Jabil Inc. (NYSE:JBL) Stake Decreased by Kentucky Retirement Systems

Kentucky Retirement Systems lessened its holdings in shares of Jabil Inc. (NYSE:JBL) by 13.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,903 shares of the technology company’s stock after selling 1,185 shares during the period. Kentucky Retirement Systems’ holdings in Jabil were worth $947,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. HHM Wealth Advisors LLC bought a new stake in shares of Jabil during the second quarter valued at approximately $28,000. Innealta Capital LLC bought a new stake in shares of Jabil during the second quarter valued at approximately $31,000. Capital Performance Advisors LLP bought a new stake in shares of Jabil during the third quarter valued at approximately $32,000. Family Firm Inc. bought a new stake in shares of Jabil during the second quarter valued at approximately $37,000. Finally, Matrix Trust Co raised its holdings in shares of Jabil by 135.4% during the third quarter. Matrix Trust Co now owns 372 shares of the technology company’s stock valued at $45,000 after buying an additional 214 shares during the last quarter. Institutional investors own 93.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on JBL shares. Barclays boosted their target price on Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Stifel Nicolaus boosted their target price on Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Bank of America boosted their target price on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, JPMorgan Chase & Co. dropped their target price on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.50.

Insiders Place Their Bets

In other Jabil news, SVP Francis Mckay sold 11,755 shares of Jabil stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 41,507 shares in the company, valued at approximately $5,051,816.97. The trade was a 22.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven A. Raymund sold 20,000 shares of Jabil stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $124.70, for a total transaction of $2,494,000.00. Following the transaction, the director now owns 139,108 shares in the company, valued at approximately $17,346,767.60. The trade was a 12.57 % 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. Corporate insiders own 2.62% of the company’s stock.

Jabil Trading Down 0.6 %

Jabil stock opened at $127.52 on Wednesday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.72 and a current ratio of 1.09. The firm has a market cap of $14.39 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 1.51 and a beta of 1.24. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94. The firm’s 50 day moving average price is $122.29 and its two-hundred day moving average price is $115.56.

Jabil (NYSE:JBL) last posted its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.08. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.59 billion. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The firm’s quarterly revenue was down 17.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.34 earnings per share. On average, research analysts predict that Jabil Inc. will post 7.84 EPS for the current fiscal year.

Jabil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend is Friday, November 15th. Jabil’s payout ratio is 2.90%.

Jabil Company 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).