Illinois Municipal Retirement Fund Decreases Stock Position in Jabil Inc. (NYSE:JBL)

Illinois Municipal Retirement Fund trimmed its position in shares of Jabil Inc. (NYSE:JBL) by 27.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,186 shares of the technology company’s stock after selling 8,818 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Jabil were worth $3,336,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of JBL. FMR LLC lifted its holdings in shares of Jabil by 11.3% in the 3rd quarter. FMR LLC now owns 5,116,308 shares of the technology company’s stock worth $613,087,000 after acquiring an additional 520,672 shares during the last quarter. Primecap Management Co. CA raised its position in Jabil by 0.3% in the 3rd quarter. Primecap Management Co. CA now owns 3,692,560 shares of the technology company’s stock worth $442,479,000 after purchasing an additional 9,685 shares during the period. Pacer Advisors Inc. lifted its stake in Jabil by 12,251.7% in the third quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock worth $264,391,000 after purchasing an additional 2,188,521 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Jabil by 15.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 903,526 shares of the technology company’s stock valued at $108,270,000 after buying an additional 118,376 shares during the period. Finally, Two Sigma Advisers LP grew its stake in shares of Jabil by 406.5% during the third quarter. Two Sigma Advisers LP now owns 722,800 shares of the technology company’s stock valued at $86,613,000 after buying an additional 580,100 shares during the last quarter. Institutional investors own 93.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. StockNews.com lowered Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday. Barclays lifted their target price on Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. UBS Group upped their price target on shares of Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. The Goldman Sachs Group lifted their price objective on shares of Jabil from $160.00 to $179.00 and gave the company a “buy” rating in a report on Monday. Finally, Stifel Nicolaus restated a “buy” rating and issued a $160.00 target price (up from $150.00) on shares of Jabil in a research note on Thursday, December 19th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $158.83.

Insider Activity

In other Jabil 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 directly owns 119,108 shares of the company’s stock, valued at approximately $18,021,040.40. This represents a 14.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Frederic E. Mccoy sold 4,000 shares of Jabil stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $149.81, for a total transaction of $599,240.00. Following the completion of the transaction, the executive vice president now directly owns 138,472 shares in the company, valued at approximately $20,744,490.32. The trade was 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 worth $12,804,458. 1.73% of the stock is currently owned by company insiders.

Jabil Stock Performance

JBL stock opened at $158.81 on Thursday. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $174.80. The business has a 50-day moving average price of $158.48 and a 200 day moving average price of $134.16. The company has a market capitalization of $17.34 billion, a P/E ratio of 15.23, a PEG ratio of 1.65 and a beta of 1.23. 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 posted its quarterly earnings results on Wednesday, December 18th. The technology company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.88 by $0.12. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The business had revenue of $6.99 billion during the quarter, compared to analyst estimates of $6.61 billion. During the same quarter in the previous year, the business posted $2.60 EPS. The company’s quarterly revenue was down 16.6% compared to the same quarter last year. As a group, equities research analysts forecast that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.32 annualized dividend and a yield of 0.20%. Jabil’s dividend payout ratio (DPR) is presently 3.07%.

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).