Jabil Inc. (NYSE:JBL) Shares Sold by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning trimmed its position in shares of Jabil Inc. (NYSE:JBL) by 34.2% during the first quarter, HoldingsChannel reports. The fund owned 2,919 shares of the technology company’s stock after selling 1,516 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Jabil were worth $391,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in JBL. Norges Bank acquired a new position in shares of Jabil during the fourth quarter worth about $192,964,000. Vanguard Group Inc. increased its stake in shares of Jabil by 10.5% during the fourth quarter. Vanguard Group Inc. now owns 15,070,238 shares of the technology company’s stock worth $1,919,948,000 after acquiring an additional 1,427,429 shares during the period. Artisan Partners Limited Partnership increased its stake in shares of Jabil by 36.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,339,559 shares of the technology company’s stock worth $170,660,000 after acquiring an additional 359,818 shares during the period. Ceredex Value Advisors LLC increased its stake in shares of Jabil by 72,212.5% during the fourth quarter. Ceredex Value Advisors LLC now owns 289,250 shares of the technology company’s stock worth $36,850,000 after acquiring an additional 288,850 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Jabil by 29.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,111,281 shares of the technology company’s stock worth $141,577,000 after acquiring an additional 249,889 shares during the period. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on JBL. StockNews.com raised shares of Jabil from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Bank of America decreased their price objective on shares of Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Friday, June 21st. Argus downgraded shares of Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Barclays decreased their price objective on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. Finally, JPMorgan Chase & Co. decreased their price objective 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. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Jabil has an average rating of “Moderate Buy” and an average target price of $142.63.

Jabil Stock Up 1.4 %

Shares of NYSE JBL opened at $110.10 on Thursday. Jabil Inc. has a 12-month low of $100.18 and a 12-month high of $156.94. The company has a market capitalization of $13.28 billion, a PE ratio of 10.02, a price-to-earnings-growth ratio of 1.94 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.74. The firm’s 50-day moving average is $116.76 and its two-hundred day moving average is $127.37.

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

Jabil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Wednesday, May 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Tuesday, May 14th. Jabil’s payout ratio is 2.91%.

Insider Activity at Jabil

In related news, CEO Kenneth S. Wilson sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $134.20, for a total transaction of $2,013,000.00. Following the transaction, the chief executive officer now owns 339,725 shares of the company’s stock, valued at $45,591,095. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Kenneth S. Wilson sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $134.20, for a total transaction of $2,013,000.00. Following the completion of the transaction, the chief executive officer now owns 339,725 shares of the company’s stock, valued at $45,591,095. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP May Yee Yap sold 7,877 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $139.65, for a total transaction of $1,100,023.05. Following the transaction, the senior vice president now directly owns 29,006 shares of the company’s stock, valued at approximately $4,050,687.90. The disclosure for this sale can be found here. Insiders own 2.62% of the company’s stock.

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).