Elo Mutual Pension Insurance Co Reduces Stock Holdings in Jabil Inc. (NYSE:JBL)

Elo Mutual Pension Insurance Co decreased its holdings in Jabil Inc. (NYSE:JBL) by 4.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,092 shares of the technology company’s stock after selling 562 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Jabil were worth $1,207,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Jabil by 10.5% during the fourth quarter. Vanguard Group Inc. now owns 15,070,238 shares of the technology company’s stock valued at $1,919,948,000 after buying an additional 1,427,429 shares during the period. Primecap Management Co. CA lifted its position in Jabil by 3.0% during the second 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 period. Dimensional Fund Advisors LP lifted its position in Jabil by 7.0% during the second 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 during the period. Bank of New York Mellon Corp lifted its position in Jabil by 29.0% during the second 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 during the period. Finally, Artisan Partners Limited Partnership lifted its position in Jabil by 36.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,339,559 shares of the technology company’s stock valued at $170,660,000 after buying an additional 359,818 shares during the period. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on JBL. UBS Group lowered their price objective on Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, June 21st. Bank of America lowered their price objective on Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a research report on Friday, June 21st. JPMorgan Chase & Co. lowered their price objective on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Stifel Nicolaus reduced their price target on Jabil from $135.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Barclays reduced their price target on Jabil from $149.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Jabil currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.88.

Insider Buying and Selling

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

Jabil Price Performance

NYSE JBL opened at $113.96 on Friday. Jabil Inc. has a one year low of $95.85 and a one year high of $156.94. The stock has a 50-day moving average of $107.10 and a 200 day moving average of $118.14. The company has a market capitalization of $12.93 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 1.75 and a beta of 1.25. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 1.13.

Jabil (NYSE:JBL) last released its quarterly earnings data on Thursday, June 20th. The technology company reported $1.89 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 company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.53 billion. During the same period last year, the company earned $1.85 EPS. Jabil’s revenue for the quarter was down 20.2% on a year-over-year basis. On average, sell-side analysts forecast that Jabil Inc. will post 7.86 EPS for the current year.

Jabil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were issued a $0.08 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.32 annualized dividend and a yield of 0.28%. Jabil’s payout ratio is 2.91%.

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).