Jabil Inc. (NYSE:JBL) Stake Lowered by Bridgewater Associates LP

Bridgewater Associates LP decreased its stake in Jabil Inc. (NYSE:JBL) by 26.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,914 shares of the technology company’s stock after selling 24,720 shares during the period. Bridgewater Associates LP owned 0.06% of Jabil worth $8,378,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC boosted its holdings in shares of Jabil by 39.7% during the first quarter. Tidal Investments LLC now owns 14,282 shares of the technology company’s stock valued at $1,913,000 after acquiring an additional 4,056 shares during the period. Comerica Bank grew its position in Jabil by 68.5% in the 1st quarter. Comerica Bank now owns 42,709 shares of the technology company’s stock worth $5,721,000 after purchasing an additional 17,355 shares during the last quarter. iA Global Asset Management Inc. acquired a new stake in shares of Jabil in the first quarter valued at approximately $233,000. Swedbank AB bought a new stake in shares of Jabil during the first quarter valued at approximately $5,680,000. Finally, Atria Investments Inc boosted its position in shares of Jabil by 11.2% during the first quarter. Atria Investments Inc now owns 12,051 shares of the technology company’s stock worth $1,614,000 after buying an additional 1,211 shares during the period. Institutional investors and hedge funds own 93.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on JBL shares. Stifel Nicolaus raised their target price on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Barclays lifted their price objective on shares of Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. StockNews.com upgraded shares of Jabil from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. JPMorgan Chase & Co. dropped their price target on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Finally, Bank of America increased their price objective on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Jabil currently has an average rating of “Moderate Buy” and an average price target of $143.50.

Jabil Stock Up 0.5 %

NYSE JBL opened at $133.33 on Friday. 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 $15.05 billion, a P/E ratio of 12.10, a PEG ratio of 1.58 and a beta of 1.24. The company’s 50 day simple moving average is $125.42 and its 200 day simple moving average is $116.15. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72.

Jabil (NYSE:JBL) last posted its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.08. The company had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.59 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The firm’s revenue was down 17.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.34 earnings per share. Equities research analysts expect that Jabil Inc. will post 7.84 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. Jabil’s dividend payout ratio is currently 2.90%.

Insiders Place Their Bets

In related news, EVP Frederic E. Mccoy sold 4,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $118.70, for a total value of $474,800.00. Following the completion of the sale, the executive vice president now directly owns 108,753 shares of the company’s stock, valued at approximately $12,908,981.10. This represents a 3.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven A. Raymund sold 20,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $124.70, for a total value of $2,494,000.00. Following the completion of the transaction, the director now owns 139,108 shares in the company, valued at $17,346,767.60. This represents a 12.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,689 shares of company stock worth $5,377,431. Company 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).