Jabil Inc. (NYSE:JBL) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its position in shares of Jabil Inc. (NYSE:JBL) by 5.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,823 shares of the technology company’s stock after selling 4,198 shares during the period. Public Employees Retirement System of Ohio owned about 0.06% of Jabil worth $8,127,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Van ECK Associates Corp lifted its holdings in Jabil by 6.0% in the 3rd quarter. Van ECK Associates Corp now owns 1,589 shares of the technology company’s stock worth $195,000 after buying an additional 90 shares in the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of Jabil by 2.9% in the third quarter. Verdence Capital Advisors LLC now owns 3,234 shares of the technology company’s stock worth $387,000 after acquiring an additional 91 shares in the last quarter. Gateway Investment Advisers LLC boosted its holdings in Jabil by 3.5% in the third quarter. Gateway Investment Advisers LLC now owns 3,139 shares of the technology company’s stock valued at $376,000 after purchasing an additional 105 shares during the last quarter. Richard P Slaughter Associates Inc grew its stake in Jabil by 0.7% during the 3rd quarter. Richard P Slaughter Associates Inc now owns 17,624 shares of the technology company’s stock valued at $2,112,000 after purchasing an additional 120 shares in the last quarter. Finally, Private Advisor Group LLC increased its holdings in Jabil by 4.9% during the 3rd quarter. Private Advisor Group LLC now owns 2,578 shares of the technology company’s stock worth $309,000 after purchasing an additional 120 shares during the last quarter. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Francis Mckay sold 11,755 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $121.71, for a total value of $1,430,701.05. Following the completion of the transaction, the senior vice president now directly owns 41,507 shares of the company’s stock, valued at $5,051,816.97. This represents a 22.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of Jabil stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $124.70, for a total value of $2,494,000.00. Following the sale, the director now directly owns 139,108 shares in the company, valued at $17,346,767.60. The trade was a 12.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,689 shares of company stock valued at $5,377,431 in the last quarter. Company insiders own 2.62% of the company’s stock.

Jabil Price Performance

JBL opened at $133.64 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. The company’s 50-day moving average price is $129.24 and its 200 day moving average price is $117.46. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $156.94. The firm has a market cap of $15.08 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 1.59 and a beta of 1.25.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.08. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The business had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.59 billion. During the same period in the prior year, the firm earned $2.34 EPS. The business’s quarterly revenue was down 17.7% on a year-over-year basis. As a group, sell-side analysts expect that Jabil Inc. will post 7.89 earnings per share for the current year.

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were given a dividend of $0.08 per share. The ex-dividend date was Friday, November 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. Jabil’s dividend payout ratio is currently 2.90%.

Wall Street Analyst Weigh In

JBL has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Bank of America raised their price objective on shares of Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Barclays upped their target price 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. StockNews.com upgraded Jabil from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. Finally, Stifel Nicolaus upped their price objective on Jabil from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.17.

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).