Concurrent Investment Advisors LLC Has $217,000 Stock Position in Jabil Inc. (NYSE:JBL)

Concurrent Investment Advisors LLC lessened its stake in shares of Jabil Inc. (NYSE:JBL) by 7.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,812 shares of the technology company’s stock after selling 154 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Jabil were worth $217,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new position in shares of Jabil in the second quarter worth approximately $78,660,000. AQR Capital Management LLC boosted its position in shares of Jabil by 195.8% in the second quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock worth $115,404,000 after buying an additional 702,199 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Jabil by 29.0% during the second quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock valued at $150,463,000 after buying an additional 310,590 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in Jabil during the first quarter valued at $39,040,000. Finally, Victory Capital Management Inc. raised its position in Jabil by 72.0% during the second quarter. Victory Capital Management Inc. now owns 490,499 shares of the technology company’s stock valued at $53,361,000 after buying an additional 205,331 shares during the period. 93.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JBL has been the topic of a number of research reports. Barclays upped their target price on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a report on Friday, September 27th. JPMorgan Chase & Co. decreased their target price 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. Stifel Nicolaus boosted their price target on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Bank of America increased their price objective on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $143.50.

Jabil Stock Down 0.2 %

JBL stock opened at $135.52 on Tuesday. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94. The company has a fifty day simple moving average of $119.04 and a 200 day simple moving average of $115.03. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66. The firm has a market cap of $15.29 billion, a PE ratio of 12.30, a PEG ratio of 1.60 and a beta of 1.24.

Jabil (NYSE:JBL) last issued its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.08. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.59 billion. During the same quarter in the prior year, the firm posted $2.34 EPS. The firm’s revenue for the quarter was down 17.7% on a year-over-year basis. Sell-side analysts anticipate that Jabil Inc. will post 7.84 EPS for the current fiscal year.

Jabil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend is Friday, November 15th. Jabil’s dividend payout ratio is currently 2.90%.

Insider Activity at Jabil

In other Jabil news, EVP Matthew Crowley sold 1,380 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $125.83, for a total transaction of $173,645.40. Following the completion of the transaction, the executive vice president now owns 18,568 shares of the company’s stock, valued at $2,336,411.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Matthew Crowley sold 1,380 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $125.83, for a total transaction of $173,645.40. Following the completion of the transaction, the executive vice president now directly owns 18,568 shares in the company, valued at $2,336,411.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Francis Mckay sold 11,755 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the completion of the sale, the senior vice president now directly owns 41,507 shares of the company’s stock, valued at approximately $5,051,816.97. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,689 shares of company stock worth $5,377,431. 2.62% of the stock is 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).