Jabil Inc. (NYSE:JBL) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its position in Jabil Inc. (NYSE:JBLGet Rating) by 2.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,128 shares of the technology company’s stock after selling 345 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Jabil were worth $855,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Comerica Bank raised its holdings in shares of Jabil by 7.5% in the 1st quarter. Comerica Bank now owns 71,730 shares of the technology company’s stock valued at $4,275,000 after purchasing an additional 5,026 shares in the last quarter. SG Americas Securities LLC raised its stake in Jabil by 20.6% during the 1st quarter. SG Americas Securities LLC now owns 58,595 shares of the technology company’s stock worth $3,617,000 after acquiring an additional 9,989 shares in the last quarter. Savant Capital LLC raised its stake in Jabil by 6.3% during the 2nd quarter. Savant Capital LLC now owns 5,529 shares of the technology company’s stock worth $283,000 after acquiring an additional 330 shares in the last quarter. Paradiem LLC raised its stake in Jabil by 5.1% during the 2nd quarter. Paradiem LLC now owns 59,431 shares of the technology company’s stock worth $3,043,000 after acquiring an additional 2,886 shares in the last quarter. Finally, Xponance Inc. raised its stake in Jabil by 2.8% during the 2nd quarter. Xponance Inc. now owns 28,047 shares of the technology company’s stock worth $1,436,000 after acquiring an additional 752 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Jabil Trading Up 1.3 %

Shares of Jabil stock opened at $63.55 on Wednesday. Jabil Inc. has a 1 year low of $48.80 and a 1 year high of $72.11. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.57 and a current ratio of 1.02. The company has a market capitalization of $8.56 billion, a P/E ratio of 9.20, a PEG ratio of 0.74 and a beta of 1.36. The company’s fifty day moving average is $60.28 and its two-hundred day moving average is $58.62.

Jabil (NYSE:JBLGet Rating) last issued its quarterly earnings data on Tuesday, September 27th. The technology company reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.20. Jabil had a net margin of 2.98% and a return on equity of 42.59%. The company had revenue of $9.03 billion for the quarter, compared to the consensus estimate of $8.40 billion. During the same period last year, the firm posted $1.16 EPS. Jabil’s revenue for the quarter was up 21.9% on a year-over-year basis. Analysts forecast that Jabil Inc. will post 7.2 earnings per share for the current year.

Jabil announced that its Board of Directors has approved a stock buyback plan on Tuesday, September 27th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to reacquire up to 12.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Jabil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Tuesday, November 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.50%. The ex-dividend date is Monday, November 14th. Jabil’s payout ratio is 4.63%.

Insider Activity

In other news, CEO Steven D. Borges sold 19,695 shares of Jabil stock in a transaction dated Tuesday, October 18th. The shares were sold at an average price of $62.00, for a total value of $1,221,090.00. Following the sale, the chief executive officer now owns 187,100 shares of the company’s stock, valued at $11,600,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Steven D. Borges sold 19,695 shares of Jabil stock in a transaction dated Tuesday, October 18th. The shares were sold at an average price of $62.00, for a total value of $1,221,090.00. Following the sale, the chief executive officer now owns 187,100 shares of the company’s stock, valued at $11,600,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robert L. Katz sold 7,493 shares of Jabil stock in a transaction dated Thursday, October 20th. The shares were sold at an average price of $61.30, for a total transaction of $459,320.90. Following the completion of the sale, the executive vice president now directly owns 149,662 shares in the company, valued at approximately $9,174,280.60. The disclosure for this sale can be found here. Insiders have sold a total of 67,785 shares of company stock valued at $4,325,878 over the last quarter. Corporate insiders own 2.59% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on JBL. StockNews.com began coverage on shares of Jabil in a research note on Wednesday, October 12th. They set a “strong-buy” rating on the stock. Raymond James cut their price target on shares of Jabil from $80.00 to $72.00 in a research note on Wednesday, September 28th. Finally, Credit Suisse Group started coverage on shares of Jabil in a research note on Tuesday, August 16th. They set an “outperform” rating and a $74.00 price target on the stock. Three equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Strong Buy” and a consensus price target of $74.40.

About Jabil

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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).

Further Reading

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Institutional Ownership by Quarter for Jabil (NYSE:JBL)

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