Symmetry Partners LLC Cuts Stock Position in Jabil Inc. (NYSE:JBL)

Symmetry Partners LLC trimmed its position in shares of Jabil Inc. (NYSE:JBL) by 53.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,848 shares of the technology company’s stock after selling 4,369 shares during the period. Symmetry Partners LLC’s holdings in Jabil were worth $419,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of JBL. Benjamin Edwards Inc. bought a new position in Jabil during the first quarter valued at approximately $25,000. Activest Wealth Management purchased a new stake in shares of Jabil in the 1st quarter valued at $28,000. Alaska Permanent Fund Corp bought a new position in shares of Jabil during the 4th quarter valued at $29,000. ORG Partners LLC purchased a new position in Jabil in the 1st quarter worth $29,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in Jabil in the fourth quarter worth $32,000. Institutional investors own 93.39% of the company’s stock.

Insider Buying and Selling at Jabil

In other Jabil 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 transaction of $145,525.00. Following the completion of the transaction, the executive vice president now owns 112,753 shares in the company, valued at $13,126,704.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP May Yee Yap sold 4,274 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total value of $500,228.96. Following the completion of the sale, the senior vice president now directly owns 24,829 shares of the company’s stock, valued at $2,905,986.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 transaction 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

JBL has been the subject of several analyst reports. UBS Group dropped their target price on Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, June 21st. Bank of America dropped their price objective on Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Friday, June 21st. Barclays decreased their target price on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a research note 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. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Jabil from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, June 17th. Two investment 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $142.63.

Jabil Trading Up 0.2 %

Shares of JBL traded up $0.24 during trading hours on Friday, reaching $102.13. 678,549 shares of the company traded hands, compared to its average volume of 1,481,743. Jabil Inc. has a 12 month low of $95.85 and a 12 month high of $156.94. The company has a market capitalization of $11.59 billion, a price-to-earnings ratio of 9.30, a price-to-earnings-growth ratio of 1.95 and a beta of 1.27. The company’s fifty day moving average price is $112.16 and its two-hundred day moving average price is $123.97. 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 (NYSE:JBL) last issued its quarterly earnings results on Thursday, June 20th. The technology company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The company 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 firm’s revenue for the quarter was down 20.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.85 earnings per share. Equities research analysts predict that Jabil Inc. will post 7.86 earnings per share for the current fiscal year.

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders 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 yield of 0.31%. The ex-dividend date of this dividend is Thursday, August 15th. Jabil’s dividend payout ratio (DPR) is presently 2.91%.

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).