LSV Asset Management Sells 175,870 Shares of Jabil Inc. (NYSE:JBL)

LSV Asset Management cut its stake in shares of Jabil Inc. (NYSE:JBL) by 6.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,526,366 shares of the technology company’s stock after selling 175,870 shares during the quarter. LSV Asset Management owned about 2.09% of Jabil worth $338,407,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of JBL. Czech National Bank increased its holdings in Jabil by 0.3% in the 1st quarter. Czech National Bank now owns 22,439 shares of the technology company’s stock worth $3,006,000 after buying an additional 73 shares in the last quarter. HB Wealth Management LLC increased its holdings in Jabil by 3.9% in the 4th quarter. HB Wealth Management LLC now owns 2,183 shares of the technology company’s stock worth $278,000 after buying an additional 82 shares in the last quarter. Beacon Pointe Advisors LLC increased its holdings in Jabil by 2.5% in the 4th quarter. Beacon Pointe Advisors LLC now owns 3,377 shares of the technology company’s stock worth $430,000 after buying an additional 83 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Jabil by 0.9% in the 4th quarter. Mackenzie Financial Corp now owns 10,258 shares of the technology company’s stock worth $1,307,000 after buying an additional 90 shares in the last quarter. Finally, Field & Main Bank increased its holdings in Jabil by 5.6% in the 4th quarter. Field & Main Bank now owns 1,875 shares of the technology company’s stock worth $239,000 after buying an additional 100 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

JBL has been the subject of several research analyst reports. Argus downgraded Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. JPMorgan Chase & Co. cut their price target on Jabil from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, June 17th. StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. UBS Group cut their price target on Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, June 21st. Finally, Bank of America cut their price target on Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Friday, June 21st. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $142.63.

Insider Buying and Selling

In related news, CEO Kenneth S. Wilson sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $134.20, for a total value of $2,013,000.00. Following the transaction, the chief executive officer now directly owns 339,725 shares of the company’s stock, valued at approximately $45,591,095. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.62% of the stock is owned by insiders.

Jabil Stock Performance

Shares of JBL stock traded up $0.51 during trading hours on Friday, reaching $114.93. 815,799 shares of the company traded hands, compared to its average volume of 1,478,338. Jabil Inc. has a 12-month low of $100.18 and a 12-month high of $156.94. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.74. The company has a market cap of $13.04 billion, a P/E ratio of 10.41, a P/E/G ratio of 2.03 and a beta of 1.27. The firm has a 50-day moving average price of $116.03 and a 200 day moving average price of $126.63.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Thursday, June 20th. The technology company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The firm had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.53 billion. During the same period in the previous year, the firm earned $1.85 EPS. The business’s quarterly revenue was down 20.2% on a year-over-year basis. As a group, sell-side analysts predict that Jabil Inc. will post 7.86 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 15th were given a dividend of $0.08 per share. The ex-dividend date was Tuesday, May 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. Jabil’s payout ratio is currently 2.91%.

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).