Jabil Inc. (NYSE:JBL) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its position in Jabil Inc. (NYSE:JBL) by 82.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,198 shares of the technology company’s stock after selling 135,222 shares during the quarter. Retirement Systems of Alabama’s holdings in Jabil were worth $3,592,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Commonwealth Equity Services LLC grew its stake in shares of Jabil by 5.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 29,966 shares of the technology company’s stock valued at $3,802,000 after purchasing an additional 1,561 shares during the last quarter. Forsta AP Fonden acquired a new position in Jabil in the 3rd quarter valued at $3,553,000. Mackenzie Financial Corp raised its position in Jabil by 63.8% during the 3rd quarter. Mackenzie Financial Corp now owns 10,168 shares of the technology company’s stock worth $1,297,000 after buying an additional 3,960 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of Jabil by 9.0% in the 3rd quarter. Brighton Jones LLC now owns 2,620 shares of the technology company’s stock worth $332,000 after acquiring an additional 217 shares during the period. Finally, IFM Investors Pty Ltd purchased a new stake in shares of Jabil in the third quarter valued at about $3,183,000. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Jabil Stock Performance

Shares of JBL stock opened at $117.43 on Wednesday. The stock has a fifty day moving average price of $132.87 and a 200 day moving average price of $129.83. 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 stock has a market cap of $14.16 billion, a PE ratio of 10.08, a P/E/G ratio of 1.25 and a beta of 1.42. Jabil Inc. has a 1 year low of $77.22 and a 1 year 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 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. Sell-side analysts forecast that Jabil Inc. will post 7.83 earnings per share for the current fiscal year.

Jabil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 15th will be issued a $0.08 dividend. 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 presently 2.75%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on JBL. StockNews.com raised shares of Jabil from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. The Goldman Sachs Group raised their price target on Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a report on Monday, March 4th. Argus lowered Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Barclays cut their price objective on Jabil from $151.00 to $149.00 and set an “overweight” rating for the company in a research report on Monday, March 18th. One research 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. Based on data from MarketBeat, Jabil presently has a consensus rating of “Buy” and a consensus price target of $144.50.

Insider Transactions at Jabil

In related news, CEO Kenneth S. Wilson sold 15,000 shares of the company’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 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 is available through this link. In related news, CEO Kenneth S. Wilson sold 15,000 shares of Jabil 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 completion of the sale, the chief executive officer now owns 339,725 shares in the company, valued at approximately $45,591,095. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Mark T. Mondello sold 50,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $126.09, for a total transaction of $6,304,500.00. Following the completion of the transaction, the chairman now owns 1,809,194 shares in the company, valued at $228,121,271.46. The disclosure for this sale can be found here. Insiders sold a total of 75,877 shares of company stock valued at $9,824,383 in the last ninety days. Corporate insiders own 2.62% of the company’s stock.

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).