BNP PARIBAS ASSET MANAGEMENT Holding S.A. Cuts Stake in Jabil Inc. (NYSE:JBL)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its position in shares of Jabil Inc. (NYSE:JBL) by 62.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,623 shares of the technology company’s stock after selling 118,139 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.06% of Jabil worth $8,343,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in Jabil by 6.0% in the 3rd quarter. Van ECK Associates Corp now owns 1,589 shares of the technology company’s stock valued at $195,000 after buying an additional 90 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in Jabil by 2.9% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,234 shares of the technology company’s stock valued at $387,000 after purchasing an additional 91 shares during the period. Gateway Investment Advisers LLC grew its stake in Jabil by 3.5% during the 3rd quarter. Gateway Investment Advisers LLC now owns 3,139 shares of the technology company’s stock worth $376,000 after buying an additional 105 shares during the last quarter. GAMMA Investing LLC increased its position in Jabil by 15.3% in the second quarter. GAMMA Investing LLC now owns 797 shares of the technology company’s stock worth $87,000 after buying an additional 106 shares during the period. Finally, M&R Capital Management Inc. lifted its stake in Jabil by 8.4% in the second quarter. M&R Capital Management Inc. now owns 1,380 shares of the technology company’s stock valued at $150,000 after buying an additional 107 shares during the last quarter. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on JBL shares. JPMorgan Chase & Co. dropped their price objective on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Barclays lifted their price target on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Bank of America increased their price objective on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, Stifel Nicolaus lifted 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. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Jabil presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.50.

Jabil Stock Performance

Shares of NYSE JBL opened at $131.12 on Monday. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94. The firm has a market cap of $14.80 billion, a P/E ratio of 11.90, a PEG ratio of 1.54 and a beta of 1.24. The stock has a fifty day moving average price of $123.82 and a two-hundred day moving average price of $115.81. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.72 and a current ratio of 1.09.

Jabil (NYSE:JBL) last announced its earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $6.59 billion. During the same quarter last year, the business posted $2.34 earnings per share. The company’s quarterly revenue was down 17.7% on a year-over-year basis. Research analysts forecast that Jabil Inc. will post 7.84 EPS for the current fiscal year.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.24%. The ex-dividend date is Friday, November 15th. Jabil’s dividend payout ratio is presently 2.90%.

Insider Buying and Selling

In related news, SVP Francis Mckay sold 11,755 shares of the stock in a transaction 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 owns 41,507 shares in the company, valued at $5,051,816.97. This trade represents a 22.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Frederic E. Mccoy sold 4,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $118.70, for a total value of $474,800.00. Following the sale, the executive vice president now owns 108,753 shares in the company, valued at approximately $12,908,981.10. The trade was a 3.55 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,689 shares of company stock worth $5,377,431. Corporate insiders own 2.62% of the company’s stock.

Jabil Company 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).