Elo Mutual Pension Insurance Co Lowers Stock Position in Jabil Inc. (NYSE:JBL)

Elo Mutual Pension Insurance Co reduced its stake in shares of Jabil Inc. (NYSE:JBL) by 4.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,092 shares of the technology company’s stock after selling 562 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Jabil were worth $1,207,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Czech National Bank increased its stake in shares of Jabil by 0.3% during the first quarter. Czech National Bank now owns 22,439 shares of the technology company’s stock valued at $3,006,000 after buying an additional 73 shares during the period. Beacon Pointe Advisors LLC increased its position in Jabil by 2.5% during the 4th quarter. Beacon Pointe Advisors LLC now owns 3,377 shares of the technology company’s stock valued at $430,000 after purchasing an additional 83 shares during the period. GAMMA Investing LLC raised its holdings in shares of Jabil by 15.3% in the 2nd quarter. GAMMA Investing LLC now owns 797 shares of the technology company’s stock valued at $87,000 after purchasing an additional 106 shares in the last quarter. M&R Capital Management Inc. lifted its position in shares of Jabil by 8.4% in the 2nd quarter. M&R Capital Management Inc. now owns 1,380 shares of the technology company’s stock worth $150,000 after purchasing an additional 107 shares during the period. Finally, Gulf International Bank UK Ltd boosted its stake in shares of Jabil by 1.0% during the first quarter. Gulf International Bank UK Ltd now owns 10,743 shares of the technology company’s stock valued at $1,439,000 after purchasing an additional 110 shares in the last quarter. 93.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on JBL. Bank of America lowered their target price on Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a report on Friday, June 21st. Stifel Nicolaus dropped their price objective on Jabil from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. cut their target price on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. UBS Group decreased 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. Finally, Barclays cut their price objective on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.88.

Jabil Stock Up 2.8 %

Shares of JBL stock opened at $113.96 on Friday. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $156.94. The stock’s fifty day moving average price is $107.10 and its 200 day moving average price is $118.14. 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 company has a market cap of $12.93 billion, a price-to-earnings ratio of 10.37, a price-to-earnings-growth ratio of 1.75 and a beta of 1.25.

Jabil (NYSE:JBL) last announced its earnings results on Thursday, June 20th. The technology company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.53 billion. During the same period in the previous year, the business earned $1.85 EPS. The firm’s revenue for the quarter was down 20.2% on a year-over-year basis. On average, research analysts expect that Jabil Inc. will post 7.86 earnings per share for the current fiscal year.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.32 annualized dividend and a yield of 0.28%. Jabil’s dividend payout ratio (DPR) is 2.91%.

Insider Buying and Selling

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

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).