EverSource Wealth Advisors LLC Cuts Position in Jabil Inc. (NYSE:JBL)

EverSource Wealth Advisors LLC decreased its stake in Jabil Inc. (NYSE:JBL) by 9.2% in the 2nd quarter, Holdings Channel reports. The firm owned 7,476 shares of the technology company’s stock after selling 754 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Jabil were worth $842,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. 1832 Asset Management L.P. lifted its position in shares of Jabil by 33.2% during the 2nd quarter. 1832 Asset Management L.P. now owns 15,640 shares of the technology company’s stock valued at $1,701,000 after acquiring an additional 3,898 shares during the period. ProShare Advisors LLC increased its stake in Jabil by 14.9% in the 2nd quarter. ProShare Advisors LLC now owns 25,107 shares of the technology company’s stock valued at $2,731,000 after purchasing an additional 3,259 shares in the last quarter. Symmetry Investments LP purchased a new position in Jabil in the 2nd quarter valued at approximately $625,000. Ensign Peak Advisors Inc raised its holdings in Jabil by 1.2% during the second quarter. Ensign Peak Advisors Inc now owns 57,577 shares of the technology company’s stock worth $6,264,000 after purchasing an additional 705 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Jabil by 35.1% during the second quarter. Thrivent Financial for Lutherans now owns 73,200 shares of the technology company’s stock worth $7,964,000 after purchasing an additional 19,011 shares in the last quarter. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Insider Activity at Jabil

In other Jabil news, SVP May Yee Yap sold 4,274 shares of the firm’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 sale, 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 filing with the SEC, which can be accessed through this link. In other Jabil news, SVP May Yee Yap sold 4,274 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Frederic E. Mccoy sold 1,250 shares of Jabil stock in a transaction 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 owns 112,753 shares in the company, valued at approximately $13,126,704.26. The disclosure for this sale can be found here. Insiders own 2.62% of the company’s stock.

Jabil Stock Down 0.8 %

JBL stock opened at $113.01 on Tuesday. The company has a 50 day moving average price of $107.03 and a two-hundred day moving average price of $117.13. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 1.13. The stock has a market capitalization of $12.82 billion, a P/E ratio of 10.28, a PEG ratio of 1.75 and a beta of 1.25. Jabil Inc. has a one year low of $95.85 and a one year high of $156.94.

Jabil Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Thursday, August 15th. Jabil’s dividend payout ratio is currently 2.91%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on JBL. JPMorgan Chase & Co. cut their price target on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Bank of America reduced their price target 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. UBS Group dropped their price objective on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, June 21st. Stifel Nicolaus reduced their target price on Jabil from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Finally, Barclays dropped their price target on Jabil from $149.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. Two 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, Jabil has a consensus rating of “Moderate Buy” and a consensus price target of $139.88.

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).