ING Groep NV Reduces Position in Jabil Inc. (NYSE:JBL)

ING Groep NV decreased its position in shares of Jabil Inc. (NYSE:JBL) by 87.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,812 shares of the technology company’s stock after selling 71,060 shares during the period. ING Groep NV’s holdings in Jabil were worth $1,412,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JBL. Handelsbanken Fonder AB increased its holdings in shares of Jabil by 511.3% in the 4th quarter. Handelsbanken Fonder AB now owns 198,348 shares of the technology company’s stock valued at $28,542,000 after acquiring an additional 165,900 shares during the period. Ieq Capital LLC grew its position in Jabil by 249.4% during the 4th quarter. Ieq Capital LLC now owns 30,624 shares of the technology company’s stock worth $4,407,000 after purchasing an additional 21,860 shares during the last quarter. Abacus Planning Group Inc. acquired a new position in Jabil in the fourth quarter valued at $235,000. Global Retirement Partners LLC raised its holdings in shares of Jabil by 105.4% in the fourth quarter. Global Retirement Partners LLC now owns 1,023 shares of the technology company’s stock valued at $147,000 after buying an additional 525 shares during the last quarter. Finally, Atria Wealth Solutions Inc. purchased a new stake in shares of Jabil in the fourth quarter valued at about $1,109,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. StockNews.com lowered Jabil from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Barclays lifted their target price on Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Stifel Nicolaus restated a “buy” rating and set a $160.00 price target (up previously from $150.00) on shares of Jabil in a research note on Thursday, December 19th. The Goldman Sachs Group lifted their price objective on shares of Jabil from $136.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, UBS Group boosted their price objective on shares of Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $153.17.

Insider Buying and Selling at Jabil

In related news, EVP Frederic E. Mccoy sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $149.81, for a total value of $599,240.00. Following the sale, the executive vice president now owns 138,472 shares in the company, valued at $20,744,490.32. This represents a 2.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Christopher S. Holland sold 3,400 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $162.27, for a total value of $551,718.00. Following the completion of the transaction, the director now directly owns 12,900 shares of the company’s stock, valued at $2,093,283. The trade was a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,400 shares of company stock valued at $12,804,458. Corporate insiders own 1.73% of the company’s stock.

Jabil Stock Down 2.2 %

Jabil stock opened at $162.54 on Monday. The stock’s 50 day moving average price is $157.22 and its 200 day moving average price is $133.19. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $174.80. The company has a market cap of $17.75 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 1.65 and a beta of 1.23. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72.

Jabil (NYSE:JBL) last released its earnings results on Wednesday, December 18th. The technology company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.12. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The company had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $6.61 billion. During the same quarter last year, the company earned $2.60 earnings per share. Jabil’s quarterly revenue was down 16.6% compared to the same quarter last year. On average, sell-side analysts predict that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be given 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 0.20%. Jabil’s payout ratio is currently 3.07%.

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).