Swiss National Bank Reduces Holdings in Jabil Inc. (NYSE:JBL)

Swiss National Bank reduced its holdings in shares of Jabil Inc. (NYSE:JBL) by 5.7% in the third quarter, Holdings Channel reports. The institutional investor owned 336,700 shares of the technology company’s stock after selling 20,400 shares during the period. Swiss National Bank’s holdings in Jabil were worth $40,347,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in JBL. Primecap Management Co. CA grew its position in shares of Jabil by 3.0% during the 2nd quarter. Primecap Management Co. CA now owns 3,682,875 shares of the technology company’s stock valued at $400,660,000 after acquiring an additional 107,800 shares during the period. Dimensional Fund Advisors LP increased its position in Jabil by 7.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,636,737 shares of the technology company’s stock worth $178,058,000 after buying an additional 106,808 shares in the last quarter. Bank of New York Mellon Corp increased its position in Jabil by 29.0% in the second quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock worth $150,463,000 after buying an additional 310,590 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Jabil by 195.8% in the second quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock worth $115,404,000 after buying an additional 702,199 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Jabil during the 2nd quarter valued at about $78,660,000. 93.39% of the stock is currently owned by institutional investors.

Insider Activity at Jabil

In other news, EVP Matthew Crowley sold 1,380 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $125.83, for a total value of $173,645.40. Following the sale, the executive vice president now directly owns 18,568 shares in the company, valued at $2,336,411.44. The trade was a 6.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $124.70, for a total transaction of $2,494,000.00. Following the completion of the transaction, the director now directly owns 139,108 shares of the company’s stock, valued at approximately $17,346,767.60. The trade was a 12.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,689 shares of company stock valued at $5,377,431. 2.62% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

JBL has been the topic of a number of recent analyst reports. Bank of America raised their target price on shares of Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Stifel Nicolaus raised their price objective on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. dropped their target price on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Finally, Barclays raised their price target 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 issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $143.50.

Jabil Stock Performance

Shares of NYSE JBL opened at $128.18 on Thursday. The firm’s fifty day moving average is $122.79 and its two-hundred day moving average is $115.65. 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 $14.46 billion, a P/E ratio of 11.63, a P/E/G 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 (NYSE:JBL) last posted its earnings results on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.08. The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.59 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The firm’s revenue for the quarter was down 17.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.34 earnings per share. As a group, analysts anticipate that Jabil Inc. will post 7.84 EPS for the current fiscal year.

Jabil Announces Dividend

The company 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 dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. Jabil’s dividend payout ratio is currently 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).