Connor Clark & Lunn Investment Management Ltd. Sells 88,244 Shares of Jabil Inc. (NYSE:JBL)

Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of Jabil Inc. (NYSE:JBL) by 79.7% in the fourth quarter, Holdings Channel reports. The fund owned 22,457 shares of the technology company’s stock after selling 88,244 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Jabil were worth $3,232,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of JBL. CIBC Asset Management Inc grew its stake in shares of Jabil by 2.8% in the 3rd quarter. CIBC Asset Management Inc now owns 16,689 shares of the technology company’s stock worth $2,000,000 after buying an additional 462 shares in the last quarter. Royce & Associates LP grew its position in Jabil by 1.1% in the third quarter. Royce & Associates LP now owns 74,020 shares of the technology company’s stock worth $8,870,000 after acquiring an additional 786 shares in the last quarter. Empirical Finance LLC increased its stake in Jabil by 5.6% during the third quarter. Empirical Finance LLC now owns 5,641 shares of the technology company’s stock worth $676,000 after acquiring an additional 297 shares during the last quarter. Meeder Asset Management Inc. raised its position in Jabil by 72.5% during the third quarter. Meeder Asset Management Inc. now owns 8,635 shares of the technology company’s stock valued at $1,035,000 after purchasing an additional 3,628 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Jabil in the 3rd quarter valued at approximately $365,000. 93.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on JBL. Stifel Nicolaus reissued a “buy” rating and set a $160.00 target price (up previously from $150.00) on shares of Jabil in a research report on Thursday, December 19th. Barclays increased their target price on shares of Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. The Goldman Sachs Group lifted their price target on shares of Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. UBS Group increased their price objective on shares of Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Finally, StockNews.com lowered Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $158.83.

Jabil Price Performance

Jabil stock opened at $138.29 on Tuesday. The stock has a market cap of $15.10 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 1.65 and a beta of 1.19. The firm has a 50-day moving average of $156.99 and a two-hundred day moving average of $137.42. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $174.80. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72.

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, topping the consensus estimate of $1.88 by $0.12. The company had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. Jabil’s revenue was down 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.60 earnings per share. On average, research analysts forecast that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.08 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.23%. Jabil’s dividend payout ratio is currently 3.07%.

Insider Activity at Jabil

In related news, Director Christopher S. Holland sold 3,400 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $162.27, for a total value of $551,718.00. Following the completion of the transaction, the director now owns 12,900 shares of the company’s stock, valued at $2,093,283. The trade was a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John C. Plant sold 50,000 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $172.55, for a total value of $8,627,500.00. Following the sale, the director now owns 5,900 shares of the company’s stock, valued at approximately $1,018,045. This represents a 89.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,400 shares of company stock worth $12,804,458 over the last three months. 1.73% of the stock is owned by corporate insiders.

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).