Jabil Inc. (NYSE:JBL) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. decreased its position in Jabil Inc. (NYSE:JBL) by 55.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,881 shares of the technology company’s stock after selling 7,384 shares during the period. Advisors Asset Management Inc.’s holdings in Jabil were worth $705,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Jabil by 2,750.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 110,701 shares of the technology company’s stock worth $13,265,000 after buying an additional 106,818 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Jabil by 2.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 35,734 shares of the technology company’s stock valued at $4,282,000 after acquiring an additional 1,013 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Jabil during the 3rd quarter worth $365,000. Meeder Asset Management Inc. grew its stake in shares of Jabil by 72.5% in the third quarter. Meeder Asset Management Inc. now owns 8,635 shares of the technology company’s stock worth $1,035,000 after purchasing an additional 3,628 shares in the last quarter. Finally, Empirical Finance LLC increased its holdings in shares of Jabil by 5.6% during the third quarter. Empirical Finance LLC now owns 5,641 shares of the technology company’s stock valued at $676,000 after purchasing an additional 297 shares during the period. Institutional investors and hedge funds own 93.39% of the company’s stock.

Jabil Stock Performance

NYSE:JBL opened at $132.70 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66. The firm’s fifty day simple moving average is $124.39 and its 200 day simple moving average is $115.92. The firm has a market capitalization of $14.97 billion, a PE ratio of 12.04, a PEG ratio of 1.55 and a beta of 1.24. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 EPS 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 the consensus estimate of $6.59 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The company’s quarterly revenue was down 17.7% on a year-over-year basis. During the same quarter last year, the company earned $2.34 EPS. On average, sell-side analysts anticipate that Jabil Inc. will post 7.84 EPS for the current year.

Jabil Dividend Announcement

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

Insider Activity

In related news, EVP Frederic E. Mccoy sold 4,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total value of $474,800.00. Following the transaction, the executive vice president now directly owns 108,753 shares in the company, valued at $12,908,981.10. This represents a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $124.70, for a total value of $2,494,000.00. Following the transaction, the director now owns 139,108 shares in the company, valued at approximately $17,346,767.60. This trade represents a 12.57 % 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. 2.62% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on JBL shares. Bank of America upped 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. Stifel Nicolaus upped their price target on shares of Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Barclays raised their price objective 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. Finally, JPMorgan Chase & Co. cut their target price on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $143.50.

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).