Russell Investments Group Ltd. Sells 8,708 Shares of Jabil Inc. (NYSE:JBL)

Russell Investments Group Ltd. cut its position in shares of Jabil Inc. (NYSE:JBL) by 7.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 110,581 shares of the technology company’s stock after selling 8,708 shares during the quarter. Russell Investments Group Ltd.’s holdings in Jabil were worth $14,088,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of JBL. Alaska Permanent Fund Corp bought a new position in shares of Jabil during the fourth quarter worth about $29,000. CVA Family Office LLC bought a new position in shares of Jabil during the fourth quarter worth about $36,000. Valley National Advisers Inc. bought a new position in shares of Jabil during the fourth quarter worth about $36,000. Hanseatic Management Services Inc. bought a new position in shares of Jabil during the third quarter worth about $48,000. Finally, Allworth Financial LP grew its holdings in shares of Jabil by 745.8% during the fourth quarter. Allworth Financial LP now owns 406 shares of the technology company’s stock worth $52,000 after buying an additional 358 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Kenneth S. Wilson sold 15,000 shares of Jabil 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 75,877 shares of company stock valued at $9,824,383. Insiders own 2.62% of the company’s stock.

Jabil Stock Performance

JBL opened at $117.19 on Friday. Jabil Inc. has a 12-month low of $75.48 and a 12-month high of $156.94. The stock has a market cap of $14.13 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 1.22 and a beta of 1.42. The business has a 50 day moving average of $134.24 and a 200-day moving average of $130.19. The company has a quick ratio of 0.72, a current ratio of 1.17 and a debt-to-equity ratio of 1.08.

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

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 15th will be given a $0.08 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. Jabil’s payout ratio is 2.75%.

Analyst Upgrades and Downgrades

JBL has been the subject of several recent research reports. StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Argus cut Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Barclays reduced their price target on Jabil from $151.00 to $149.00 and set an “overweight” rating for the company in a research report on Monday, March 18th. Finally, The Goldman Sachs Group increased their price target on Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, March 4th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock 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).