Handelsinvest Investeringsforvaltning Sells 1,516 Shares of Jabil Inc. (NYSE:JBL)

Handelsinvest Investeringsforvaltning decreased its position in shares of Jabil Inc. (NYSE:JBLFree Report) by 34.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,919 shares of the technology company’s stock after selling 1,516 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Jabil were worth $391,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Alaska Permanent Fund Corp purchased a new position in shares of Jabil during the 4th quarter worth approximately $29,000. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Jabil during the 4th quarter worth approximately $32,000. Riverview Trust Co purchased a new position in shares of Jabil during the 1st quarter worth approximately $33,000. CVA Family Office LLC purchased a new position in shares of Jabil during the 4th quarter worth approximately $36,000. Finally, Valley National Advisers Inc. purchased a new position in shares of Jabil during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Jabil Price Performance

NYSE JBL opened at $110.10 on Thursday. Jabil Inc. has a 1-year low of $100.18 and a 1-year high of $156.94. The business’s fifty day moving average price is $116.76 and its 200-day moving average price is $127.37. The stock has a market capitalization of $13.28 billion, a price-to-earnings ratio of 10.02, a PEG ratio of 1.94 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.74.

Jabil (NYSE:JBLGet Free Report) last announced its earnings results on Thursday, June 20th. The technology company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.53 billion. During the same period last year, the firm earned $1.85 EPS. Jabil’s revenue for the quarter was down 20.2% compared to the same quarter last year. On average, equities analysts predict that Jabil Inc. will post 7.86 earnings per share for the current year.

Jabil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.29%. Jabil’s payout ratio is 2.91%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on JBL. UBS Group cut their price target on Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, June 21st. Barclays cut their price target on Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Argus downgraded Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Bank of America cut their price target on Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. Finally, StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Jabil currently has a consensus rating of “Moderate Buy” and an average target price of $142.63.

Check Out Our Latest Research Report on JBL

Insider Activity

In other news, CEO Kenneth S. Wilson sold 15,000 shares of the firm’s 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 transaction, the chief executive officer now owns 339,725 shares in the company, valued at $45,591,095. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 value of $2,013,000.00. Following the completion of the transaction, the chief executive officer now owns 339,725 shares in the company, valued at $45,591,095. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP May Yee Yap sold 7,877 shares of Jabil stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $139.65, for a total value of $1,100,023.05. Following the completion of the transaction, the senior vice president now 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. Company insiders own 2.62% of the company’s stock.

About Jabil

(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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