Gulf International Bank UK Ltd Decreases Stake in Jabil Inc. (NYSE:JBL)

Gulf International Bank UK Ltd lessened its stake in shares of Jabil Inc. (NYSE:JBL) by 3.6% in the third quarter, HoldingsChannel.com reports. The firm owned 8,303 shares of the technology company’s stock after selling 310 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Jabil were worth $994,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. HHM Wealth Advisors LLC purchased a new stake in shares of Jabil during the second quarter worth about $28,000. Innealta Capital LLC bought a new position in Jabil during the 2nd quarter valued at approximately $31,000. Family Firm Inc. purchased a new stake in Jabil in the 2nd quarter worth approximately $37,000. Matrix Trust Co grew its position in shares of Jabil by 135.4% in the 3rd quarter. Matrix Trust Co now owns 372 shares of the technology company’s stock worth $45,000 after buying an additional 214 shares during the last quarter. Finally, Armstrong Advisory Group Inc. increased its stake in shares of Jabil by 114.0% during the third quarter. Armstrong Advisory Group Inc. now owns 428 shares of the technology company’s stock valued at $51,000 after buying an additional 228 shares during the period. Institutional investors own 93.39% of the company’s stock.

Jabil Stock Down 1.1 %

Shares of Jabil stock opened at $135.75 on Friday. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72. The company has a 50-day moving average of $118.51 and a 200 day moving average of $114.99. The firm has a market cap of $15.32 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.62 and a beta of 1.24.

Jabil (NYSE:JBL) last released its earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.08. The firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.59 billion. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The business’s revenue was down 17.7% on a year-over-year basis. During the same period last year, the business earned $2.34 earnings per share. As a group, sell-side analysts anticipate that Jabil Inc. will post 7.84 earnings per share for the current fiscal year.

Jabil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, November 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. Jabil’s payout ratio is presently 2.90%.

Insider Transactions at Jabil

In related news, EVP Frederic E. Mccoy sold 4,283 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $122.28, for a total transaction of $523,725.24. Following the sale, the executive vice president now directly owns 142,472 shares of the company’s stock, valued at approximately $17,421,476.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Frederic E. Mccoy sold 4,283 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $122.28, for a total value of $523,725.24. Following the transaction, the executive vice president now owns 142,472 shares in the company, valued at approximately $17,421,476.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Francis Mckay sold 11,755 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the sale, the senior vice president now directly owns 41,507 shares of the company’s stock, valued at $5,051,816.97. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,689 shares of company stock valued at $5,377,431 in the last quarter. 2.62% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on JBL shares. Bank of America lifted their price target on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 27th. JPMorgan Chase & Co. cut 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. Barclays increased their price target on shares of Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Finally, Stifel Nicolaus lifted their price objective on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Jabil presently has a consensus rating of “Moderate Buy” and an average price target of $143.50.

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).