Jabil Inc. (NYSE:JBL) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lowered its position in shares of Jabil Inc. (NYSE:JBL) by 8.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,800 shares of the technology company’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Jabil were worth $740,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Benjamin Edwards Inc. acquired a new position in shares of Jabil in the 1st quarter valued at about $25,000. Activest Wealth Management bought a new position in Jabil during the first quarter valued at about $28,000. ORG Partners LLC bought a new stake in Jabil during the first quarter worth approximately $29,000. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Jabil during the 4th quarter worth $32,000. Finally, Riverview Trust Co acquired a new position in shares of Jabil in the 1st quarter valued at $33,000. Institutional investors own 93.39% of the company’s stock.

Insider Transactions at Jabil

In related news, SVP May Yee Yap sold 4,274 shares of the firm’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 transaction, the senior vice president now directly owns 24,829 shares of the company’s stock, valued at approximately $2,905,986.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 stock was sold at an average price of $116.42, for a total value of $145,525.00. Following the sale, the executive vice president now 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 is accessible through this link. Also, 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 transaction, 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 currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

JBL has been the topic of several recent analyst reports. Barclays cut their target price on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. JPMorgan Chase & Co. reduced their price objective on Jabil from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, June 17th. Bank of America lowered their target price on Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. Finally, UBS Group reduced their price target on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, June 21st. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Jabil has a consensus rating of “Moderate Buy” and an average price target of $142.63.

Jabil Stock Up 0.3 %

JBL opened at $107.64 on Friday. The company has a market capitalization of $12.21 billion, a PE ratio of 9.79, a price-to-earnings-growth ratio of 1.95 and a beta of 1.27. The business has a 50-day moving average of $108.81 and a 200-day moving average of $121.83. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $156.94. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.74.

Jabil (NYSE:JBL) last posted its earnings results on Thursday, June 20th. The technology company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $6.77 billion during 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 revenue for the quarter was down 20.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.85 earnings per share. Equities research analysts forecast that Jabil Inc. will post 7.86 EPS for the current fiscal year.

Jabil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.30%. Jabil’s dividend payout ratio is currently 2.91%.

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).