Primecap Management Co. CA Sells 148,275 Shares of Jabil Inc. (NYSE:JBL)

Primecap Management Co. CA reduced its holdings in shares of Jabil Inc. (NYSE:JBL) by 3.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,722,975 shares of the technology company’s stock after selling 148,275 shares during the quarter. Primecap Management Co. CA owned approximately 2.92% of Jabil worth $474,307,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealthfront Advisers LLC bought a new stake in Jabil during the third quarter worth about $213,000. Orion Portfolio Solutions LLC boosted its holdings in shares of Jabil by 15.0% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 2,594 shares of the technology company’s stock valued at $329,000 after buying an additional 339 shares during the last quarter. MGO One Seven LLC acquired a new stake in shares of Jabil in the 3rd quarter valued at approximately $203,000. Nomura Asset Management Co. Ltd. grew its stake in shares of Jabil by 121.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 94,478 shares of the technology company’s stock valued at $11,988,000 after buying an additional 51,743 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in Jabil by 1.3% during the third quarter. Signaturefd LLC now owns 6,761 shares of the technology company’s stock worth $858,000 after buying an additional 86 shares during the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Jabil Stock Performance

NYSE:JBL traded up $0.81 during mid-day trading on Friday, hitting $119.60. 1,144,951 shares of the stock were exchanged, compared to its average volume of 1,392,382. The firm’s 50-day simple moving average is $125.29 and its 200 day simple moving average is $129.18. The stock has a market capitalization of $14.42 billion, a price-to-earnings ratio of 10.27, a price-to-earnings-growth ratio of 1.46 and a beta of 1.42. Jabil Inc. has a fifty-two week low of $85.73 and a fifty-two week high of $156.94. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.72 and a current ratio of 1.17.

Jabil (NYSE:JBL) last posted its earnings results on Friday, March 15th. The technology company reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.01). Jabil had a return on equity of 39.47% and a net margin of 4.70%. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.91 billion. As a group, equities analysts anticipate that Jabil Inc. will post 7.83 EPS for the current fiscal year.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. Jabil’s dividend payout ratio is presently 2.75%.

Insider Activity

In related news, SVP May Yee Yap sold 7,877 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $139.65, for a total value of $1,100,023.05. Following the completion of the transaction, the senior vice president now owns 29,006 shares of the company’s stock, valued at $4,050,687.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Chairman Mark T. Mondello sold 50,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $126.09, for a total transaction of $6,304,500.00. Following the sale, the chairman now owns 1,809,194 shares of the company’s stock, valued at approximately $228,121,271.46. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP May Yee Yap sold 7,877 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $139.65, for a total value of $1,100,023.05. Following the completion of the transaction, the senior vice president now directly owns 29,006 shares of the company’s stock, valued at approximately $4,050,687.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,877 shares of company stock worth $9,824,383. Corporate insiders own 2.62% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on JBL. Argus cut shares of Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. The Goldman Sachs Group raised their price objective on Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Finally, Barclays decreased their target price on Jabil from $151.00 to $149.00 and set an “overweight” rating on the stock in a report on Monday, March 18th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Jabil has a consensus rating of “Buy” and an average target price of $144.50.

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).