State Board of Administration of Florida Retirement System Trims Position in Jabil Inc. (NYSE:JBL)

State Board of Administration of Florida Retirement System cut its position in Jabil Inc. (NYSE:JBLFree Report) by 0.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,582 shares of the technology company’s stock after selling 640 shares during the period. State Board of Administration of Florida Retirement System owned 0.11% of Jabil worth $18,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the business. Bessemer Group Inc. grew its holdings in shares of Jabil by 87.2% in the second quarter. Bessemer Group Inc. now owns 234 shares of the technology company’s stock valued at $26,000 after purchasing an additional 109 shares during the period. Amundi increased its stake in Jabil by 419.8% in the fourth quarter. Amundi now owns 421 shares of the technology company’s stock valued at $32,000 after purchasing an additional 340 shares during the last quarter. Zions Bancorporation N.A. acquired a new stake in Jabil during the 1st quarter worth $40,000. ST Germain D J Co. Inc. purchased a new position in shares of Jabil during the second quarter worth about $41,000. Finally, Crewe Advisors LLC grew its holdings in shares of Jabil by 73.3% during the second quarter. Crewe Advisors LLC now owns 390 shares of the technology company’s stock worth $42,000 after purchasing an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Insider Activity at Jabil

In other Jabil news, CEO Steven D. Borges sold 14,175 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $130.00, for a total value of $1,842,750.00. Following the completion of the sale, the chief executive officer now owns 103,086 shares of the company’s stock, valued at $13,401,180. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Steven D. Borges sold 14,175 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $130.00, for a total value of $1,842,750.00. Following the completion of the transaction, the chief executive officer now owns 103,086 shares in the company, valued at approximately $13,401,180. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David M. Stout sold 31,300 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $123.12, for a total transaction of $3,853,656.00. Following the completion of the sale, the director now owns 67,300 shares of the company’s stock, valued at approximately $8,285,976. The disclosure for this sale can be found here. Insiders have sold a total of 55,658 shares of company stock worth $7,011,771 over the last three months. 2.62% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

JBL has been the subject of a number of research analyst reports. StockNews.com cut Jabil from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Barclays lowered their target price on shares of Jabil from $153.00 to $151.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 17th. Stifel Nicolaus upped their price target on shares of Jabil from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, December 15th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Jabil from $150.00 to $146.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 29th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $135.88.

Check Out Our Latest Stock Report on Jabil

Jabil Stock Performance

Shares of JBL opened at $139.77 on Friday. The stock has a market capitalization of $17.83 billion, a P/E ratio of 23.85, a P/E/G ratio of 1.37 and a beta of 1.40. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.73 and a current ratio of 1.12. Jabil Inc. has a 1 year low of $74.16 and a 1 year high of $141.38. The company’s fifty day moving average is $126.49 and its two-hundred day moving average is $121.18.

Jabil (NYSE:JBLGet Free Report) last issued its quarterly earnings results on Thursday, December 14th. The technology company reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.02. The business had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. Jabil had a net margin of 2.36% and a return on equity of 41.09%. The business’s revenue was down 13.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.61 earnings per share. On average, sell-side analysts predict that Jabil Inc. will post 8.49 earnings per share for the current year.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 4th. Stockholders of record on Thursday, February 15th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.23%. Jabil’s dividend payout ratio is currently 5.46%.

Jabil Company Profile

(Free Report)

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).

Further Reading

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Institutional Ownership by Quarter for Jabil (NYSE:JBL)

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