State Treasurer State of Michigan trimmed its stake in shares of Jabil Inc (NYSE:JBL) by 5.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 63,500 shares of the technology company’s stock after selling 3,900 shares during the quarter. State Treasurer State of Michigan’s holdings in Jabil were worth $1,667,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. PNC Financial Services Group Inc. increased its stake in Jabil by 17.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,607 shares of the technology company’s stock worth $281,000 after acquiring an additional 1,413 shares during the last quarter. Stifel Financial Corp increased its stake in Jabil by 8.1% in the 2nd quarter. Stifel Financial Corp now owns 21,572 shares of the technology company’s stock worth $630,000 after acquiring an additional 1,608 shares during the last quarter. Advisor Group Inc. increased its stake in Jabil by 68.2% in the 2nd quarter. Advisor Group Inc. now owns 5,765 shares of the technology company’s stock worth $168,000 after acquiring an additional 2,337 shares during the last quarter. Sterling Capital Management LLC increased its stake in Jabil by 7.5% in the 2nd quarter. Sterling Capital Management LLC now owns 34,142 shares of the technology company’s stock worth $997,000 after acquiring an additional 2,392 shares during the last quarter. Finally, PGGM Investments increased its stake in Jabil by 2.3% in the 3rd quarter. PGGM Investments now owns 115,712 shares of the technology company’s stock worth $3,304,000 after acquiring an additional 2,621 shares during the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.
A number of brokerages have weighed in on JBL. Zacks Investment Research lowered Jabil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 28th. ValuEngine lowered Jabil from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 4th. Argus upgraded Jabil from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Monday, December 18th. Raymond James Financial restated a “hold” rating on shares of Jabil in a research note on Thursday, December 14th. Finally, Goldman Sachs Group decreased their target price on Jabil to $24.00 and set a “sell” rating on the stock in a research note on Friday, January 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $32.27.
Jabil Inc (NYSE:JBL) opened at $26.13 on Thursday. Jabil Inc has a fifty-two week low of $23.70 and a fifty-two week high of $31.70. The company has a quick ratio of 0.50, a current ratio of 0.95 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $4,526.34, a PE ratio of 45.84, a PEG ratio of 1.04 and a beta of 0.53.
Jabil (NYSE:JBL) last posted its quarterly earnings data on Thursday, December 14th. The technology company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. Jabil had a return on equity of 12.95% and a net margin of 0.54%. The firm had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.50 billion. During the same period in the prior year, the business earned $0.69 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. research analysts anticipate that Jabil Inc will post 2.06 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Wednesday, February 14th. Jabil’s payout ratio is currently 56.14%.
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Jabil Company Profile
Jabil Inc, formerly Jabil Circuit, Inc, provides electronic manufacturing services and solutions throughout the world. The Company operates in two segments, which include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The Company’s EMS segment is focused on leveraging information technology (IT), supply chain design and engineering, technologies centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a range of markets.
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