Comerica Bank cut its stake in Jabil Inc (NYSE:JBL) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,443 shares of the technology company’s stock after selling 3,609 shares during the period. Comerica Bank owned 0.07% of Jabil worth $4,062,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Greenwich Wealth Management LLC increased its stake in Jabil by 1.3% during the second quarter. Greenwich Wealth Management LLC now owns 28,742 shares of the technology company’s stock valued at $908,000 after purchasing an additional 356 shares during the last quarter. GSA Capital Partners LLP grew its position in shares of Jabil by 0.6% during the second quarter. GSA Capital Partners LLP now owns 64,258 shares of the technology company’s stock worth $2,031,000 after acquiring an additional 388 shares during the last quarter. Squar Milner Financial Services LLC grew its position in shares of Jabil by 11.3% during the third quarter. Squar Milner Financial Services LLC now owns 4,099 shares of the technology company’s stock worth $146,000 after acquiring an additional 415 shares during the last quarter. Advisory Services Network LLC grew its position in shares of Jabil by 57.1% during the second quarter. Advisory Services Network LLC now owns 1,238 shares of the technology company’s stock worth $39,000 after acquiring an additional 450 shares during the last quarter. Finally, Stephens Inc. AR grew its position in shares of Jabil by 7.6% during the second quarter. Stephens Inc. AR now owns 8,187 shares of the technology company’s stock worth $259,000 after acquiring an additional 580 shares during the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.
Shares of JBL opened at $39.26 on Friday. The firm has a 50-day moving average price of $35.84 and a 200 day moving average price of $30.76. The firm has a market capitalization of $5.98 billion, a PE ratio of 21.69, a P/E/G ratio of 1.31 and a beta of 0.97. The company has a quick ratio of 0.62, a current ratio of 0.98 and a debt-to-equity ratio of 1.12. Jabil Inc has a 52-week low of $21.49 and a 52-week high of $39.43.
Jabil (NYSE:JBL) last announced its earnings results on Tuesday, September 24th. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.02. The firm had revenue of $6.57 billion during the quarter, compared to analyst estimates of $6.63 billion. Jabil had a net margin of 1.14% and a return on equity of 15.90%. Jabil’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.70 EPS. On average, equities analysts expect that Jabil Inc will post 2.49 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Thursday, November 14th. Jabil’s payout ratio is 17.68%.
In other Jabil news, SVP Bruce Allan Johnson sold 6,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $35.00, for a total value of $210,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alessandro Parimbelli sold 9,723 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $36.22, for a total transaction of $352,167.06. Following the completion of the sale, the chief executive officer now directly owns 293,073 shares of the company’s stock, valued at $10,615,104.06. The disclosure for this sale can be found here. Insiders sold a total of 220,898 shares of company stock valued at $7,684,410 over the last three months. 2.90% of the stock is owned by corporate insiders.
Several research firms have recently commented on JBL. ValuEngine lowered shares of Jabil from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. increased their target price on shares of Jabil from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Bank of America increased their target price on shares of Jabil from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Citigroup increased their target price on shares of Jabil from $36.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Standpoint Research lowered shares of Jabil from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Jabil presently has a consensus rating of “Hold” and a consensus price target of $34.56.
Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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).
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