HighTower Advisors LLC Has $4.86 Million Stock Position in Jabil Inc. (NYSE:JBL)

HighTower Advisors LLC reduced its holdings in shares of Jabil Inc. (NYSE:JBL) by 24.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,543 shares of the technology company’s stock after selling 13,432 shares during the period. HighTower Advisors LLC’s holdings in Jabil were worth $4,859,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in JBL. Nicola Wealth Management LTD. increased its holdings in Jabil by 54.9% in the third quarter. Nicola Wealth Management LTD. now owns 39,500 shares of the technology company’s stock valued at $4,733,000 after purchasing an additional 14,000 shares during the last quarter. Foster & Motley Inc. boosted its position in Jabil by 8.7% during the 3rd quarter. Foster & Motley Inc. now owns 52,173 shares of the technology company’s stock worth $6,252,000 after acquiring an additional 4,181 shares during the last quarter. Empowered Funds LLC grew its position in Jabil by 11.8% in the third quarter. Empowered Funds LLC now owns 145,682 shares of the technology company’s stock valued at $17,457,000 after purchasing an additional 15,413 shares in the last quarter. Stanley Laman Group Ltd. bought a new position in shares of Jabil in the 2nd quarter valued at about $3,937,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Jabil by 58.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 192,815 shares of the technology company’s stock worth $23,105,000 after purchasing an additional 71,292 shares in the last quarter. 93.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. StockNews.com raised shares of Jabil from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 27th. Bank of America raised their target price on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 27th. Stifel Nicolaus upped their price objective on Jabil from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Barclays raised their target price on shares of Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.17.

Insider Buying and Selling

In other Jabil news, EVP Frederic E. Mccoy sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $118.70, for a total value of $474,800.00. Following the transaction, the executive vice president now directly owns 108,753 shares of the company’s stock, valued at approximately $12,908,981.10. This trade represents a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Francis Mckay sold 11,755 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was 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 approximately $5,051,816.97. The trade was a 22.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,689 shares of company stock worth $5,377,431 in the last three months. 2.62% of the stock is owned by corporate insiders.

Jabil Price Performance

Shares of NYSE JBL opened at $132.76 on Wednesday. The stock’s 50-day simple moving average is $128.67 and its two-hundred day simple moving average is $117.23. The firm has a market capitalization of $14.98 billion, a P/E ratio of 12.05, a P/E/G ratio of 1.59 and a beta of 1.25. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $156.94. 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 issued 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 analysts’ expectations of $6.59 billion. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The firm’s revenue was down 17.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.34 EPS. As a group, equities analysts anticipate that Jabil Inc. will post 7.89 EPS for the current fiscal year.

Jabil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were paid a $0.08 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.32 annualized dividend and a yield of 0.24%. Jabil’s payout ratio is 2.90%.

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).