Mutual of America Capital Management LLC Sells 1,240 Shares of Jabil Inc. (NYSE:JBL)

Mutual of America Capital Management LLC lessened its holdings in Jabil Inc. (NYSE:JBL) by 8.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,969 shares of the technology company’s stock after selling 1,240 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Jabil were worth $1,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in JBL. Empirical Finance LLC grew its position in Jabil by 5.6% during the third quarter. Empirical Finance LLC now owns 5,641 shares of the technology company’s stock valued at $676,000 after buying an additional 297 shares during the period. Empowered Funds LLC boosted its stake in Jabil by 11.8% in the third quarter. Empowered Funds LLC now owns 145,682 shares of the technology company’s stock valued at $17,457,000 after acquiring an additional 15,413 shares during the last quarter. Royce & Associates LP boosted its stake in Jabil by 1.1% in the third quarter. Royce & Associates LP now owns 74,020 shares of the technology company’s stock valued at $8,870,000 after acquiring an additional 786 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Jabil by 2.8% during the 3rd quarter. CIBC Asset Management Inc now owns 16,689 shares of the technology company’s stock valued at $2,000,000 after acquiring an additional 462 shares during the period. Finally, ING Groep NV increased its stake in shares of Jabil by 71.2% during the 3rd quarter. ING Groep NV now owns 80,872 shares of the technology company’s stock worth $9,691,000 after purchasing an additional 33,644 shares during the last quarter. 93.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Bank of America upped their price objective on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Barclays upped their price target on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Stifel Nicolaus increased their price target on Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, JPMorgan Chase & Co. lowered their price objective on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $143.50.

Jabil Stock Performance

NYSE:JBL opened at $134.03 on Tuesday. The business’s fifty day moving average is $124.39 and its 200 day moving average is $115.92. The firm has a market cap of $15.12 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 1.55 and a beta of 1.24. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.72 and a current ratio of 1.09. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $156.94.

Jabil (NYSE:JBL) last announced its quarterly 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 firm had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.59 billion. During the same period in the prior year, the business posted $2.34 earnings per share. The company’s revenue was down 17.7% on a year-over-year basis. Research analysts predict that Jabil Inc. will post 7.84 EPS for the current year.

Jabil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be issued a $0.08 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. Jabil’s payout ratio is currently 2.90%.

Insider Transactions at Jabil

In related news, EVP Frederic E. Mccoy sold 4,283 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $122.28, for a total value of $523,725.24. Following the transaction, the executive vice president now directly owns 142,472 shares in the company, valued at approximately $17,421,476.16. This represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Matthew Crowley sold 1,380 shares of Jabil stock in a transaction that occurred 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 sale, the executive vice president now owns 18,568 shares of the company’s stock, valued at approximately $2,336,411.44. The trade was a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,689 shares of company stock valued at $5,377,431. 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).