Jabil Inc. (NYSE:JBL) Position Lessened by Federated Hermes Inc.

Federated Hermes Inc. lowered its position in Jabil Inc. (NYSE:JBL) by 6.4% during the second quarter, HoldingsChannel.com reports. The firm owned 24,360 shares of the technology company’s stock after selling 1,652 shares during the quarter. Federated Hermes Inc.’s holdings in Jabil were worth $2,650,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of JBL. Benjamin Edwards Inc. bought a new stake in shares of Jabil in the 1st quarter valued at approximately $25,000. ORG Partners LLC acquired a new stake in Jabil in the first quarter valued at approximately $29,000. Riverview Trust Co bought a new stake in Jabil in the first quarter worth approximately $33,000. HHM Wealth Advisors LLC acquired a new position in shares of Jabil during the 2nd quarter worth $28,000. Finally, Innealta Capital LLC bought a new position in shares of Jabil during the 2nd quarter valued at $31,000. 93.39% of the stock is owned by institutional investors and hedge funds.

Jabil Price Performance

Shares of Jabil stock opened at $110.86 on Friday. The firm has a fifty day moving average price of $107.17 and a two-hundred day moving average price of $118.19. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $156.94. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.74. The company has a market cap of $12.58 billion, a PE ratio of 10.09, a price-to-earnings-growth ratio of 1.75 and a beta of 1.25.

Jabil (NYSE:JBL) last released its earnings results on Thursday, June 20th. The technology company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.53 billion. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The firm’s revenue for the quarter was down 20.2% compared to the same quarter last year. During the same period last year, the business earned $1.85 earnings per share. Analysts expect that Jabil Inc. will post 7.86 EPS for the current year.

Jabil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date was Thursday, August 15th. Jabil’s dividend payout ratio is presently 2.91%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on JBL shares. Bank of America cut their target price on Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Friday, June 21st. JPMorgan Chase & Co. reduced their target price on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Barclays dropped their price target on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Stifel Nicolaus decreased their price objective on shares of Jabil from $135.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday. Finally, UBS Group dropped their target price on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, June 21st. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $139.88.

Insider Activity at Jabil

In other Jabil news, EVP Frederic E. Mccoy sold 1,250 shares of Jabil stock in a transaction on Monday, July 15th. The shares were sold at an average price of $116.42, for a total transaction of $145,525.00. Following the sale, the executive vice president now owns 112,753 shares in the company, valued at $13,126,704.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Frederic E. Mccoy sold 1,250 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $116.42, for a total transaction of $145,525.00. Following the completion of the transaction, the executive vice president now directly owns 112,753 shares of the company’s stock, valued at approximately $13,126,704.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 directly owns 24,829 shares in the company, valued at approximately $2,905,986.16. The disclosure for this sale can be found here. 2.62% of the stock is currently owned by corporate insiders.

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).