M&T Bank Corp Decreases Stake in Jabil Inc. (NYSE:JBL)

M&T Bank Corp reduced its position in Jabil Inc. (NYSE:JBL) by 26.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,527 shares of the technology company’s stock after selling 6,294 shares during the period. M&T Bank Corp’s holdings in Jabil were worth $2,233,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in JBL. Commonwealth Equity Services LLC lifted its position in shares of Jabil by 5.5% in the third quarter. Commonwealth Equity Services LLC now owns 29,966 shares of the technology company’s stock worth $3,802,000 after buying an additional 1,561 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Jabil by 63.8% in the 3rd quarter. Mackenzie Financial Corp now owns 10,168 shares of the technology company’s stock valued at $1,297,000 after acquiring an additional 3,960 shares during the last quarter. IFM Investors Pty Ltd bought a new position in shares of Jabil in the 3rd quarter valued at about $3,183,000. Advisor Partners II LLC lifted its holdings in shares of Jabil by 3.2% in the 3rd quarter. Advisor Partners II LLC now owns 4,938 shares of the technology company’s stock valued at $627,000 after acquiring an additional 153 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new position in shares of Jabil in the 3rd quarter valued at about $251,000. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Jabil Stock Performance

Shares of JBL stock opened at $117.53 on Thursday. The firm has a market cap of $14.17 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 1.25 and a beta of 1.42. The company’s 50 day moving average is $132.38 and its 200 day moving average is $129.74. 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 Inc. has a 52-week low of $77.43 and a 52-week high of $156.94.

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

Jabil Announces Dividend

The firm also recently disclosed 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 payout ratio is 2.75%.

Insiders Place Their Bets

In other Jabil news, CEO Kenneth S. Wilson sold 15,000 shares of Jabil stock in a transaction 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 transaction, 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 Securities & Exchange Commission, which is available through the SEC website. In other Jabil news, CEO Kenneth S. Wilson sold 15,000 shares of Jabil stock in a transaction 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 transaction, 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 Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark T. Mondello sold 50,000 shares of Jabil stock in a transaction on Tuesday, March 19th. The stock was 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 directly owns 1,809,194 shares in the company, valued at $228,121,271.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,877 shares of company stock valued at $9,824,383. 2.62% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on JBL. The Goldman Sachs Group increased their price target on shares of Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a report on Monday, March 4th. StockNews.com raised shares of Jabil from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Argus downgraded shares of Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Barclays decreased their price objective 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. One 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 stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target 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).