Jabil Inc. (NYSE:JBL) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System decreased its holdings in Jabil Inc. (NYSE:JBL) by 8.4% in the fourth quarter, Holdings Channel reports. The fund owned 212,983 shares of the technology company’s stock after selling 19,550 shares during the period. California Public Employees Retirement System’s holdings in Jabil were worth $30,648,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Norges Bank acquired a new stake in shares of Jabil in the fourth quarter valued at approximately $218,430,000. Two Sigma Advisers LP increased its stake in shares of Jabil by 406.5% in the 3rd quarter. Two Sigma Advisers LP now owns 722,800 shares of the technology company’s stock worth $86,613,000 after acquiring an additional 580,100 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Jabil during the 4th quarter worth $43,312,000. JPMorgan Chase & Co. boosted its position in shares of Jabil by 18.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company’s stock valued at $270,187,000 after acquiring an additional 288,806 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Jabil by 50.8% in the fourth quarter. Victory Capital Management Inc. now owns 627,041 shares of the technology company’s stock valued at $90,231,000 after purchasing an additional 211,168 shares during the period. 93.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Jabil

In related news, Director John C. Plant sold 50,000 shares of Jabil stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $172.55, for a total value of $8,627,500.00. Following the completion of the transaction, the director now owns 5,900 shares in the company, valued at $1,018,045. The trade was a 89.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher S. Holland sold 3,400 shares of the firm’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 completion of the sale, the director now owns 12,900 shares in the company, valued at $2,093,283. The trade was a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,400 shares of company stock worth $12,804,458. Company insiders own 1.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on JBL. JPMorgan Chase & Co. boosted their target price on shares of Jabil from $172.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, March 21st. The Goldman Sachs Group increased their price objective on Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a research report on Friday, March 21st. UBS Group increased their price target on Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Finally, Stifel Nicolaus restated a “buy” rating and issued a $160.00 price objective (up from $150.00) on shares of Jabil in a report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.50.

Jabil Price Performance

JBL opened at $138.87 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. The firm has a market cap of $15.16 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.65 and a beta of 1.19. The stock’s 50-day moving average price is $152.69 and its 200 day moving average price is $140.28. Jabil Inc. has a 12-month low of $95.85 and a 12-month high of $174.80.

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

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil’s payout ratio is currently 7.66%.

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).