Quest Partners LLC Reduces Stock Holdings in Jabil Inc. (NYSE:JBL)

Quest Partners LLC lowered its holdings in shares of Jabil Inc. (NYSE:JBL) by 31.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,223 shares of the technology company’s stock after selling 1,019 shares during the quarter. Quest Partners LLC’s holdings in Jabil were worth $266,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Janus Henderson Group PLC raised its holdings in Jabil by 4.8% in the 1st quarter. Janus Henderson Group PLC now owns 444,736 shares of the technology company’s stock worth $59,536,000 after purchasing an additional 20,437 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in shares of Jabil by 32.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 22,900 shares of the technology company’s stock valued at $2,906,000 after buying an additional 5,606 shares in the last quarter. Tidal Investments LLC grew its stake in shares of Jabil by 39.7% during the 1st quarter. Tidal Investments LLC now owns 14,282 shares of the technology company’s stock valued at $1,913,000 after acquiring an additional 4,056 shares during the period. Comerica Bank increased its holdings in Jabil by 68.5% in the 1st quarter. Comerica Bank now owns 42,709 shares of the technology company’s stock worth $5,721,000 after acquiring an additional 17,355 shares in the last quarter. Finally, iA Global Asset Management Inc. bought a new stake in shares of Jabil during the 1st quarter valued at $233,000. Institutional investors own 93.39% of the company’s stock.

Wall Street Analysts Forecast Growth

JBL has been the subject of several recent analyst reports. Barclays upped their target price on shares of Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Bank of America increased their target price on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. lowered their price target on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Finally, Stifel Nicolaus increased their price objective on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, September 27th. Two 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.50.

Insiders Place Their Bets

In other news, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $124.70, for a total value of $2,494,000.00. Following the completion of the sale, the director now owns 139,108 shares in the company, valued at approximately $17,346,767.60. This trade represents a 12.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Matthew Crowley sold 1,380 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $125.83, for a total transaction of $173,645.40. Following the transaction, the executive vice president now owns 18,568 shares in the company, valued at $2,336,411.44. The trade was a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,689 shares of company stock valued at $5,377,431 over the last ninety days. 2.62% of the stock is owned by insiders.

Jabil Stock Performance

NYSE JBL opened at $132.70 on Wednesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $156.94. The business has a 50 day simple moving average of $124.39 and a two-hundred day simple moving average of $115.92. The stock has a market capitalization of $14.97 billion, a PE ratio of 12.04, a P/E/G ratio of 1.55 and a beta of 1.24.

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

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be given a $0.08 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.32 annualized dividend and a yield of 0.24%. Jabil’s dividend payout ratio 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).