owns 10,743 shares of the technology company’s stock valued at $1,439,000 after purchasing an additional 110 shares in the last quarter. Institutional investors and hedge funds own 93.39% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Frederic E. Mccoy sold 1,250 shares of Jabil stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $116.42, for a total transaction of $145,525.00. Following the completion of the sale, the executive vice president now directly owns 112,753 shares in the company, valued at approximately $13,126,704.26. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Frederic E. Mccoy sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $116.42, for a total value of $145,525.00. Following the completion of the sale, the executive vice president now directly owns 112,753 shares in the company, valued at approximately $13,126,704.26. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP May Yee Yap sold 4,274 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total value of $500,228.96. Following the completion of the transaction, the senior vice president now owns 24,829 shares of the company’s stock, valued at $2,905,986.16. The disclosure for this sale can be found here. Corporate insiders own 2.62% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on JBL shares. JPMorgan Chase & Co. decreased their price objective on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. UBS Group dropped their price target on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, June 21st. Barclays dropped their price target on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. Finally, Bank of America dropped their price target on shares of Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a research report on Friday, June 21st. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $141.13.

Jabil Stock Down 0.2 %

Shares of NYSE:JBL opened at $105.72 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 1.26. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $156.94. The company has a 50 day moving average of $107.35 and a two-hundred day moving average of $118.55. The company has a market capitalization of $11.99 billion, a price-to-earnings ratio of 9.62, a price-to-earnings-growth ratio of 1.75 and a beta of 1.25.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Thursday, June 20th. The technology company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The firm had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.53 billion. During the same period last year, the business posted $1.85 earnings per share. The firm’s revenue for the quarter was down 20.2% on a year-over-year basis. As a group, analysts forecast that Jabil Inc. will post 7.86 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.30%. Jabil’s payout ratio is presently 2.91%.

Jabil Company 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).