Allspring Global Investments Holdings LLC Sells 30,518 Shares of Jabil Inc. (NYSE:JBL)

Allspring Global Investments Holdings LLC reduced its holdings in shares of Jabil Inc. (NYSE:JBL) by 9.2% during the second quarter, HoldingsChannel reports. The firm owned 300,855 shares of the technology company’s stock after selling 30,518 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Jabil were worth $32,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of JBL. Benjamin Edwards Inc. bought a new stake in shares of Jabil in the first quarter worth $25,000. Activest Wealth Management bought a new position in shares of Jabil in the 1st quarter worth approximately $28,000. ORG Partners LLC bought a new stake in Jabil during the first quarter valued at about $29,000. Pacific Capital Wealth Advisors Inc. bought a new stake in Jabil in the 4th quarter valued at $32,000. Finally, Riverview Trust Co purchased a new position in Jabil during the 1st quarter valued at approximately $33,000. 93.39% of the stock is owned by hedge funds and other institutional investors.

Jabil Price Performance

NYSE JBL opened at $107.60 on Wednesday. Jabil Inc. has a 12-month low of $95.85 and a 12-month high of $156.94. The firm’s fifty day simple moving average is $109.27 and its two-hundred day simple moving average is $122.03. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $12.21 billion, a P/E ratio of 9.79, a P/E/G ratio of 1.95 and a beta of 1.27.

Jabil (NYSE:JBL) last released its quarterly earnings results on Thursday, June 20th. The technology company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.53 billion. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The firm’s revenue was down 20.2% compared to the same quarter last year. During the same period last year, the business posted $1.85 earnings per share. Analysts forecast that Jabil Inc. will post 7.86 EPS for the current fiscal year.

Jabil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Thursday, August 15th. Jabil’s dividend payout ratio (DPR) is presently 2.91%.

Wall Street Analyst Weigh In

A number of research firms recently commented on JBL. UBS Group dropped their price target 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. Bank of America lowered their target price 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. Barclays decreased their price objective on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Finally, JPMorgan Chase & Co. lowered their target price on Jabil from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, June 17th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Jabil presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.63.

Insider Activity at Jabil

In other Jabil news, EVP Frederic E. Mccoy sold 1,250 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $116.42, for a total transaction of $145,525.00. Following the transaction, the executive vice president now owns 112,753 shares in the company, valued at $13,126,704.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Jabil news, EVP Frederic E. Mccoy sold 1,250 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP May Yee Yap sold 4,274 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total value of $500,228.96. Following the completion of the sale, the senior vice president now owns 24,829 shares of the company’s stock, valued at $2,905,986.16. The disclosure for this sale can be found here. 2.62% of the stock is owned by company insiders.

Jabil Company 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).