Patriot Investment Management Group Inc. Reduces Holdings in Jabil Inc. (NYSE:JBL)

Patriot Investment Management Group Inc. lowered its stake in Jabil Inc. (NYSE:JBL) by 3.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,523 shares of the technology company’s stock after selling 180 shares during the quarter. Patriot Investment Management Group Inc.’s holdings in Jabil were worth $662,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of JBL. Vanguard Group Inc. lifted its holdings in Jabil by 10.5% in the 4th quarter. Vanguard Group Inc. now owns 15,070,238 shares of the technology company’s stock valued at $1,919,948,000 after purchasing an additional 1,427,429 shares in the last quarter. Primecap Management Co. CA raised its position in shares of Jabil by 3.0% in the second quarter. Primecap Management Co. CA now owns 3,682,875 shares of the technology company’s stock valued at $400,660,000 after buying an additional 107,800 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Jabil by 7.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,636,737 shares of the technology company’s stock valued at $178,058,000 after buying an additional 106,808 shares during the period. Bank of New York Mellon Corp boosted its position in Jabil by 29.0% during the second quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock worth $150,463,000 after acquiring an additional 310,590 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Jabil by 195.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock worth $115,404,000 after acquiring an additional 702,199 shares during the period. Institutional investors and hedge funds own 93.39% of the company’s stock.

Insider Activity at Jabil

In other Jabil news, SVP May Yee Yap sold 4,274 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total value of $500,228.96. Following the completion of the transaction, the senior vice president now directly owns 24,829 shares of the company’s stock, valued at $2,905,986.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Frederic E. Mccoy sold 4,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total value of $474,800.00. Following the completion of the sale, the executive vice president now owns 108,753 shares of the company’s stock, valued at approximately $12,908,981.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP May Yee Yap sold 4,274 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total transaction of $500,228.96. Following the completion of the sale, the senior vice president now owns 24,829 shares in the company, valued at approximately $2,905,986.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.62% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on JBL shares. UBS Group decreased their price objective on Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, June 21st. Stifel Nicolaus raised their price target on Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. cut their price objective on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Bank of America raised their target price on shares of Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, Barclays upped their price target on shares of Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.50.

Jabil Stock Performance

NYSE:JBL opened at $124.23 on Monday. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $156.94. The firm has a market capitalization of $14.09 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 1.46 and a beta of 1.25. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66. The firm’s fifty day simple moving average is $109.79 and its 200 day simple moving average is $115.61.

Jabil (NYSE:JBL) last posted its earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.08. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.59 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The company’s revenue for the quarter was down 17.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.34 earnings per share. As a group, equities research analysts expect that Jabil Inc. will post 7.84 earnings per share for the current fiscal year.

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were paid a $0.08 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. Jabil’s dividend payout ratio (DPR) is presently 2.91%.

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).