Metis Global Partners LLC Cuts Stock Holdings in Jabil Inc. (NYSE:JBL)

Metis Global Partners LLC lessened its holdings in Jabil Inc. (NYSE:JBL) by 4.0% during the third quarter, Holdings Channel.com reports. The firm owned 3,647 shares of the technology company’s stock after selling 151 shares during the quarter. Metis Global Partners LLC’s holdings in Jabil were worth $437,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JBL. HHM Wealth Advisors LLC acquired a new stake in shares of Jabil in the 2nd quarter valued at approximately $28,000. Innealta Capital LLC acquired a new stake in Jabil in the second quarter valued at $31,000. Capital Performance Advisors LLP purchased a new stake in shares of Jabil during the 3rd quarter worth $32,000. Family Firm Inc. acquired a new position in shares of Jabil during the 2nd quarter worth $37,000. Finally, Matrix Trust Co increased its holdings in shares of Jabil by 135.4% in the 3rd quarter. Matrix Trust Co now owns 372 shares of the technology company’s stock valued at $45,000 after purchasing an additional 214 shares in the last quarter. Institutional investors and hedge funds own 93.39% of the company’s stock.

Jabil Price Performance

JBL stock opened at $128.29 on Tuesday. The stock’s 50 day moving average price is $121.77 and its 200 day moving average price is $115.49. The firm has a market cap of $14.48 billion, a P/E ratio of 11.64, a PEG ratio of 1.51 and a beta of 1.24. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.72 and a current ratio of 1.09. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94.

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

Jabil Announces Dividend

The company also recently disclosed 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 is presently 2.90%.

Wall Street Analyst Weigh In

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

Insider Activity at Jabil

In other news, SVP Francis Mckay sold 11,755 shares of the company’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 41,507 shares of the company’s stock, valued at $5,051,816.97. This represents a 22.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $124.70, for a total transaction of $2,494,000.00. Following the completion of the sale, the director now directly owns 139,108 shares in the company, valued at $17,346,767.60. This represents a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,689 shares of company stock valued at $5,377,431. Company insiders own 2.62% of the company’s stock.

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).