Crossmark Global Holdings Inc. Trims Holdings in Jabil Inc. (NYSE:JBL)

Crossmark Global Holdings Inc. lowered its position in Jabil Inc. (NYSE:JBL) by 10.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,427 shares of the technology company’s stock after selling 616 shares during the period. Crossmark Global Holdings Inc.’s holdings in Jabil were worth $650,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of JBL. Point72 Asset Management L.P. purchased a new stake in shares of Jabil in the 2nd quarter valued at $78,660,000. AQR Capital Management LLC boosted its holdings in Jabil by 195.8% in the second quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock valued at $115,404,000 after purchasing an additional 702,199 shares during the last quarter. Bank of New York Mellon Corp grew its position in Jabil by 29.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock worth $150,463,000 after purchasing an additional 310,590 shares during the period. Westfield Capital Management Co. LP purchased a new position in shares of Jabil during the 1st quarter valued at about $39,040,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Jabil by 72.0% in the 2nd quarter. Victory Capital Management Inc. now owns 490,499 shares of the technology company’s stock valued at $53,361,000 after buying an additional 205,331 shares during the period. Institutional investors and hedge funds own 93.39% of the company’s stock.

Insider Transactions at Jabil

In other Jabil news, EVP Matthew Crowley sold 1,380 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $125.83, for a total value of $173,645.40. Following the completion of the sale, the executive vice president now directly owns 18,568 shares of the company’s stock, valued at $2,336,411.44. This trade represents a 6.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Frederic E. Mccoy sold 4,283 shares of the business’s 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 completion of the transaction, the executive vice president now owns 142,472 shares in the company, valued at $17,421,476.16. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,689 shares of company stock valued at $5,377,431. Corporate insiders own 2.62% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on JBL. Barclays lifted their price target on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Stifel Nicolaus boosted their target price on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Bank of America raised their price target on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.50.

Jabil Stock Performance

JBL opened at $128.26 on Friday. The firm’s fifty day simple moving average is $121.26 and its two-hundred day simple moving average is $115.40. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $156.94. The company has a market cap of $14.47 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 1.55 and a beta of 1.24. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 1.66.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.08. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The company had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.59 billion. During the same period in the previous year, the firm posted $2.34 EPS. Jabil’s revenue was down 17.7% compared to the same quarter last year. Equities analysts anticipate that Jabil Inc. will post 7.84 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend is Friday, November 15th. Jabil’s dividend payout ratio (DPR) is 2.90%.

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).