Nuveen Asset Management LLC lessened its holdings in shares of Jabil Inc (NYSE:JBL) by 8.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,014,795 shares of the technology company’s stock after selling 92,750 shares during the quarter. Nuveen Asset Management LLC owned 0.67% of Jabil worth $32,555,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC bought a new stake in Jabil during the 2nd quarter valued at $25,000. Captrust Financial Advisors bought a new stake in shares of Jabil in the 2nd quarter worth $103,000. Tower Research Capital LLC TRC grew its stake in shares of Jabil by 22,210.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 6,693 shares of the technology company’s stock worth $165,000 after acquiring an additional 6,663 shares in the last quarter. Profund Advisors LLC bought a new stake in shares of Jabil in the 2nd quarter worth $202,000. Finally, Flaharty Asset Management LLC bought a new stake in shares of Jabil in the 2nd quarter worth $211,000. Institutional investors and hedge funds own 89.50% of the company’s stock.
Several analysts have recently issued reports on JBL shares. Zacks Investment Research upgraded shares of Jabil from a “sell” rating to a “hold” rating and set a $36.00 target price for the company in a research note on Monday, August 24th. JPMorgan Chase & Co. upped their target price on shares of Jabil from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Royal Bank of Canada upped their target price on shares of Jabil from $30.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Monday, June 22nd. Goldman Sachs Group upgraded shares of Jabil from a “neutral” rating to a “buy” rating and upped their target price for the stock from $36.00 to $40.00 in a research note on Wednesday, July 15th. Finally, Citigroup boosted their price target on shares of Jabil from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, September 18th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $38.44.
Shares of NYSE:JBL opened at $33.26 on Wednesday. The company has a market capitalization of $5.01 billion, a P/E ratio of 138.59, a price-to-earnings-growth ratio of 0.98 and a beta of 1.21. Jabil Inc has a fifty-two week low of $17.63 and a fifty-two week high of $44.20. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.57 and a current ratio of 0.94. The company’s 50-day moving average is $33.80 and its 200 day moving average is $30.18.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Friday, August 14th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Thursday, August 13th. Jabil’s dividend payout ratio (DPR) is presently 17.68%.
Jabil Company Profile
Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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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