Cetera Investment Advisers Sells 8,037 Shares of Jabil Inc. (NYSE:JBL)

Cetera Investment Advisers reduced its stake in shares of Jabil Inc. (NYSE:JBL) by 46.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 9,313 shares of the technology company’s stock after selling 8,037 shares during the period. Cetera Investment Advisers’ holdings in Jabil were worth $1,013,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Primecap Management Co. CA increased its stake in Jabil by 3.0% during the second quarter. Primecap Management Co. CA now owns 3,682,875 shares of the technology company’s stock worth $400,660,000 after acquiring an additional 107,800 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Jabil by 7.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,636,737 shares of the technology company’s stock worth $178,058,000 after acquiring an additional 106,808 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Jabil by 29.0% during the second quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock worth $150,463,000 after acquiring an additional 310,590 shares during the last quarter. AQR Capital Management LLC increased its stake in Jabil by 195.8% during the second quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock worth $115,404,000 after acquiring an additional 702,199 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Jabil during the second quarter worth approximately $78,660,000. 93.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Jabil news, EVP Frederic E. Mccoy sold 4,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $118.70, for a total transaction of $474,800.00. Following the completion of the sale, the executive vice president now owns 108,753 shares in the company, valued at $12,908,981.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.62% of the stock is owned by company insiders.

Jabil Stock Up 1.6 %

Jabil stock opened at $125.86 on Friday. The business has a fifty day moving average of $111.82 and a two-hundred day moving average of $115.62. 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 firm has a market cap of $14.28 billion, a P/E ratio of 11.45, a P/E/G ratio of 1.46 and a beta of 1.25. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $156.94.

Jabil (NYSE:JBL) last posted its 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. The company had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.59 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. Jabil’s revenue was down 17.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.34 earnings per share. On average, analysts forecast that Jabil Inc. will post 7.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

JBL has been the topic of a number of analyst reports. UBS Group cut their target price on Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, June 21st. Barclays upped their target price on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Stifel Nicolaus upped their target price on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. cut their target price on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Finally, Bank of America upped their target price on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Jabil presently has an average rating of “Moderate Buy” and a consensus target price 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).