Bank of New York Mellon Corp Sells 52,599 Shares of Jabil Inc. (NYSE:JBL)

Bank of New York Mellon Corp trimmed its holdings in Jabil Inc. (NYSE:JBL) by 4.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,081,081 shares of the technology company’s stock after selling 52,599 shares during the quarter. Bank of New York Mellon Corp’s holdings in Jabil were worth $155,568,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. IFP Advisors Inc boosted its position in shares of Jabil by 57.7% in the fourth quarter. IFP Advisors Inc now owns 7,016 shares of the technology company’s stock valued at $1,010,000 after acquiring an additional 2,566 shares during the period. Rowlandmiller & PARTNERS.ADV bought a new stake in shares of Jabil in the fourth quarter valued at approximately $101,000. J. W. Coons Advisors LLC bought a new stake in shares of Jabil in the fourth quarter valued at approximately $230,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Jabil by 40.3% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 17,760 shares of the technology company’s stock valued at $2,556,000 after acquiring an additional 5,100 shares during the period. Finally, First Horizon Advisors Inc. boosted its position in shares of Jabil by 90.3% in the fourth quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company’s stock valued at $39,000 after acquiring an additional 130 shares during the period. 93.39% of the stock is owned by institutional investors.

Insider Activity

In other news, Director John C. Plant sold 50,000 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $172.55, for a total value of $8,627,500.00. Following the completion of the sale, the director now directly owns 5,900 shares in the company, valued at approximately $1,018,045. This trade represents a 89.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Frederic E. Mccoy sold 4,000 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $149.81, for a total value of $599,240.00. Following the completion of the sale, the executive vice president now owns 138,472 shares of the company’s stock, valued at approximately $20,744,490.32. This trade represents a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,400 shares of company stock worth $12,804,458. 1.73% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on JBL. StockNews.com cut Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday. The Goldman Sachs Group raised their target price on Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. UBS Group raised their target price on Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Barclays raised their target price on Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $160.00 target price (up from $150.00) on shares of Jabil in a research report on Thursday, December 19th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $158.83.

Jabil Stock Performance

Jabil stock opened at $154.96 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72. The stock has a fifty day moving average price of $158.95 and a two-hundred day moving average price of $134.66. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $174.80. The firm has a market capitalization of $16.92 billion, a P/E ratio of 14.86, a P/E/G ratio of 1.65 and a beta of 1.23.

Jabil (NYSE:JBL) last released its quarterly earnings data on Wednesday, December 18th. The technology company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.12. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The firm had revenue of $6.99 billion during the quarter, compared to analyst estimates of $6.61 billion. During the same period in the prior year, the company posted $2.60 earnings per share. The business’s revenue for the quarter was down 16.6% compared to the same quarter last year. As a group, analysts anticipate that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.32 annualized dividend and a yield of 0.21%. Jabil’s dividend payout ratio is currently 3.07%.

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).