Rockefeller Capital Management L.P. Cuts Stock Holdings in Jabil Inc. (NYSE:JBL)

Rockefeller Capital Management L.P. trimmed its stake in shares of Jabil Inc. (NYSE:JBLGet Rating) by 20.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 37,753 shares of the technology company’s stock after selling 9,636 shares during the period. Rockefeller Capital Management L.P.’s holdings in Jabil were worth $2,178,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. State Street Corp grew its stake in Jabil by 3.0% during the first quarter. State Street Corp now owns 4,454,878 shares of the technology company’s stock valued at $275,000,000 after acquiring an additional 127,736 shares in the last quarter. Primecap Management Co. CA lifted its position in Jabil by 1.0% during the second quarter. Primecap Management Co. CA now owns 3,772,122 shares of the technology company’s stock valued at $193,170,000 after purchasing an additional 36,447 shares during the last quarter. Invesco Ltd. lifted its position in Jabil by 230.6% during the first quarter. Invesco Ltd. now owns 1,863,230 shares of the technology company’s stock valued at $115,018,000 after purchasing an additional 1,299,593 shares during the last quarter. Credit Agricole S A lifted its position in Jabil by 2,786.9% during the second quarter. Credit Agricole S A now owns 1,818,657 shares of the technology company’s stock valued at $93,133,000 after purchasing an additional 1,755,660 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in Jabil by 6.5% during the second quarter. Los Angeles Capital Management LLC now owns 1,801,595 shares of the technology company’s stock valued at $92,260,000 after purchasing an additional 109,399 shares during the last quarter. 88.45% of the stock is owned by hedge funds and other institutional investors.

Jabil Trading Down 0.5 %

JBL stock opened at $80.64 on Wednesday. The company has a market capitalization of $10.75 billion, a PE ratio of 11.70, a P/E/G ratio of 0.85 and a beta of 1.37. Jabil Inc. has a 12 month low of $48.80 and a 12 month high of $81.62. The firm’s 50-day moving average is $71.37 and its 200 day moving average is $64.00. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.02 and a quick ratio of 0.57.

Jabil (NYSE:JBLGet Rating) last posted its quarterly earnings results on Thursday, December 15th. The technology company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.28). The company had revenue of $9.64 billion during the quarter, compared to analysts’ expectations of $9.28 billion. Jabil had a return on equity of 40.43% and a net margin of 2.83%. On average, research analysts anticipate that Jabil Inc. will post 7.81 EPS for the current year.

Jabil declared that its board has approved a share repurchase plan on Tuesday, September 27th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the technology company to buy up to 12.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have commented on JBL shares. Credit Suisse Group increased their price objective on shares of Jabil from $81.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, January 18th. Citigroup raised their target price on shares of Jabil from $80.00 to $85.00 in a report on Friday, December 16th. StockNews.com assumed coverage on shares of Jabil in a report on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Raymond James lowered their target price on shares of Jabil from $80.00 to $72.00 in a report on Wednesday, September 28th. Finally, UBS Group assumed coverage on shares of Jabil in a report on Tuesday, December 13th. They issued a “neutral” rating and a $76.00 target price for the company. One analyst has rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $78.40.

Insider Buying and Selling

In related news, CFO Michael Dastoor sold 10,902 shares of the firm’s stock in a transaction dated Tuesday, January 24th. The shares were sold at an average price of $81.05, for a total value of $883,607.10. Following the transaction, the chief financial officer now owns 176,607 shares of the company’s stock, valued at approximately $14,313,997.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Michael Dastoor sold 10,902 shares of the firm’s stock in a transaction dated Tuesday, January 24th. The shares were sold at an average price of $81.05, for a total value of $883,607.10. Following the transaction, the chief financial officer now owns 176,607 shares of the company’s stock, valued at approximately $14,313,997.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Daryn G. Smith sold 17,618 shares of the firm’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $65.96, for a total transaction of $1,162,083.28. Following the transaction, the senior vice president now directly owns 60,819 shares in the company, valued at approximately $4,011,621.24. The disclosure for this sale can be found here. Insiders have sold 231,961 shares of company stock valued at $17,077,557 in the last 90 days. Company insiders own 2.75% of the company’s stock.

About Jabil

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Jabil, Inc engages in the provision of electronic manufacturing services and solutions. It offers electronics design, production, product management, and repair services to companies in the automotive and transportation, capital equipment, consumer lifestyles and wearable technologies, computing and storage, defense and aerospace, digital home, healthcare, industrial and energy, mobility, networking and telecommunications, packaging, point of sale, and printing industries.

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Institutional Ownership by Quarter for Jabil (NYSE:JBL)

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