Jabil Inc. (NYSE:JBL) Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC lowered its position in Jabil Inc. (NYSE:JBL) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,156 shares of the technology company’s stock after selling 1,213 shares during the period. Rafferty Asset Management LLC’s holdings in Jabil were worth $5,778,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Truist Financial Corp raised its position in shares of Jabil by 50.4% in the fourth quarter. Truist Financial Corp now owns 12,037 shares of the technology company’s stock worth $1,732,000 after acquiring an additional 4,034 shares during the period. Merit Financial Group LLC acquired a new position in shares of Jabil during the 4th quarter worth about $235,000. Keybank National Association OH acquired a new position in shares of Jabil during the 4th quarter worth about $214,000. Principal Financial Group Inc. raised its position in shares of Jabil by 4.4% during the 4th quarter. Principal Financial Group Inc. now owns 143,266 shares of the technology company’s stock worth $20,616,000 after purchasing an additional 5,993 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of Jabil by 6.6% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 32,104 shares of the technology company’s stock worth $4,620,000 after purchasing an additional 1,995 shares during the last quarter. Institutional investors and hedge funds own 93.39% of the company’s stock.

Jabil Stock Up 0.8%

JBL stock opened at $167.88 on Friday. The company has a market cap of $18.02 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 1.65 and a beta of 1.11. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. Jabil Inc. has a 12 month low of $95.85 and a 12 month high of $174.80. The firm has a 50-day moving average of $141.38 and a two-hundred day moving average of $145.32.

Jabil (NYSE:JBL) last released its quarterly earnings data on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same period last year, the business earned $1.68 earnings per share. Jabil’s revenue was down .6% compared to the same quarter last year. As a group, analysts forecast that Jabil Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th will be paid a $0.08 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.19%. Jabil’s dividend payout ratio (DPR) is 7.66%.

Insider Activity

In other news, CEO Michael Dastoor sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $169.90, for a total value of $1,699,000.00. Following the completion of the sale, the chief executive officer now owns 221,693 shares of the company’s stock, valued at $37,665,640.70. This represents a 4.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $131.56, for a total transaction of $2,631,200.00. Following the completion of the sale, the chairman now directly owns 1,730,192 shares of the company’s stock, valued at approximately $227,624,059.52. This trade represents a 1.14% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on JBL. The Goldman Sachs Group reduced their price target on shares of Jabil from $175.00 to $146.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. UBS Group upped their price target on shares of Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. JPMorgan Chase & Co. reduced their price target on shares of Jabil from $175.00 to $154.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Barclays upped their price target on shares of Jabil from $179.00 to $184.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Finally, StockNews.com cut shares of Jabil from a “buy” rating to a “hold” rating in a research note on Friday, April 18th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Jabil presently has an average rating of “Moderate Buy” and an average price target of $158.50.

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).