Amalgamated Bank Decreases Stock Holdings in Jabil Inc. (NYSE:JBL)

Amalgamated Bank lowered its stake in shares of Jabil Inc. (NYSE:JBL) by 13.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 38,407 shares of the technology company’s stock after selling 6,160 shares during the quarter. Amalgamated Bank’s holdings in Jabil were worth $4,178,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Czech National Bank increased its position in shares of Jabil by 0.3% during the 1st quarter. Czech National Bank now owns 22,439 shares of the technology company’s stock valued at $3,006,000 after purchasing an additional 73 shares during the last quarter. Beacon Pointe Advisors LLC grew its position in Jabil by 2.5% in the 4th quarter. Beacon Pointe Advisors LLC now owns 3,377 shares of the technology company’s stock valued at $430,000 after acquiring an additional 83 shares during the last quarter. GAMMA Investing LLC grew its position in 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 acquiring an additional 106 shares during the last quarter. M&R Capital Management Inc. grew its position in Jabil by 8.4% in the 2nd quarter. M&R Capital Management Inc. now owns 1,380 shares of the technology company’s stock valued at $150,000 after acquiring an additional 107 shares during the last quarter. Finally, Gulf International Bank UK Ltd grew its position in Jabil by 1.0% in the 1st quarter. Gulf International Bank UK Ltd now owns 10,743 shares of the technology company’s stock valued at $1,439,000 after acquiring an additional 110 shares during the last quarter. Institutional investors own 93.39% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Bank of America cut their price objective on Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a research report on Friday, June 21st. JPMorgan Chase & Co. cut their price objective on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. UBS Group cut their price objective on Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, June 21st. Stifel Nicolaus dropped their price target on Jabil from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Finally, Barclays dropped their price target on Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Two equities research 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $139.88.

Insider Buying and Selling

In related news, EVP Frederic E. Mccoy sold 1,250 shares of the company’s stock in a transaction on 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 directly owns 112,753 shares in the company, valued at approximately $13,126,704.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Jabil news, EVP Frederic E. Mccoy sold 1,250 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $116.42, for a total value 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 $13,126,704.26. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP May Yee Yap sold 4,274 shares of the business’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 transaction of $500,228.96. Following the sale, the senior vice president now directly 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 Trading Up 2.8 %

Shares of NYSE JBL opened at $113.96 on Friday. 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 stock has a market capitalization of $12.93 billion, a P/E ratio of 10.37, a price-to-earnings-growth ratio of 1.75 and a beta of 1.25. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $156.94. The business has a fifty day moving average price of $107.08 and a 200 day moving average price of $117.67.

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

Jabil Announces Dividend

The business also recently disclosed 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. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Thursday, August 15th. Jabil’s dividend payout ratio (DPR) is currently 2.91%.

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).