Jabil Inc. (NYSE:JBL) Stake Lowered by Parallel Advisors LLC

Parallel Advisors LLC cut its stake in shares of Jabil Inc. (NYSE:JBL) by 6.7% in the 4th quarter, Holdings Channel reports. The firm owned 4,297 shares of the technology company’s stock after selling 308 shares during the quarter. Parallel Advisors LLC’s holdings in Jabil were worth $618,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Cibc World Markets Corp boosted its position in shares of Jabil by 15.6% during the fourth quarter. Cibc World Markets Corp now owns 17,811 shares of the technology company’s stock worth $2,563,000 after buying an additional 2,401 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Jabil during the fourth quarter worth approximately $3,375,000. Frank Rimerman Advisors LLC acquired a new position in shares of Jabil during the fourth quarter worth approximately $221,000. Achmea Investment Management B.V. boosted its position in shares of Jabil by 1.7% during the fourth quarter. Achmea Investment Management B.V. now owns 40,208 shares of the technology company’s stock worth $5,786,000 after buying an additional 691 shares during the period. Finally, Avantax Advisory Services Inc. boosted its position in shares of Jabil by 58.5% during the fourth quarter. Avantax Advisory Services Inc. now owns 3,201 shares of the technology company’s stock worth $461,000 after buying an additional 1,181 shares during the period. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Jabil news, Director Christopher S. Holland sold 3,400 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $162.27, for a total transaction of $551,718.00. Following the sale, the director now directly owns 12,900 shares of the company’s stock, valued at $2,093,283. The trade was a 20.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John C. Plant sold 50,000 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $172.55, for a total transaction of $8,627,500.00. Following the completion of the transaction, the director now directly owns 5,900 shares in the company, valued at $1,018,045. This trade represents a 89.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,400 shares of company stock worth $12,804,458. Insiders own 1.73% of the company’s stock.

Jabil Price Performance

Shares of NYSE:JBL opened at $143.69 on Friday. Jabil Inc. has a one year low of $95.85 and a one year high of $174.80. The stock has a fifty day moving average of $156.14 and a 200-day moving average of $137.66. The company has a market capitalization of $15.69 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.65 and a beta of 1.19. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Thursday, March 20th. The technology company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.11. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The company had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter in the prior year, the firm earned $1.68 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. As a group, equities analysts anticipate that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.08 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.22%. Jabil’s dividend payout ratio (DPR) is presently 3.07%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Stifel Nicolaus reiterated a “buy” rating and set a $160.00 price objective (up from $150.00) on shares of Jabil in a research report on Thursday, December 19th. UBS Group upped their target price on Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. StockNews.com downgraded Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Barclays upped their target price on Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Finally, The Goldman Sachs Group upped their target price on Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $158.83.

Jabil Company 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).