EMC Capital Management Cuts Stock Position in Jabil Inc. (NYSE:JBL)

EMC Capital Management trimmed its holdings in shares of Jabil Inc. (NYSE:JBL) by 83.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 665 shares of the technology company’s stock after selling 3,369 shares during the period. EMC Capital Management’s holdings in Jabil were worth $89,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Jabil by 10.5% during the 4th quarter. Vanguard Group Inc. now owns 15,070,238 shares of the technology company’s stock valued at $1,919,948,000 after purchasing an additional 1,427,429 shares during the last quarter. Norges Bank purchased a new position in shares of Jabil in the 4th quarter worth $192,964,000. Artisan Partners Limited Partnership boosted its stake in shares of Jabil by 36.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,339,559 shares of the technology company’s stock worth $170,660,000 after buying an additional 359,818 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Jabil by 29.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,111,281 shares of the technology company’s stock worth $141,577,000 after buying an additional 249,889 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Jabil by 2.6% in the 4th quarter. California Public Employees Retirement System now owns 784,669 shares of the technology company’s stock worth $99,967,000 after buying an additional 19,611 shares during the last quarter. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

JBL has been the topic of a number of recent research reports. StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Barclays decreased their target price on Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. UBS Group decreased their target price on Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a 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 on the stock in a report on Friday, June 21st. Finally, JPMorgan Chase & Co. decreased their target price on Jabil from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, June 17th. Two investment 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.63.

Insiders Place Their Bets

In other Jabil news, EVP Frederic E. Mccoy sold 1,250 shares of the business’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 transaction of $145,525.00. Following the sale, the executive vice president now directly owns 112,753 shares of the company’s stock, valued at $13,126,704.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP May Yee Yap sold 4,274 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $2,905,986.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Frederic E. Mccoy sold 1,250 shares of the company’s stock in a transaction that occurred 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 directly owns 112,753 shares in the company, valued at approximately $13,126,704.26. The disclosure for this sale can be found here. 2.62% of the stock is currently owned by insiders.

Jabil Price Performance

NYSE:JBL opened at $99.62 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $11.30 billion, a P/E ratio of 9.06, a P/E/G ratio of 1.95 and a beta of 1.27. Jabil Inc. has a 12 month low of $96.77 and a 12 month high of $156.94. The business’s 50-day moving average is $114.02 and its 200 day moving average is $124.81.

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 company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.53 billion. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The firm’s revenue for the quarter was down 20.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.85 earnings per share. On average, equities research analysts forecast 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 will be paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.08 per share. The ex-dividend date is Thursday, August 15th. This represents a $0.32 annualized dividend and a yield of 0.32%. Jabil’s payout ratio is currently 2.91%.

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).