Wellington Management Group LLP Trims Stake in Jabil Inc. (NYSE:JBL)

Wellington Management Group LLP cut its position in shares of Jabil Inc. (NYSE:JBL) by 99.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,195 shares of the technology company’s stock after selling 838,048 shares during the period. Wellington Management Group LLP’s holdings in Jabil were worth $982,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. HHM Wealth Advisors LLC purchased a new stake in Jabil in the second quarter worth about $28,000. Capital Performance Advisors LLP bought a new stake in shares of Jabil in the 3rd quarter valued at about $32,000. Innealta Capital LLC bought a new stake in shares of Jabil in the 2nd quarter valued at about $31,000. Brooklyn Investment Group purchased a new stake in shares of Jabil in the 3rd quarter worth approximately $39,000. Finally, Family Firm Inc. bought a new position in shares of Jabil during the second quarter valued at approximately $37,000. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. UBS Group boosted their price objective on shares of Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a research note on Thursday. Barclays upped their price objective on Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Stifel Nicolaus reiterated a “buy” rating and issued a $160.00 target price (up previously from $150.00) on shares of Jabil in a research note on Thursday. StockNews.com downgraded shares of Jabil from a “strong-buy” rating to a “buy” rating in a report on Thursday. Finally, The Goldman Sachs Group raised their price target on shares of Jabil from $136.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $149.50.

Insider Activity

In other news, Director Steven A. Raymund sold 20,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $124.70, for a total value of $2,494,000.00. Following the sale, the director now directly owns 139,108 shares of the company’s stock, valued at $17,346,767.60. This represents a 12.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Francis Mckay sold 11,755 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the transaction, the senior vice president now directly owns 41,507 shares of the company’s stock, valued at approximately $5,051,816.97. This trade represents a 22.07 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,689 shares of company stock valued at $5,377,431. Company insiders own 1.73% of the company’s stock.

Jabil Stock Performance

JBL opened at $140.44 on Friday. The company has a market cap of $15.69 billion, a P/E ratio of 12.74, a price-to-earnings-growth ratio of 1.57 and a beta of 1.25. 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’s 50-day moving average price is $130.72 and its 200-day moving average price is $118.12. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $156.94.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Wednesday, December 18th. The technology company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.12. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The business had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.61 billion. During the same quarter in the prior year, the business posted $2.60 EPS. Jabil’s revenue for the quarter was down 16.6% compared to the same quarter last year. As a group, equities analysts anticipate that Jabil Inc. will post 7.89 EPS for the current fiscal year.

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, November 15th. This represents a $0.32 annualized dividend and a yield of 0.23%. Jabil’s payout ratio is presently 2.90%.

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).