Jabil Inc. (NYSE:JBL) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. trimmed its stake in Jabil Inc. (NYSE:JBL) by 55.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,881 shares of the technology company’s stock after selling 7,384 shares during the quarter. Advisors Asset Management Inc.’s holdings in Jabil were worth $705,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. raised its stake in Jabil by 2,750.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 110,701 shares of the technology company’s stock valued at $13,265,000 after purchasing an additional 106,818 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Jabil by 2.9% during the third quarter. PNC Financial Services Group Inc. now owns 35,734 shares of the technology company’s stock worth $4,282,000 after buying an additional 1,013 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Jabil in the third quarter valued at approximately $365,000. Meeder Asset Management Inc. lifted its stake in shares of Jabil by 72.5% during the third quarter. Meeder Asset Management Inc. now owns 8,635 shares of the technology company’s stock valued at $1,035,000 after buying an additional 3,628 shares during the period. Finally, Empirical Finance LLC boosted its position in Jabil by 5.6% during the third quarter. Empirical Finance LLC now owns 5,641 shares of the technology company’s stock worth $676,000 after acquiring an additional 297 shares during the last quarter. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Jabil Stock Down 1.0 %

Shares of Jabil stock opened at $132.70 on Wednesday. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $156.94. The stock has a market cap of $14.97 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24. 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 company has a fifty day moving average price of $124.39 and a 200 day moving average price of $115.92.

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

Jabil Dividend Announcement

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

Insider Transactions at Jabil

In related news, SVP Francis Mckay sold 11,755 shares of Jabil stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $121.71, for a total value of $1,430,701.05. Following the completion of the sale, the senior vice president now owns 41,507 shares in the company, valued at approximately $5,051,816.97. The trade was a 22.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Matthew Crowley sold 1,380 shares of the 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 transaction, the executive vice president now owns 18,568 shares in the company, valued at $2,336,411.44. This trade represents a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,689 shares of company stock valued at $5,377,431. Corporate insiders own 2.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on JBL shares. Barclays increased their price target on Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Bank of America upped 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. Stifel Nicolaus lifted their target price on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, JPMorgan Chase & Co. dropped their price target on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.50.

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).