Hsbc Holdings PLC Sells 8,178 Shares of Jabil Inc. (NYSE:JBL)

Hsbc Holdings PLC cut its stake in Jabil Inc. (NYSE:JBL – Get Rating) by 17.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,029 shares of the technology company’s stock after selling 8,178 shares during the period. Hsbc Holdings PLC’s holdings in Jabil were worth $2,215,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Maven Securities LTD purchased a new stake in Jabil in the third quarter worth about $234,000. Quadrant Capital Group LLC lifted its holdings in shares of Jabil by 53.6% during the third quarter. Quadrant Capital Group LLC now owns 3,488 shares of the technology company’s stock valued at $201,000 after purchasing an additional 1,217 shares during the last quarter. WINTON GROUP Ltd purchased a new position in shares of Jabil during the third quarter valued at approximately $813,000. Seven Eight Capital LP purchased a new position in shares of Jabil during the third quarter valued at approximately $523,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Jabil by 162.1% during the third quarter. Tower Research Capital LLC TRC now owns 20,210 shares of the technology company’s stock valued at $1,166,000 after purchasing an additional 12,499 shares during the last quarter. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

JBL has been the subject of several analyst reports. Citigroup raised their price target on shares of Jabil from $80.00 to $85.00 in a research report on Friday, December 16th. UBS Group assumed coverage on shares of Jabil in a research report on Tuesday, December 13th. They set a “neutral” rating and a $76.00 price objective for the company. Credit Suisse Group lifted their target price on shares of Jabil from $90.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, February 21st. Finally, StockNews.com upgraded shares of Jabil from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 23rd. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Jabil currently has an average rating of “Buy” and a consensus target price of $82.40.

Insider Activity

In other news, CEO Frederic E. Mccoy sold 1,070 shares of the company’s stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $71.96, for a total transaction of $76,997.20. Following the sale, the chief executive officer now directly owns 117,365 shares in the company, valued at approximately $8,445,585.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Frederic E. Mccoy sold 1,070 shares of the company’s stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $71.96, for a total transaction of $76,997.20. Following the sale, the chief executive officer now directly owns 117,365 shares in the company, valued at approximately $8,445,585.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Francis Mckay sold 1,500 shares of the company’s stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $75.00, for a total transaction of $112,500.00. Following the transaction, the senior vice president now owns 52,281 shares in the company, valued at $3,921,075. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,632 shares of company stock worth $16,094,489. 2.75% of the stock is currently owned by corporate insiders.

Jabil Stock Up 0.2 %

Shares of JBL stock opened at $83.51 on Tuesday. The stock has a market cap of $11.13 billion, a P/E ratio of 12.12, a PEG ratio of 0.89 and a beta of 1.42. Jabil Inc. has a 52 week low of $48.80 and a 52 week high of $84.92. The company has a quick ratio of 0.57, a current ratio of 1.02 and a debt-to-equity ratio of 1.02. The company’s fifty day simple moving average is $76.95 and its two-hundred day simple moving average is $68.26.

Jabil (NYSE:JBL – Get Rating) last announced its quarterly earnings results on Thursday, December 15th. The technology company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.28). The company had revenue of $9.64 billion during the quarter, compared to analysts’ expectations of $9.28 billion. Jabil had a return on equity of 40.43% and a net margin of 2.83%. Analysts predict that Jabil Inc. will post 7.81 EPS for the current fiscal year.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 2nd. Stockholders of record on Wednesday, February 15th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Tuesday, February 14th. Jabil’s dividend payout ratio is 4.64%.

Jabil Company Profile

(Get Rating)

Jabil, Inc engages in the provision of electronic manufacturing services and solutions. It offers electronics design, production, product management, and repair services to companies in the automotive and transportation, capital equipment, consumer lifestyles and wearable technologies, computing and storage, defense and aerospace, digital home, healthcare, industrial and energy, mobility, networking and telecommunications, packaging, point of sale, and printing industries.