Federated Hermes Inc. Sells 172,149 Shares of Jabil Inc. (NYSE:JBL)

Federated Hermes Inc. trimmed its stake in Jabil Inc. (NYSE:JBL) by 78.5% in the 4th quarter, HoldingsChannel reports. The fund owned 47,010 shares of the technology company’s stock after selling 172,149 shares during the quarter. Federated Hermes Inc.’s holdings in Jabil were worth $5,989,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in JBL. CVA Family Office LLC bought a new position in shares of Jabil in the 4th quarter worth $36,000. Valley National Advisers Inc. acquired a new position in Jabil during the 4th quarter valued at about $36,000. Hanseatic Management Services Inc. acquired a new position in Jabil during the 3rd quarter valued at about $48,000. Ceredex Value Advisors LLC acquired a new position in Jabil during the 3rd quarter valued at about $51,000. Finally, Allworth Financial LP increased its position in Jabil by 745.8% during the 4th quarter. Allworth Financial LP now owns 406 shares of the technology company’s stock valued at $52,000 after buying an additional 358 shares in the last quarter. 93.39% of the stock is owned by institutional investors.

Jabil Stock Down 1.5 %

Shares of JBL stock opened at $118.48 on Friday. The stock’s 50-day simple moving average is $136.38 and its 200-day simple moving average is $130.86. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.72 and a current ratio of 1.17. The firm has a market capitalization of $14.29 billion, a PE ratio of 10.17, a P/E/G ratio of 1.29 and a beta of 1.40. Jabil Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $156.94.

Jabil (NYSE:JBL) last posted its earnings results on Friday, March 15th. The technology company reported $1.54 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.01). The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.91 billion. Jabil had a return on equity of 39.47% and a net margin of 4.70%. Equities analysts expect that Jabil Inc. will post 7.83 earnings per share for the current year.

Jabil Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Kenneth S. Wilson sold 15,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $134.20, for a total transaction of $2,013,000.00. Following the sale, the chief executive officer now directly owns 339,725 shares of the company’s stock, valued at $45,591,095. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Jabil news, CEO Kenneth S. Wilson sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $134.20, for a total value of $2,013,000.00. Following the sale, the chief executive officer now directly owns 339,725 shares of the company’s stock, valued at $45,591,095. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David M. Stout sold 31,300 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $123.12, for a total value of $3,853,656.00. Following the completion of the sale, the director now directly owns 67,300 shares in the company, valued at $8,285,976. The disclosure for this sale can be found here. Insiders have sold a total of 107,177 shares of company stock valued at $13,678,039 over the last ninety days. Company insiders own 2.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Barclays reduced their target price on Jabil from $151.00 to $149.00 and set an “overweight” rating on the stock in a research report on Monday, March 18th. StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday. Argus lowered Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, The Goldman Sachs Group increased their price objective on Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a report on Monday, March 4th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $144.50.

Jabil 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).