Jabil Inc. (NYSE:JBL) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its position in Jabil Inc. (NYSE:JBL) by 15.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 415,873 shares of the technology company’s stock after selling 74,626 shares during the quarter. Victory Capital Management Inc. owned 0.37% of Jabil worth $49,834,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. HHM Wealth Advisors LLC purchased a new position in shares of Jabil in the second quarter valued at $28,000. Innealta Capital LLC purchased a new position in shares of Jabil in the second quarter valued at $31,000. Capital Performance Advisors LLP purchased a new position in shares of Jabil in the third quarter valued at $32,000. Family Firm Inc. purchased a new position in shares of Jabil in the second quarter valued at $37,000. Finally, Matrix Trust Co boosted its stake in shares of Jabil by 135.4% in the third quarter. Matrix Trust Co now owns 372 shares of the technology company’s stock valued at $45,000 after purchasing an additional 214 shares during the period. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Jabil Trading Down 0.5 %

NYSE JBL opened at $128.26 on Friday. The company’s fifty day moving average price is $121.26 and its two-hundred day moving average price is $115.40. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72. Jabil Inc. has a 12 month low of $95.85 and a 12 month high of $156.94. The company has a market capitalization of $14.47 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24.

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

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be given a $0.08 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. Jabil’s payout ratio is currently 2.90%.

Insider Transactions at Jabil

In related news, EVP Frederic E. Mccoy sold 4,283 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $122.28, for a total value of $523,725.24. Following the sale, the executive vice president now owns 142,472 shares of the company’s stock, valued at $17,421,476.16. This trade represents a 2.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $124.70, for a total transaction of $2,494,000.00. Following the completion of the sale, the director now directly owns 139,108 shares in the company, valued at approximately $17,346,767.60. This trade represents a 12.57 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,689 shares of company stock worth $5,377,431. 2.62% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on JBL shares. Bank of America upped their target price on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. reduced their price objective on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Barclays increased their price objective on shares of Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Finally, Stifel Nicolaus increased their price objective on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.50.

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).