Kentucky Retirement Systems Sells 598 Shares of Jabil Inc. (NYSE:JBL)

Kentucky Retirement Systems trimmed its position in shares of Jabil Inc. (NYSE:JBL) by 6.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,088 shares of the technology company’s stock after selling 598 shares during the quarter. Kentucky Retirement Systems’ holdings in Jabil were worth $989,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Benjamin Edwards Inc. bought a new stake in shares of Jabil in the 1st quarter worth approximately $25,000. ORG Partners LLC bought a new stake in shares of Jabil in the 1st quarter worth approximately $29,000. Riverview Trust Co bought a new stake in shares of Jabil in the 1st quarter worth approximately $33,000. HHM Wealth Advisors LLC bought a new stake in shares of Jabil in the 2nd quarter worth approximately $28,000. Finally, Innealta Capital LLC bought a new stake in shares of Jabil in the 2nd quarter worth approximately $31,000. 93.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Bank of America dropped their price target on Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a research report on Friday, June 21st. Stifel Nicolaus decreased their price objective on shares of Jabil from $135.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. UBS Group decreased their price objective on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, June 21st. Barclays decreased their price objective on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Jabil presently has an average rating of “Moderate Buy” and an average price target of $139.88.

Jabil Price Performance

Shares of JBL opened at $113.96 on Friday. The firm has a market cap of $12.93 billion, a PE ratio of 10.37, a P/E/G ratio of 1.75 and a beta of 1.25. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 1.26. The firm has a fifty day simple moving average of $107.08 and a two-hundred day simple moving average of $117.67. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $156.94.

Jabil (NYSE:JBL) last announced its earnings results on Thursday, June 20th. The technology company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.53 billion. Jabil had a net margin of 4.63% and a return on equity of 40.30%. The company’s quarterly revenue was down 20.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.85 EPS. On average, equities analysts anticipate that Jabil Inc. will post 7.86 EPS for the current year.

Jabil Announces Dividend

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

Insider Transactions at Jabil

In other news, SVP May Yee Yap sold 4,274 shares of the company’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP May Yee Yap sold 4,274 shares of the company’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Frederic E. Mccoy sold 1,250 shares of the company’s stock in a transaction 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 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 currently owned by company insiders.

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).