Mutual of America Capital Management LLC Reduces Stock Position in Jabil Inc. (NYSE:JBL)

Mutual of America Capital Management LLC reduced its position in shares of Jabil Inc. (NYSE:JBL) by 79.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 17,107 shares of the technology company’s stock after selling 68,099 shares during the period. Mutual of America Capital Management LLC’s holdings in Jabil were worth $2,179,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Amundi lifted its holdings in Jabil by 419.8% in the fourth quarter. Amundi now owns 421 shares of the technology company’s stock worth $32,000 after buying an additional 340 shares during the period. CVA Family Office LLC purchased a new stake in Jabil in the fourth quarter worth about $36,000. Valley National Advisers Inc. purchased a new stake in Jabil in the fourth quarter worth about $36,000. Zions Bancorporation N.A. purchased a new stake in Jabil in the first quarter worth about $40,000. Finally, Natixis purchased a new stake in Jabil in the fourth quarter worth about $44,000. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on JBL. StockNews.com lowered shares of Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. Barclays decreased their target price on shares of Jabil from $151.00 to $149.00 and set an “overweight” rating for the company in a research note on Monday, March 18th. The Goldman Sachs Group raised their target price on shares of Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Finally, Argus downgraded shares of Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Jabil has a consensus rating of “Moderate Buy” and a consensus price target of $144.50.

Insiders Place Their Bets

In other Jabil news, CEO Kenneth S. Wilson sold 15,000 shares of Jabil stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $134.20, for a total value of $2,013,000.00. Following the completion of the sale, the chief executive officer now owns 339,725 shares of the company’s stock, valued at approximately $45,591,095. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Jabil news, CEO Kenneth S. Wilson sold 15,000 shares of Jabil stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $134.20, for a total value of $2,013,000.00. Following the completion of the sale, the chief executive officer now owns 339,725 shares of the company’s stock, valued at approximately $45,591,095. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP May Yee Yap sold 7,877 shares of Jabil stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $139.65, for a total transaction of $1,100,023.05. Following the completion of the sale, the senior vice president now directly owns 29,006 shares of the company’s stock, valued at approximately $4,050,687.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,177 shares of company stock valued at $13,678,039. Company insiders own 2.62% of the company’s stock.

Jabil Price Performance

Shares of JBL opened at $118.75 on Friday. The company has a market capitalization of $14.32 billion, a P/E ratio of 10.19, a price-to-earnings-growth ratio of 1.38 and a beta of 1.40. The company has a quick ratio of 0.72, a current ratio of 1.17 and a debt-to-equity ratio of 1.08. The firm has a 50 day moving average of $138.03 and a 200 day moving average of $131.15. Jabil Inc. has a twelve month low of $75.48 and a twelve month high of $156.94.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Friday, March 15th. The technology company reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.01). The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.91 billion. Jabil had a net margin of 4.70% and a return on equity of 39.47%. As a group, equities research analysts anticipate that Jabil Inc. will post 7.83 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Wednesday, May 15th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. The ex-dividend date is Tuesday, May 14th. Jabil’s dividend payout ratio (DPR) is currently 2.75%.

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).