Kathmere Capital Management LLC Decreases Position in Jabil, Inc. $JBL

Kathmere Capital Management LLC decreased its stake in Jabil, Inc. (NYSE:JBL) by 8.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,920 shares of the technology company’s stock after selling 344 shares during the quarter. Kathmere Capital Management LLC’s holdings in Jabil were worth $855,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of JBL. Wellington Management Group LLP boosted its position in shares of Jabil by 12.9% in the first quarter. Wellington Management Group LLP now owns 6,556,153 shares of the technology company’s stock worth $892,096,000 after buying an additional 747,423 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in shares of Jabil by 119.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,215,678 shares of the technology company’s stock worth $165,417,000 after buying an additional 662,938 shares during the period. Lord Abbett & CO. LLC purchased a new stake in shares of Jabil in the first quarter worth about $81,378,000. GAMMA Investing LLC boosted its position in shares of Jabil by 17,410.3% in the first quarter. GAMMA Investing LLC now owns 524,958 shares of the technology company’s stock worth $71,431,000 after buying an additional 521,960 shares during the period. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Jabil in the first quarter worth about $51,257,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Jabil Trading Up 2.8%

NYSE:JBL opened at $216.19 on Friday. The company has a quick ratio of 0.64, a current ratio of 1.00 and a debt-to-equity ratio of 1.57. The business’s 50 day moving average is $216.57 and its two-hundred day moving average is $184.48. Jabil, Inc. has a 52 week low of $108.66 and a 52 week high of $237.14. The company has a market cap of $23.20 billion, a PE ratio of 36.27, a P/E/G ratio of 1.27 and a beta of 1.25.

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Friday, August 15th. Jabil’s dividend payout ratio (DPR) is currently 6.21%.

Analyst Ratings Changes

JBL has been the subject of a number of analyst reports. Stifel Nicolaus initiated coverage on Jabil in a report on Wednesday, July 2nd. They issued a “buy” rating and a $245.00 price target for the company. Barclays increased their price target on Jabil from $223.00 to $267.00 and gave the company an “overweight” rating in a report on Friday. Bank of America increased their price target on Jabil from $245.00 to $255.00 and gave the company a “buy” rating in a report on Friday. UBS Group increased their price target on Jabil from $157.00 to $208.00 and gave the company a “neutral” rating in a report on Wednesday, June 18th. Finally, The Goldman Sachs Group increased their price target on Jabil from $188.00 to $215.00 and gave the company a “buy” rating in a report on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $243.71.

Insider Activity at Jabil

In other Jabil news, Director Steven A. Raymund sold 13,432 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $223.11, for a total transaction of $2,996,813.52. Following the transaction, the director owned 86,396 shares of the company’s stock, valued at $19,275,811.56. This trade represents a 13.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Frederic E. Mccoy sold 4,500 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $223.55, for a total value of $1,005,975.00. Following the transaction, the executive vice president directly owned 124,203 shares in the company, valued at approximately $27,765,580.65. This represents a 3.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,416 shares of company stock worth $18,625,639 over the last quarter. 1.73% of the stock is owned by corporate insiders.

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).