Ascent Group LLC Reduces Position in Jabil Inc. (NYSE:JBL)

Ascent Group LLC lessened its holdings in shares of Jabil Inc. (NYSE:JBL) by 11.9% in the 2nd quarter, Holdings Channel reports. The fund owned 3,328 shares of the technology company’s stock after selling 451 shares during the quarter. Ascent Group LLC’s holdings in Jabil were worth $362,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of JBL. Benjamin Edwards Inc. purchased a new stake in Jabil during the 1st quarter valued at about $25,000. HHM Wealth Advisors LLC purchased a new stake in Jabil during the 2nd quarter valued at about $28,000. ORG Partners LLC purchased a new stake in Jabil during the 1st quarter valued at about $29,000. Innealta Capital LLC purchased a new stake in Jabil during the 2nd quarter valued at about $31,000. Finally, Riverview Trust Co purchased a new stake in Jabil during the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Insiders Place Their Bets

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

Jabil Stock Performance

Shares of JBL stock opened at $119.16 on Wednesday. The firm’s 50 day moving average price is $107.69 and its 200-day moving average price is $116.04. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 1.13. Jabil Inc. has a one year low of $95.85 and a one year high of $156.94. The firm has a market cap of $13.52 billion, a P/E ratio of 10.84, a P/E/G ratio of 2.23 and a beta of 1.25.

Jabil (NYSE:JBL) last released its earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.08. The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.59 billion. Jabil had a net margin of 4.63% and a return on equity of 40.30%. The firm’s quarterly revenue was down 17.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.34 EPS. As a group, equities research analysts predict that Jabil Inc. will post 7.85 EPS for the current year.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. Jabil’s dividend payout ratio (DPR) is presently 2.91%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on JBL shares. Bank of America increased 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. Stifel Nicolaus increased their price target on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. dropped their price target 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. Barclays increased their price target on shares of Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Finally, UBS Group dropped their price target on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, June 21st. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $145.86.

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).