1832 Asset Management L.P. Sells 4,742 Shares of Jabil Inc. (NYSE:JBL)

1832 Asset Management L.P. decreased its holdings in shares of Jabil Inc. (NYSE:JBL) by 28.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,742 shares of the technology company’s stock after selling 4,742 shares during the quarter. 1832 Asset Management L.P.’s holdings in Jabil were worth $1,573,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Jabil by 10.5% in the 4th quarter. Vanguard Group Inc. now owns 15,070,238 shares of the technology company’s stock valued at $1,919,948,000 after acquiring an additional 1,427,429 shares during the last quarter. Norges Bank bought a new stake in shares of Jabil in the 4th quarter valued at approximately $192,964,000. Artisan Partners Limited Partnership boosted its holdings in shares of Jabil by 36.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,339,559 shares of the technology company’s stock worth $170,660,000 after purchasing an additional 359,818 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Jabil by 29.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,111,281 shares of the technology company’s stock valued at $141,577,000 after purchasing an additional 249,889 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in Jabil by 2.6% during the 4th quarter. California Public Employees Retirement System now owns 784,669 shares of the technology company’s stock valued at $99,967,000 after buying an additional 19,611 shares during the period. Institutional investors own 93.39% of the company’s stock.

Insider Transactions at Jabil

In other news, EVP Frederic E. Mccoy sold 1,250 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $116.42, for a total value of $145,525.00. Following the sale, the executive vice president now directly owns 112,753 shares of the company’s stock, valued at approximately $13,126,704.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Jabil news, SVP May Yee Yap sold 4,274 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 24,829 shares in the company, valued at approximately $2,905,986.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Frederic E. Mccoy sold 1,250 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $116.42, for a total transaction of $145,525.00. Following the sale, the executive vice president now owns 112,753 shares in the company, valued at approximately $13,126,704.26. The disclosure for this sale can be found here. Insiders own 2.62% of the company’s stock.

Jabil Stock Up 0.0 %

Shares of JBL traded up $0.03 during midday trading on Friday, reaching $110.38. 1,210,941 shares of the stock were exchanged, compared to its average volume of 1,496,130. The company has a market capitalization of $12.52 billion, a P/E ratio of 10.04, a PEG ratio of 1.97 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 1.26. Jabil Inc. has a 52 week low of $100.18 and a 52 week high of $156.94. The company’s 50 day moving average is $115.12 and its two-hundred day moving average is $125.50.

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

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.29%. Jabil’s dividend payout ratio is presently 2.91%.

Analyst Ratings Changes

Several research firms have commented on JBL. UBS Group dropped their price objective on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, June 21st. JPMorgan Chase & Co. cut their price target on shares of Jabil from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, June 17th. Bank of America decreased their price objective on shares of Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Friday, June 21st. StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Finally, Barclays dropped their price objective on Jabil from $149.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $142.63.

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).