Allspring Global Investments Holdings LLC Sells 49,153 Shares of Jabil Inc. (NYSE:JBL)

Allspring Global Investments Holdings LLC lowered its stake in Jabil Inc. (NYSE:JBL) by 19.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 202,139 shares of the technology company’s stock after selling 49,153 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Jabil were worth $28,872,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of JBL. Edmp Inc. raised its stake in Jabil by 9.6% during the 4th quarter. Edmp Inc. now owns 3,959 shares of the technology company’s stock worth $570,000 after buying an additional 347 shares during the period. UNICOM Systems Inc. bought a new stake in shares of Jabil during the fourth quarter valued at approximately $2,216,000. Lightrock Netherlands B.V. acquired a new position in shares of Jabil during the fourth quarter worth approximately $13,521,000. Savant Capital LLC raised its position in shares of Jabil by 1.9% during the fourth quarter. Savant Capital LLC now owns 5,332 shares of the technology company’s stock worth $767,000 after purchasing an additional 99 shares during the period. Finally, Empirical Finance LLC lifted its holdings in shares of Jabil by 80.8% in the 4th quarter. Empirical Finance LLC now owns 10,198 shares of the technology company’s stock worth $1,467,000 after purchasing an additional 4,557 shares in the last quarter. Institutional investors and hedge funds own 93.39% of the company’s stock.

Insider Activity

In other news, Director Steven A. Raymund sold 20,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $151.30, for a total transaction of $3,026,000.00. Following the completion of the transaction, the director now owns 119,108 shares in the company, valued at approximately $18,021,040.40. This represents a 14.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John C. Plant sold 50,000 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $172.55, for a total value of $8,627,500.00. Following the completion of the sale, the director now owns 5,900 shares in the company, valued at $1,018,045. This represents a 89.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,400 shares of company stock valued at $12,804,458 in the last three months. Company insiders own 1.73% of the company’s stock.

Jabil Stock Performance

JBL stock opened at $169.60 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The firm has a market cap of $18.52 billion, a PE ratio of 16.26, a P/E/G ratio of 1.64 and a beta of 1.23. The business has a 50 day moving average of $153.88 and a 200-day moving average of $130.73. Jabil Inc. has a 12-month low of $95.85 and a 12-month high of $174.80.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Wednesday, December 18th. The technology company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.12. The firm had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $6.61 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The business’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.60 EPS. As a group, sell-side analysts expect that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date is Tuesday, February 18th. Jabil’s payout ratio is 3.07%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barclays upped their price objective on shares of Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $160.00 price target (up previously from $150.00) on shares of Jabil in a research report on Thursday, December 19th. StockNews.com lowered Jabil from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. The Goldman Sachs Group increased their price objective on Jabil from $136.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, UBS Group lifted their target price on Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Jabil presently has a consensus rating of “Moderate Buy” and a consensus target price of $153.17.

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).