Jabil Inc. (NYSE:JBL) Stock Position Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in shares of Jabil Inc. (NYSE:JBL) by 1.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 137,273 shares of the technology company’s stock after selling 1,558 shares during the quarter. Principal Financial Group Inc.’s holdings in Jabil were worth $16,449,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of JBL. Pacer Advisors Inc. boosted its position in shares of Jabil by 12,251.7% in the third quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock worth $264,391,000 after buying an additional 2,188,521 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Jabil in the second quarter worth $78,660,000. AQR Capital Management LLC boosted its position 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. Two Sigma Advisers LP boosted its position in shares of Jabil by 406.5% in the third quarter. Two Sigma Advisers LP now owns 722,800 shares of the technology company’s stock worth $86,613,000 after buying an additional 580,100 shares during the period. Finally, FMR LLC boosted its position in shares of Jabil by 11.3% in the third quarter. FMR LLC now owns 5,116,308 shares of the technology company’s stock worth $613,087,000 after buying an additional 520,672 shares during the period. 93.39% of the stock is owned by institutional investors.

Jabil Price Performance

Shares of NYSE:JBL opened at $145.92 on Friday. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94. The business has a fifty day simple moving average of $133.31 and a 200 day simple moving average of $119.42. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66. The firm has a market cap of $16.47 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 1.58 and a beta of 1.25.

Jabil (NYSE:JBL) last posted its earnings results on Wednesday, December 18th. The technology company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.12. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The company had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.61 billion. During the same period last year, the company earned $2.60 earnings per share. The business’s revenue was down 16.6% compared to the same quarter last year. 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 business also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, November 15th. This represents a $0.32 annualized dividend and a yield of 0.22%. Jabil’s dividend payout ratio (DPR) is currently 2.90%.

Analyst Ratings Changes

Several brokerages have recently commented on JBL. Barclays raised their target price on Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. StockNews.com cut Jabil from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. The Goldman Sachs Group increased their price objective on Jabil from $136.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Stifel Nicolaus reiterated a “buy” rating and set a $160.00 price objective (up from $150.00) on shares of Jabil in a report on Thursday, December 19th. Finally, UBS Group increased their price objective on Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Jabil presently has an average rating of “Moderate Buy” and an average price target of $153.17.

Insider Buying and Selling at Jabil

In other news, EVP Matthew Crowley sold 1,380 shares of Jabil stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $125.83, for a total value of $173,645.40. Following the transaction, the executive vice president now directly owns 18,568 shares in the company, valued at approximately $2,336,411.44. The trade was a 6.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven A. Raymund sold 20,000 shares of Jabil stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $124.70, for a total value of $2,494,000.00. Following the completion of the transaction, the director now owns 139,108 shares in the company, valued at $17,346,767.60. The trade was a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,689 shares of company stock worth $5,377,431 over the last three months. Corporate 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).