Jabil Inc. (NYSE:JBL) Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC trimmed its position in Jabil Inc. (NYSE:JBL) by 23.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 258 shares of the technology company’s stock after selling 77 shares during the period. Sentry Investment Management LLC’s holdings in Jabil were worth $35,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of JBL. Truist Financial Corp lifted its holdings in 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 last quarter. Keybank National Association OH bought a new position in Jabil in the fourth quarter worth about $214,000. Principal Financial Group Inc. lifted its holdings in Jabil by 4.4% in the fourth quarter. Principal Financial Group Inc. now owns 143,266 shares of the technology company’s stock worth $20,616,000 after acquiring an additional 5,993 shares during the last quarter. Apollon Wealth Management LLC bought a new position in Jabil in the fourth quarter worth about $272,000. Finally, LPL Financial LLC lifted its holdings in Jabil by 23.5% in the fourth quarter. LPL Financial LLC now owns 40,748 shares of the technology company’s stock worth $5,864,000 after acquiring an additional 7,747 shares during the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Jabil Stock Performance

JBL opened at $176.93 on Friday. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $177.00. The stock has a market cap of $18.99 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 1.65 and a beta of 1.14. The business’s 50 day moving average is $150.17 and its 200-day moving average is $149.16. 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 (NYSE:JBL) last announced its earnings results on Thursday, March 20th. The technology company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.83 by $0.11. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The firm had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.40 billion. During the same quarter in the previous year, the company earned $1.68 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, analysts predict that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Thursday, May 15th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 annualized dividend and a yield of 0.18%. Jabil’s payout ratio is 7.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. UBS Group raised their target price on shares of Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Wall Street Zen raised shares of Jabil from a “hold” rating to a “buy” rating in a report on Monday, May 19th. JPMorgan Chase & Co. cut their price target on Jabil from $175.00 to $154.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Barclays lifted their price target on Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Finally, The Goldman Sachs Group cut their price target on Jabil from $175.00 to $146.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.50.

Insider Buying and Selling

In other Jabil news, CEO Michael Dastoor sold 10,000 shares of Jabil 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 transaction, the chief executive officer now owns 221,693 shares in the company, valued at approximately $37,665,640.70. The trade was a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark T. Mondello sold 20,000 shares of Jabil stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $131.56, for a total transaction of $2,631,200.00. Following the completion of the transaction, the chairman now owns 1,730,192 shares in the company, 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. Insiders have sold a total of 50,000 shares of company stock valued at $7,665,200 over the last quarter. Corporate insiders own 1.73% of the company’s stock.

About Jabil

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).