Corebridge Financial Inc. Sells 1,842 Shares of Jabil Inc. (NYSE:JBL)

Corebridge Financial Inc. reduced its position in shares of Jabil Inc. (NYSE:JBL) by 6.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,807 shares of the technology company’s stock after selling 1,842 shares during the quarter. Corebridge Financial Inc.’s holdings in Jabil were worth $3,858,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Meyer Handelman Co. bought a new stake in Jabil during the fourth quarter valued at approximately $7,334,000. Davis Investment Partners LLC bought a new stake in shares of Jabil during the 4th quarter valued at $1,433,000. Truist Financial Corp increased its stake in shares of Jabil by 50.4% in the 4th quarter. Truist Financial Corp now owns 12,037 shares of the technology company’s stock worth $1,732,000 after purchasing an additional 4,034 shares in the last quarter. Merit Financial Group LLC bought a new position in Jabil in the 4th quarter worth $235,000. Finally, Keybank National Association OH purchased a new position in Jabil during the fourth quarter valued at $214,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on JBL. Stifel Nicolaus restated a “buy” rating and issued a $160.00 price target (up previously from $150.00) on shares of Jabil in a research report on Thursday, December 19th. UBS Group raised their target price on shares of Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. The Goldman Sachs Group upped their price target on shares of Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. StockNews.com raised shares of Jabil from a “hold” rating to a “buy” rating in a research note on Friday, March 21st. Finally, Barclays lifted their target price on shares of Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $167.50.

Jabil Trading Down 2.5 %

Jabil stock opened at $135.97 on Monday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72. The firm’s 50 day moving average price is $154.45 and its 200-day moving average price is $139.84. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $174.80. The stock has a market cap of $14.84 billion, a P/E ratio of 13.04, a PEG ratio of 1.65 and a beta of 1.19.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same period in the previous year, the firm posted $1.68 EPS. Jabil’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities analysts predict that Jabil Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.24%. The ex-dividend date was Tuesday, February 18th. Jabil’s dividend payout ratio is presently 7.66%.

Insiders Place Their Bets

In other Jabil news, Director John C. Plant sold 50,000 shares of Jabil stock in a transaction on Friday, January 24th. The shares were sold at an average price of $172.55, for a total value of $8,627,500.00. Following the completion of the transaction, the director now directly owns 5,900 shares of the company’s stock, valued at $1,018,045. This trade represents a 89.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Christopher S. Holland sold 3,400 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $162.27, for a total transaction of $551,718.00. Following the sale, the director now owns 12,900 shares in the company, valued at $2,093,283. This represents a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 77,400 shares of company stock valued at $12,804,458 in the last quarter. 1.73% of the stock is currently owned by insiders.

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).