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

Kentucky Retirement Systems lessened its holdings in shares of Jabil Inc. (NYSE:JBL) by 5.4% in the first quarter, Holdings Channel.com reports. The firm owned 9,686 shares of the technology company’s stock after selling 551 shares during the period. Kentucky Retirement Systems’ holdings in Jabil were worth $1,297,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Hyperion Capital Advisors LP acquired a new stake in Jabil during the 1st quarter valued at approximately $220,000. LRI Investments LLC acquired a new position in shares of Jabil in the 1st quarter worth approximately $322,000. Advisors Asset Management Inc. grew its position in shares of Jabil by 12.2% in the 1st quarter. Advisors Asset Management Inc. now owns 12,439 shares of the technology company’s stock worth $1,666,000 after acquiring an additional 1,355 shares in the last quarter. CreativeOne Wealth LLC grew its position in shares of Jabil by 239.2% in the 1st quarter. CreativeOne Wealth LLC now owns 10,116 shares of the technology company’s stock worth $1,355,000 after acquiring an additional 7,134 shares in the last quarter. Finally, Vident Advisory LLC grew its position in shares of Jabil by 26.4% in the 1st quarter. Vident Advisory LLC now owns 109,209 shares of the technology company’s stock worth $14,629,000 after acquiring an additional 22,826 shares in the last quarter. Institutional investors and hedge funds own 93.39% of the company’s stock.

Jabil Stock Performance

Jabil stock traded up $0.03 during mid-day trading on Friday, hitting $110.38. 1,210,941 shares of the company’s stock traded hands, compared to its average volume of 1,496,130. The firm has a 50 day moving average price of $115.12 and a 200 day moving average price of $125.47. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 1.26. The company has a market cap of $12.52 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 1.97 and a beta of 1.27. Jabil Inc. has a one year low of $100.18 and a one year high of $156.94.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Thursday, June 20th. The technology company reported $1.89 EPS for the quarter, topping 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 company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.53 billion. During the same quarter in the previous year, the business earned $1.85 EPS. The company’s quarterly revenue was down 20.2% compared to the same quarter last year. On average, equities analysts forecast that Jabil Inc. will post 7.86 EPS for the current year.

Jabil Announces Dividend

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

Insider Buying and Selling

In related news, EVP Frederic E. Mccoy sold 1,250 shares of Jabil stock in a transaction 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 transaction, the executive vice president now directly owns 112,753 shares in the company, valued at approximately $13,126,704.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP May Yee Yap sold 4,274 shares of Jabil stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total transaction of $500,228.96. Following the transaction, the senior vice president now owns 24,829 shares in the company, valued at $2,905,986.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Frederic E. Mccoy sold 1,250 shares of Jabil 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 transaction, the executive vice president now owns 112,753 shares in the company, 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.

Analysts Set New Price Targets

Several brokerages have recently commented on JBL. StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Barclays decreased their target price on Jabil from $149.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. Bank of America decreased their target price on Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a research report on Friday, June 21st. JPMorgan Chase & Co. cut their price target on Jabil from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, June 17th. Finally, UBS Group cut their price target on Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, June 21st. Two equities research analysts have 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, Jabil presently has an average rating of “Moderate Buy” and an average target price of $142.63.

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).