Los Angeles Capital Management LLC Sells 60,796 Shares of Jabil Inc. (NYSE:JBL)

Los Angeles Capital Management LLC decreased its position in Jabil Inc. (NYSE:JBL) by 86.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,175 shares of the technology company’s stock after selling 60,796 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Jabil were worth $1,169,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of JBL. Alaska Permanent Fund Corp bought a new position in Jabil in the 4th quarter worth $29,000. CVA Family Office LLC acquired a new stake in shares of Jabil in the fourth quarter valued at about $36,000. Valley National Advisers Inc. bought a new position in shares of Jabil in the fourth quarter worth about $36,000. Hanseatic Management Services Inc. acquired a new position in shares of Jabil during the 3rd quarter worth about $48,000. Finally, Allworth Financial LP boosted its stake in Jabil by 745.8% during the 4th quarter. Allworth Financial LP now owns 406 shares of the technology company’s stock valued at $52,000 after purchasing an additional 358 shares during the period. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Jabil

In related news, Chairman Mark T. Mondello sold 50,000 shares of Jabil stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $126.09, for a total value of $6,304,500.00. Following the completion of the sale, the chairman now directly owns 1,809,194 shares in the company, valued at $228,121,271.46. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Chairman Mark T. Mondello sold 50,000 shares of Jabil stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $126.09, for a total transaction of $6,304,500.00. Following the completion of the sale, the chairman now directly owns 1,809,194 shares of the company’s stock, valued at $228,121,271.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP May Yee Yap sold 7,877 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $139.65, for a total transaction of $1,100,023.05. Following the completion of the sale, the senior vice president now owns 29,006 shares in the company, valued at $4,050,687.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,877 shares of company stock worth $9,824,383. Corporate insiders own 2.62% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on JBL. The Goldman Sachs Group lifted their price target on Jabil from $141.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Barclays cut their target price on shares of Jabil from $151.00 to $149.00 and set an “overweight” rating for the company in a research note on Monday, March 18th. StockNews.com raised shares of Jabil from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Finally, Argus cut shares of Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Jabil presently has an average rating of “Buy” and a consensus target price of $144.50.

Jabil Stock Performance

NYSE:JBL opened at $117.53 on Thursday. The stock has a market capitalization of $14.17 billion, a P/E ratio of 10.09, a price-to-earnings-growth ratio of 1.25 and a beta of 1.42. The company has a current ratio of 1.17, a quick ratio of 0.72 and a debt-to-equity ratio of 1.08. Jabil Inc. has a 1 year low of $77.43 and a 1 year high of $156.94. The firm has a 50 day moving average of $132.38 and a 200-day moving average of $129.74.

Jabil (NYSE:JBL) last released its quarterly earnings results on Friday, March 15th. The technology company reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.01). The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.91 billion. Jabil had a net margin of 4.70% and a return on equity of 39.47%. As a group, sell-side analysts anticipate that Jabil Inc. will post 7.83 EPS for the current fiscal year.

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.27%. The ex-dividend date is Tuesday, May 14th. Jabil’s payout ratio is presently 2.75%.

About Jabil

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).