Hennessy Advisors Inc. Sells 54,484 Shares of Jabil Inc. (NYSE:JBL)

Hennessy Advisors Inc. lessened its stake in Jabil Inc. (NYSE:JBL) by 71.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 21,822 shares of the technology company’s stock after selling 54,484 shares during the quarter. Hennessy Advisors Inc.’s holdings in Jabil were worth $2,374,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in JBL. Czech National Bank grew its position in shares of Jabil by 0.3% in the 1st quarter. Czech National Bank now owns 22,439 shares of the technology company’s stock valued at $3,006,000 after acquiring an additional 73 shares during the period. Beacon Pointe Advisors LLC increased its position in Jabil by 2.5% during the fourth quarter. Beacon Pointe Advisors LLC now owns 3,377 shares of the technology company’s stock worth $430,000 after buying an additional 83 shares during the last quarter. Mackenzie Financial Corp raised its stake in Jabil by 0.9% in the fourth quarter. Mackenzie Financial Corp now owns 10,258 shares of the technology company’s stock valued at $1,307,000 after buying an additional 90 shares during the period. Field & Main Bank lifted its position in shares of Jabil by 5.6% in the fourth quarter. Field & Main Bank now owns 1,875 shares of the technology company’s stock valued at $239,000 after buying an additional 100 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Jabil by 15.3% during the 2nd quarter. GAMMA Investing LLC now owns 797 shares of the technology company’s stock worth $87,000 after acquiring an additional 106 shares during the period. 93.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on JBL shares. UBS Group dropped their price target on Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, June 21st. Barclays reduced their target price on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, June 21st. JPMorgan Chase & Co. lowered their price target on shares of Jabil from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, June 17th. Finally, Bank of America reduced their price objective on Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a report on Friday, June 21st. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.63.

Jabil Stock Performance

NYSE JBL opened at $108.51 on Friday. Jabil Inc. has a 12-month low of $95.85 and a 12-month high of $156.94. The firm has a 50-day moving average price of $110.17 and a two-hundred day moving average price of $122.71. The company has a market capitalization of $12.31 billion, a P/E ratio of 9.87, a P/E/G ratio of 1.95 and a beta of 1.27. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 1.26.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Thursday, June 20th. The technology company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The business had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.53 billion. During the same period in the previous year, the company posted $1.85 earnings per share. The firm’s revenue for the quarter was down 20.2% compared to the same quarter last year. Analysts anticipate that Jabil Inc. will post 7.86 earnings per share for the current year.

Jabil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, August 15th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date is Thursday, August 15th. Jabil’s payout ratio is currently 2.91%.

Insider Activity at Jabil

In other Jabil news, SVP May Yee Yap sold 4,274 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total transaction of $500,228.96. Following the sale, the senior vice president now directly owns 24,829 shares in the company, valued at $2,905,986.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Jabil news, SVP May Yee Yap sold 4,274 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total transaction of $500,228.96. Following the completion of the transaction, the senior vice president now directly owns 24,829 shares in the company, valued at $2,905,986.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Frederic E. Mccoy sold 1,250 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $116.42, for a total value of $145,525.00. Following the completion of the sale, the executive vice president now directly owns 112,753 shares in the company, valued at approximately $13,126,704.26. The disclosure for this sale can be found here. 2.62% of the stock is owned by insiders.

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).