New York State Teachers Retirement System Trims Stake in Jabil Inc. (NYSE:JBL)

New York State Teachers Retirement System cut its position in shares of Jabil Inc. (NYSE:JBL) by 10.6% in the second quarter, Holdings Channel.com reports. The firm owned 145,889 shares of the technology company’s stock after selling 17,250 shares during the quarter. New York State Teachers Retirement System’s holdings in Jabil were worth $15,871,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in JBL. Benjamin Edwards Inc. purchased a new position in shares of Jabil during the first quarter valued at approximately $25,000. Activest Wealth Management bought a new position in Jabil in the 1st quarter valued at $28,000. ORG Partners LLC purchased a new stake in Jabil in the first quarter worth $29,000. Alaska Permanent Fund Corp bought a new stake in shares of Jabil during the fourth quarter worth $29,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Jabil during the fourth quarter worth $32,000. 93.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at Jabil

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

Jabil Stock Up 1.5 %

Shares of JBL traded up $1.62 during trading hours on Friday, hitting $108.76. The company had a trading volume of 691,522 shares, compared to its average volume of 1,443,617. 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 $12.34 billion, a PE ratio of 9.87, a price-to-earnings-growth ratio of 1.95 and a beta of 1.27. Jabil Inc. has a one year low of $95.85 and a one year high of $156.94. The company’s fifty day moving average price is $110.17 and its two-hundred day moving average price is $122.71.

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

Jabil Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Thursday, August 15th. Jabil’s dividend 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).