Janus Henderson Group PLC Cuts Stock Position in Jabil Inc. (NYSE:JBL)

Janus Henderson Group PLC cut its holdings in shares of Jabil Inc. (NYSE:JBL) by 97.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,667 shares of the technology company’s stock after selling 415,321 shares during the quarter. Janus Henderson Group PLC’s holdings in Jabil were worth $1,158,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in JBL. Van ECK Associates Corp increased its holdings in Jabil by 6.0% during the third quarter. Van ECK Associates Corp now owns 1,589 shares of the technology company’s stock worth $195,000 after buying an additional 90 shares during the last quarter. Verdence Capital Advisors LLC increased its stake in shares of Jabil by 2.9% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,234 shares of the technology company’s stock worth $387,000 after purchasing an additional 91 shares during the last quarter. Gateway Investment Advisers LLC raised its holdings in shares of Jabil by 3.5% in the 3rd quarter. Gateway Investment Advisers LLC now owns 3,139 shares of the technology company’s stock worth $376,000 after purchasing an additional 105 shares during the period. Richard P Slaughter Associates Inc lifted its stake in Jabil by 0.7% in the third quarter. Richard P Slaughter Associates Inc now owns 17,624 shares of the technology company’s stock valued at $2,112,000 after purchasing an additional 120 shares during the last quarter. Finally, Private Advisor Group LLC grew its holdings in Jabil by 4.9% during the third quarter. Private Advisor Group LLC now owns 2,578 shares of the technology company’s stock valued at $309,000 after purchasing an additional 120 shares during the period. 93.39% of the stock is currently owned by institutional investors.

Insider Transactions at Jabil

In other Jabil news, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 139,108 shares in the company, valued at $17,346,767.60. This trade represents a 12.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Frederic E. Mccoy sold 4,000 shares of the company’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 completion of the transaction, the executive vice president now owns 108,753 shares of the company’s stock, valued at $12,908,981.10. The trade was a 3.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,689 shares of company stock valued at $5,377,431. 2.62% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Jabil Price Performance

JBL stock opened at $135.13 on Friday. The firm has a 50 day moving average of $129.51 and a 200-day moving average of $117.57. The firm has a market capitalization of $15.25 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 1.57 and a beta of 1.25. Jabil Inc. has a 12 month low of $95.85 and a 12 month high of $156.94. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 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 the consensus estimate of $6.59 billion. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The business’s quarterly revenue was down 17.7% compared to the same quarter last year. During the same period last year, the firm earned $2.34 EPS. As a group, sell-side analysts predict that Jabil Inc. will post 7.89 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. Jabil’s dividend payout ratio (DPR) is presently 2.90%.

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).