Jabil Inc. (NYSE:JBL) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its holdings in shares of Jabil Inc. (NYSE:JBL) by 10.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,305 shares of the technology company’s stock after selling 643 shares during the quarter. Intech Investment Management LLC’s holdings in Jabil were worth $636,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Primecap Management Co. CA raised its position in shares of Jabil by 3.0% during the 2nd quarter. Primecap Management Co. CA now owns 3,682,875 shares of the technology company’s stock worth $400,660,000 after purchasing an additional 107,800 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Jabil by 7.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,636,737 shares of the technology company’s stock worth $178,058,000 after acquiring an additional 106,808 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Jabil by 29.0% in the second 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 last quarter. AQR Capital Management LLC boosted its stake 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 valued at $115,404,000 after acquiring an additional 702,199 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Jabil during the 2nd quarter worth about $78,660,000. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Francis Mckay sold 11,755 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $121.71, for a total value of $1,430,701.05. Following the completion of the sale, the senior vice president now owns 41,507 shares in the company, valued at approximately $5,051,816.97. This trade represents a 22.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Matthew Crowley sold 1,380 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $125.83, for a total value of $173,645.40. Following the sale, the executive vice president now owns 18,568 shares in the company, 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. In the last three months, insiders sold 43,689 shares of company stock valued at $5,377,431. Company insiders own 2.62% of the company’s stock.

Jabil Price Performance

JBL stock opened at $135.83 on Friday. The company has a market cap of $15.33 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.57 and a beta of 1.24. 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 50-day moving average price of $126.30 and a two-hundred day moving average price of $116.39. Jabil Inc. has a 12-month low of $95.85 and a 12-month high of $156.94.

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

Jabil Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on JBL shares. StockNews.com upgraded shares of Jabil from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Barclays raised their target price on shares of Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Bank of America boosted 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. JPMorgan Chase & Co. decreased their price objective on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Finally, Stifel Nicolaus upped their target price on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.50.

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).