UMB Bank n.a. Reduces Stock Holdings in Jabil Inc. (NYSE:JBL)

UMB Bank n.a. lessened its stake in shares of Jabil Inc. (NYSE:JBL) by 6.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,179 shares of the technology company’s stock after selling 146 shares during the quarter. UMB Bank n.a.’s holdings in Jabil were worth $261,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of JBL. Cetera Investment Advisers raised its stake in shares of Jabil by 141.7% in the first quarter. Cetera Investment Advisers now owns 17,350 shares of the technology company’s stock valued at $2,324,000 after acquiring an additional 10,173 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Jabil by 30.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 331,373 shares of the technology company’s stock worth $44,387,000 after purchasing an additional 76,573 shares during the last quarter. Tobam purchased a new position in shares of Jabil during the first quarter valued at approximately $1,692,000. BNP Paribas Financial Markets boosted its position in shares of Jabil by 222.8% during the first quarter. BNP Paribas Financial Markets now owns 132,346 shares of the technology company’s stock valued at $17,728,000 after buying an additional 91,347 shares during the period. Finally, CreativeOne Wealth LLC grew its stake in shares of Jabil by 239.2% during the first quarter. CreativeOne Wealth LLC now owns 10,116 shares of the technology company’s stock valued at $1,355,000 after buying an additional 7,134 shares during the last quarter. 93.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Jabil news, EVP Frederic E. Mccoy sold 1,250 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 112,753 shares in the company, valued at approximately $13,126,704.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, 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 owns 112,753 shares of the company’s stock, valued at $13,126,704.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP May Yee Yap sold 4,274 shares of Jabil stock in a transaction on Tuesday, July 16th. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,524 shares of company stock worth $1,120,554 in the last three months. 2.62% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on JBL. Bank of America boosted their price objective on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 27th. Barclays boosted their target price 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. JPMorgan Chase & Co. reduced their price target on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. UBS Group lowered their price objective 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, Stifel Nicolaus upped their target price on shares of Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $143.50.

Jabil Stock Up 1.1 %

Shares of Jabil stock opened at $124.23 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72. The stock has a market cap of $14.09 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 1.46 and a beta of 1.25. The firm’s 50-day moving average is $109.79 and its two-hundred day moving average is $115.76. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94.

Jabil (NYSE:JBL) last released its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.08. The firm had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.59 billion. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The company’s quarterly revenue was down 17.7% on a year-over-year basis. During the same period last year, the firm earned $2.34 earnings per share. As a group, research analysts expect that Jabil Inc. will post 7.84 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date was Thursday, August 15th. Jabil’s dividend payout ratio (DPR) is currently 2.90%.

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).