Seven Eight Capital LP Sells 62,147 Shares of Jabil Inc. (NYSE:JBL)

Seven Eight Capital LP decreased its position in shares of Jabil Inc. (NYSE:JBLFree Report) by 89.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,956 shares of the technology company’s stock after selling 62,147 shares during the quarter. Seven Eight Capital LP’s holdings in Jabil were worth $886,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings 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 purchasing an additional 1,440,857 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Jabil by 0.7% during the 3rd quarter. Wellington Management Group LLP now owns 5,392,355 shares of the technology company’s stock worth $684,236,000 after buying an additional 36,560 shares during the period. Norges Bank acquired a new stake in shares of Jabil during the 4th quarter worth approximately $192,964,000. Artisan Partners Limited Partnership grew its position in shares of Jabil by 36.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,339,559 shares of the technology company’s stock worth $170,660,000 after buying an additional 359,818 shares during the period. Finally, Northern Trust Corp grew its position in shares of Jabil by 13.8% during the 3rd quarter. Northern Trust Corp now owns 1,162,838 shares of the technology company’s stock worth $147,553,000 after buying an additional 141,383 shares during the period. Institutional investors own 93.39% of the company’s stock.

Jabil Price Performance

NYSE JBL opened at $113.88 on Monday. The company has a market cap of $13.73 billion, a PE ratio of 9.78, a price-to-earnings-growth ratio of 1.41 and a beta of 1.35. Jabil Inc. has a 52 week low of $93.40 and a 52 week high of $156.94. The company has a quick ratio of 0.72, a current ratio of 1.17 and a debt-to-equity ratio of 1.08. The firm’s 50-day simple moving average is $122.56 and its two-hundred day simple moving average is $128.27.

Jabil (NYSE:JBLGet Free Report) last released its quarterly earnings data on Friday, March 15th. The technology company reported $1.54 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $6.91 billion. Research analysts predict that Jabil Inc. will post 7.83 earnings per share for the current year.

Jabil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Tuesday, May 14th. Jabil’s payout ratio is currently 2.75%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. StockNews.com raised shares of Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Barclays reduced their price target on shares of Jabil from $151.00 to $149.00 and set an “overweight” rating for the company in a research report on Monday, March 18th. Argus downgraded shares of Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, The Goldman Sachs Group lifted their price target on shares of Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, March 4th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Jabil presently has an average rating of “Buy” and a consensus price target of $144.50.

View Our Latest Stock Report on Jabil

Insider Buying and Selling at Jabil

In other news, Chairman Mark T. Mondello sold 50,000 shares of the stock in a transaction that occurred 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 sale, the chairman now owns 1,809,194 shares of the company’s stock, valued at $228,121,271.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Chairman Mark T. Mondello sold 50,000 shares of the stock in a transaction that occurred 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 sale, the chairman now owns 1,809,194 shares of the company’s stock, valued at $228,121,271.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP May Yee Yap sold 7,877 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $139.65, for a total value of $1,100,023.05. Following 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 disclosure for this sale can be found here. Insiders have sold 75,877 shares of company stock worth $9,824,383 over the last ninety days. Insiders own 2.62% of the company’s stock.

Jabil Company Profile

(Free Report)

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).

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Institutional Ownership by Quarter for Jabil (NYSE:JBL)

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