Sentry Investment Management LLC Sells 118 Shares of Jabil Inc. (NYSE:JBL)

Sentry Investment Management LLC reduced its position in Jabil Inc. (NYSE:JBL) by 16.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 579 shares of the technology company’s stock after selling 118 shares during the quarter. Sentry Investment Management LLC’s holdings in Jabil were worth $63,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Benjamin Edwards Inc. purchased a new stake in Jabil in the first quarter worth approximately $25,000. Activest Wealth Management bought a new stake in shares of Jabil in the 1st quarter worth approximately $28,000. HHM Wealth Advisors LLC purchased a new stake in shares of Jabil in the 2nd quarter valued at $28,000. ORG Partners LLC purchased a new position in Jabil in the 1st quarter worth $29,000. Finally, Innealta Capital LLC bought a new stake in Jabil in the second quarter worth $31,000. 93.39% of the stock is currently owned by institutional investors.

Insider Activity

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

Jabil Stock Performance

NYSE:JBL opened at $105.90 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 1.26. The firm’s fifty day simple moving average is $107.43 and its 200 day simple moving average is $119.15. The stock has a market cap of $12.01 billion, a P/E ratio of 9.64, a price-to-earnings-growth ratio of 1.75 and a beta of 1.25. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $156.94.

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

Jabil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend was Thursday, August 15th. Jabil’s dividend payout ratio is currently 2.91%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Barclays decreased their price objective on Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. Bank of America dropped their price objective on Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Friday, June 21st. JPMorgan Chase & Co. decreased their target price on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Finally, UBS Group lowered their price target on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, June 21st. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $141.13.

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).