Jabil Inc. (NYSE:JBL) Stock Position Decreased by Assetmark Inc.

Assetmark Inc. lowered its holdings in Jabil Inc. (NYSE:JBL) by 98.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 375 shares of the technology company’s stock after selling 24,024 shares during the period. Assetmark Inc.’s holdings in Jabil were worth $45,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new position in Jabil during the 2nd quarter valued at approximately $78,660,000. AQR Capital Management LLC grew its position in shares of Jabil by 195.8% during the second quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock worth $115,404,000 after acquiring an additional 702,199 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Jabil by 29.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock worth $150,463,000 after acquiring an additional 310,590 shares during the period. Victory Capital Management Inc. lifted its position in Jabil by 72.0% in the 2nd quarter. Victory Capital Management Inc. now owns 490,499 shares of the technology company’s stock valued at $53,361,000 after purchasing an additional 205,331 shares during the last quarter. Finally, Railway Pension Investments Ltd acquired a new position in Jabil during the 2nd quarter valued at about $17,200,000. 93.39% of the stock is owned by institutional investors.

Jabil Price Performance

Shares of Jabil stock opened at $128.29 on Tuesday. Jabil Inc. has a 52 week low of $95.85 and a 52 week high of $156.94. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66. The stock has a market cap of $14.48 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 1.51 and a beta of 1.24. The company’s 50-day moving average price is $121.77 and its two-hundred day moving average price is $115.49.

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

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.25%. The ex-dividend date is Friday, November 15th. Jabil’s dividend payout ratio (DPR) is currently 2.90%.

Insider Activity

In other Jabil news, EVP Matthew Crowley sold 1,380 shares of Jabil stock in a transaction on Friday, October 18th. The shares were sold at an average price of $125.83, for a total transaction of $173,645.40. Following the completion of the sale, the executive vice president now owns 18,568 shares of the company’s stock, valued at $2,336,411.44. This trade represents a 6.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Steven A. Raymund sold 20,000 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $124.70, for a total transaction of $2,494,000.00. Following the completion of the transaction, the director now directly owns 139,108 shares in the company, valued at $17,346,767.60. This trade represents a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,689 shares of company stock worth $5,377,431 over the last 90 days. 2.62% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on JBL. Bank of America lifted their price target on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 27th. Stifel Nicolaus upped their price objective on shares of Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, September 27th. JPMorgan Chase & Co. decreased their target price on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Finally, Barclays upped their price target on shares of Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $143.50.

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).