JPMorgan Chase & Co. lessened its stake in Jabil Inc (NYSE:JBL) by 7.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,123,905 shares of the technology company’s stock after selling 90,808 shares during the quarter. JPMorgan Chase & Co.’s holdings in Jabil were worth $30,435,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in JBL. Raymond James & Associates boosted its stake in Jabil by 14.3% during the 2nd quarter. Raymond James & Associates now owns 83,772 shares of the technology company’s stock worth $2,317,000 after purchasing an additional 10,450 shares during the last quarter. Millennium Management LLC boosted its stake in Jabil by 182.3% during the 2nd quarter. Millennium Management LLC now owns 262,830 shares of the technology company’s stock worth $7,270,000 after purchasing an additional 169,736 shares during the last quarter. Northern Trust Corp boosted its stake in Jabil by 7.1% during the 2nd quarter. Northern Trust Corp now owns 2,018,480 shares of the technology company’s stock worth $55,831,000 after purchasing an additional 133,721 shares during the last quarter. United Services Automobile Association boosted its stake in Jabil by 1.2% during the 2nd quarter. United Services Automobile Association now owns 258,319 shares of the technology company’s stock worth $7,145,000 after purchasing an additional 3,172 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in Jabil during the 3rd quarter worth $300,000. 92.57% of the stock is currently owned by institutional investors.

Shares of JBL opened at $26.90 on Wednesday. Jabil Inc has a 52-week low of $21.49 and a 52-week high of $31.77. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.62 and a current ratio of 1.02. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 0.90 and a beta of 0.60.

Jabil (NYSE:JBL) last announced its earnings results on Tuesday, December 18th. The technology company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.21. The company had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $6.05 billion. Jabil had a net margin of 0.63% and a return on equity of 19.52%. During the same quarter in the previous year, the company posted $0.80 EPS. As a group, analysts forecast that Jabil Inc will post 2.45 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $0.32 annualized dividend and a dividend yield of 1.19%. Jabil’s payout ratio is 14.75%.

Several equities research analysts have issued reports on JBL shares. TheStreet cut shares of Jabil from a “b-” rating to a “c+” rating in a research note on Tuesday, October 9th. ValuEngine raised shares of Jabil from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Goldman Sachs Group raised shares of Jabil from a “sell” rating to a “neutral” rating and set a $25.00 target price on the stock in a research note on Sunday, November 11th. JPMorgan Chase & Co. lowered their target price on shares of Jabil from $37.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, November 14th. Finally, Citigroup lowered their target price on shares of Jabil to $24.00 and set a “sell” rating on the stock in a research note on Tuesday, November 27th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $28.20.

In other news, CEO Michael J. Loparco sold 2,500 shares of the business’s stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $26.40, for a total transaction of $66,000.00. Following the transaction, the chief executive officer now owns 291,943 shares of the company’s stock, valued at approximately $7,707,295.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Kenneth S. Wilson sold 6,000 shares of the business’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $24.30, for a total transaction of $145,800.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,500 shares of company stock worth $340,150. Corporate insiders own 2.90% of the company’s stock.

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Jabil Profile

Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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).

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Institutional Ownership by Quarter for Jabil (NYSE:JBL)

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