State of Alaska Department of Revenue Lowers Holdings in Jabil Inc. (NYSE:JBL)

State of Alaska Department of Revenue reduced its holdings in shares of Jabil Inc. (NYSE:JBL) by 33.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 40,143 shares of the technology company’s stock after selling 20,310 shares during the period. State of Alaska Department of Revenue’s holdings in Jabil were worth $5,776,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in shares of Jabil by 12,251.7% during the third quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock worth $264,391,000 after acquiring an additional 2,188,521 shares during the period. Two Sigma Advisers LP increased its holdings in Jabil by 406.5% during the 3rd quarter. Two Sigma Advisers LP now owns 722,800 shares of the technology company’s stock worth $86,613,000 after purchasing an additional 580,100 shares during the period. FMR LLC raised its position in Jabil by 11.3% in the 3rd quarter. FMR LLC now owns 5,116,308 shares of the technology company’s stock valued at $613,087,000 after purchasing an additional 520,672 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Jabil by 595.5% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 343,137 shares of the technology company’s stock valued at $41,118,000 after buying an additional 293,801 shares during the period. Finally, Worldquant Millennium Advisors LLC grew its position in shares of Jabil by 29.0% during the third quarter. Worldquant Millennium Advisors LLC now owns 574,938 shares of the technology company’s stock worth $68,895,000 after buying an additional 129,400 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Jabil Stock Performance

NYSE JBL opened at $165.36 on Friday. The company has a fifty day moving average of $150.63 and a two-hundred day moving average of $128.58. The company has a market capitalization of $18.05 billion, a PE ratio of 15.85, a P/E/G ratio of 1.61 and a beta of 1.23. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $174.80. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72.

Jabil (NYSE:JBL) last released its quarterly earnings results on Wednesday, December 18th. The technology company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.12. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The firm had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $6.61 billion. During the same quarter last year, the business posted $2.60 EPS. The firm’s quarterly revenue was down 16.6% compared to the same quarter last year. As a group, analysts expect that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend is Tuesday, February 18th. Jabil’s dividend payout ratio is currently 3.07%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on JBL. Barclays raised their target price on shares of Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a report on Friday, December 20th. StockNews.com cut shares of Jabil from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group increased their target price on Jabil from $136.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. UBS Group upped their price objective on Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $160.00 price objective (up previously from $150.00) on shares of Jabil in a report on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $153.17.

Insiders Place Their Bets

In other news, Director Steven A. Raymund sold 20,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $151.30, for a total transaction of $3,026,000.00. Following the completion of the sale, the director now owns 119,108 shares in the company, valued at approximately $18,021,040.40. This represents a 14.38 % 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 Frederic E. Mccoy sold 4,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $149.81, for a total value of $599,240.00. Following the completion of the transaction, the executive vice president now owns 138,472 shares in the company, valued at $20,744,490.32. This trade represents a 2.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,400 shares of company stock valued at $12,804,458. Insiders own 1.73% of the company’s stock.

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).