Truist Financial Corp Cuts Stock Holdings in Jabil Inc. (NYSE:JBL)

Truist Financial Corp reduced its stake in shares of Jabil Inc. (NYSE:JBL) by 16.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 27,318 shares of the technology company’s stock after selling 5,436 shares during the quarter. Truist Financial Corp’s holdings in Jabil were worth $3,480,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of JBL. FMR LLC grew its position in Jabil by 15.9% during the 3rd quarter. FMR LLC now owns 10,525,084 shares of the technology company’s stock worth $1,335,528,000 after acquiring an additional 1,440,857 shares during the last quarter. Artisan Partners Limited Partnership purchased a new position in shares of Jabil in the third quarter worth $124,319,000. Caisse DE Depot ET Placement DU Quebec bought a new stake in Jabil during the 3rd quarter valued at $57,818,000. Ceredex Value Advisors LLC raised its holdings in Jabil by 72,212.5% during the 4th quarter. Ceredex Value Advisors LLC now owns 289,250 shares of the technology company’s stock valued at $36,850,000 after buying an additional 288,850 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Jabil during the 3rd quarter valued at $35,172,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on JBL. Argus cut shares of Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Barclays lowered 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 lifted their price objective on Jabil from $141.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. One investment 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 stock currently has an average rating of “Buy” and an average price target of $144.50.

Jabil Stock Performance

Shares of JBL opened at $118.97 on Tuesday. The company has a 50-day simple moving average of $133.80 and a two-hundred day simple moving average of $129.96. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.17 and a quick ratio of 0.72. The firm has a market capitalization of $14.35 billion, a PE ratio of 10.21, a price-to-earnings-growth ratio of 1.25 and a beta of 1.42. Jabil Inc. has a one year low of $77.22 and a one year high of $156.94.

Jabil (NYSE:JBL) last released its earnings results on Friday, March 15th. The technology company reported $1.54 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 firm had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.91 billion. On average, analysts anticipate that Jabil Inc. will post 7.83 EPS for the current fiscal year.

Jabil Announces Dividend

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

Insider Transactions at Jabil

In related 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 transaction of $2,013,000.00. Following the completion of the transaction, 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 filing with the SEC, which can be accessed through this link. In other news, CEO Kenneth S. Wilson sold 15,000 shares of the stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Mark T. Mondello sold 50,000 shares of Jabil stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $126.09, for a total value of $6,304,500.00. Following the completion of the transaction, the chairman now directly owns 1,809,194 shares of the company’s stock, valued at approximately $228,121,271.46. The disclosure for this sale can be found here. Insiders have sold 75,877 shares of company stock valued at $9,824,383 in the last three months. 2.62% of the stock is currently owned by company insiders.

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).