Convergence Investment Partners LLC lowered its holdings in shares of Jabil Inc (NYSE:JBL) by 54.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 41,399 shares of the technology company’s stock after selling 50,368 shares during the period. Convergence Investment Partners LLC’s holdings in Jabil were worth $1,182,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in JBL. IHT Wealth Management LLC raised its stake in Jabil by 142.6% during the second quarter. IHT Wealth Management LLC now owns 359 shares of the technology company’s stock worth $159,000 after buying an additional 211 shares during the last quarter. Advisor Group Inc. raised its stake in Jabil by 68.2% during the second quarter. Advisor Group Inc. now owns 5,765 shares of the technology company’s stock worth $168,000 after buying an additional 2,337 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Jabil by 9.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,054 shares of the technology company’s stock worth $177,000 after buying an additional 547 shares during the last quarter. Stevens Capital Management LP bought a new position in Jabil during the second quarter worth $206,000. Finally, Bridgewater Associates LP bought a new position in Jabil during the second quarter worth $219,000. 95.10% of the stock is owned by hedge funds and other institutional investors.
JBL has been the subject of a number of analyst reports. ValuEngine raised shares of Jabil from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 7th. Citigroup reissued a “sell” rating and set a $28.00 target price on shares of Jabil in a research note on Thursday, September 28th. Needham & Company LLC reissued a “buy” rating and set a $37.00 target price on shares of Jabil in a research note on Friday, September 1st. Zacks Investment Research raised shares of Jabil from a “hold” rating to a “strong-buy” rating and set a $34.00 target price for the company in a research note on Monday, October 2nd. Finally, Stifel Nicolaus reissued a “hold” rating and set a $30.00 target price on shares of Jabil in a research note on Thursday, September 28th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $30.50.
In other news, CEO Mark T. Mondello sold 30,000 shares of Jabil stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $29.02, for a total transaction of $870,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President William E. Peters sold 3,580 shares of Jabil stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $28.74, for a total transaction of $102,889.20. The disclosure for this sale can be found here. Insiders have sold 147,680 shares of company stock valued at $4,204,246 over the last quarter. Corporate insiders own 2.90% of the company’s stock.
Jabil Inc (NYSE:JBL) traded down $0.63 on Thursday, reaching $27.56. 2,775,300 shares of the company’s stock traded hands, compared to its average volume of 1,895,081. Jabil Inc has a 12-month low of $20.44 and a 12-month high of $31.70. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $4,979.57, a P/E ratio of 15.16, a P/E/G ratio of 1.06 and a beta of 0.55.
Jabil (NYSE:JBL) last posted its quarterly earnings results on Wednesday, September 27th. The technology company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03. Jabil had a net margin of 0.68% and a return on equity of 14.47%. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same period in the previous year, the firm posted $0.28 earnings per share. The business’s revenue was up 13.4% compared to the same quarter last year. analysts forecast that Jabil Inc will post 2.22 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Tuesday, November 14th. Jabil’s dividend payout ratio is currently 46.38%.
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Jabil Company Profile
Jabil Inc, formerly Jabil Circuit, Inc, provides electronic manufacturing services and solutions throughout the world. The Company operates in two segments, which include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The Company’s EMS segment is focused on leveraging information technology (IT), supply chain design and engineering, technologies centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a range of markets.
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