Jabil Inc. (NYSE:JBL) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in shares of Jabil Inc. (NYSE:JBL) by 7.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,209 shares of the technology company’s stock after selling 349 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Jabil were worth $564,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JBL. Benjamin Edwards Inc. acquired a new stake in shares of Jabil in the first quarter valued at $25,000. Activest Wealth Management acquired a new position in Jabil during the 1st quarter worth $28,000. Alaska Permanent Fund Corp acquired a new stake in Jabil in the 4th quarter valued at about $29,000. ORG Partners LLC purchased a new position in shares of Jabil in the 1st quarter valued at about $29,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Jabil in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Jabil Stock Performance

JBL traded up $0.03 on Friday, reaching $110.38. The company had a trading volume of 1,210,941 shares, compared to its average volume of 1,496,130. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 1.26. Jabil Inc. has a 1 year low of $100.18 and a 1 year high of $156.94. The stock has a market capitalization of $12.52 billion, a PE ratio of 10.04, a P/E/G ratio of 1.97 and a beta of 1.27. The stock has a 50-day moving average price of $115.12 and a 200-day moving average price of $125.47.

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

Jabil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Thursday, August 15th. Jabil’s payout ratio is currently 2.91%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on JBL shares. Barclays reduced their target price on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. StockNews.com raised shares of Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. lowered their target price on shares of Jabil from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, June 17th. Bank of America cut their price target on Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. Finally, UBS Group lowered their price objective on Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, June 21st. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $142.63.

Insider Transactions at Jabil

In related news, EVP Frederic E. Mccoy sold 1,250 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $116.42, for a total value of $145,525.00. Following the completion of the sale, the executive vice president now owns 112,753 shares in the company, valued at approximately $13,126,704.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Jabil news, SVP May Yee Yap sold 4,274 shares of Jabil stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total value of $500,228.96. Following the transaction, the senior vice president now directly owns 24,829 shares in the company, valued at approximately $2,905,986.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Frederic E. Mccoy sold 1,250 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $116.42, for a total value of $145,525.00. Following the sale, the executive vice president now owns 112,753 shares of the company’s stock, valued at approximately $13,126,704.26. The disclosure for this sale can be found here. Insiders own 2.62% of the company’s stock.

Jabil 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).