Intech Investment Management LLC Sells 89,871 Shares of Jabil Inc. (NYSE:JBL)

Intech Investment Management LLC decreased its position in shares of Jabil Inc. (NYSE:JBL) by 93.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 5,948 shares of the technology company’s stock after selling 89,871 shares during the period. Intech Investment Management LLC’s holdings in Jabil were worth $647,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of JBL. Benjamin Edwards Inc. acquired a new stake in shares of Jabil during the first quarter valued at about $25,000. HHM Wealth Advisors LLC acquired a new stake in Jabil during the 2nd quarter worth approximately $28,000. ORG Partners LLC acquired a new stake in Jabil during the 1st quarter worth approximately $29,000. Innealta Capital LLC bought a new stake in Jabil during the 2nd quarter worth approximately $31,000. Finally, Riverview Trust Co bought a new position in shares of Jabil during the first quarter valued at $33,000. Institutional investors and hedge funds own 93.39% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on JBL. Barclays reduced their price objective on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Bank of America decreased their price target on Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Friday, June 21st. Stifel Nicolaus cut their price objective on Jabil from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. UBS Group decreased their target price on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, June 21st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $139.88.

Jabil Price Performance

Jabil stock opened at $113.43 on Thursday. The stock has a market capitalization of $12.87 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 2.23 and a beta of 1.25. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $156.94. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 1.13. The stock’s 50 day moving average price is $106.90 and its two-hundred day moving average price is $116.83.

Jabil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Thursday, August 15th. Jabil’s dividend payout ratio is presently 2.91%.

Insiders Place Their Bets

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