Comerica Bank cut its stake in shares of Jabil Inc (NYSE:JBL) by 3.1% in the third quarter, Holdings Channel reports. The fund owned 111,443 shares of the technology company’s stock after selling 3,609 shares during the period. Comerica Bank’s holdings in Jabil were worth $4,062,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Jabil by 2.6% during the second quarter. JPMorgan Chase & Co. now owns 1,112,591 shares of the technology company’s stock valued at $34,591,000 after acquiring an additional 27,815 shares during the period. Dupont Capital Management Corp lifted its holdings in shares of Jabil by 10.1% during the second quarter. Dupont Capital Management Corp now owns 13,097 shares of the technology company’s stock valued at $414,000 after acquiring an additional 1,200 shares during the period. Toth Financial Advisory Corp lifted its holdings in shares of Jabil by 8,083.3% during the second quarter. Toth Financial Advisory Corp now owns 10,311 shares of the technology company’s stock valued at $326,000 after acquiring an additional 10,185 shares during the period. Advisory Services Network LLC increased its stake in shares of Jabil by 57.1% in the second quarter. Advisory Services Network LLC now owns 1,238 shares of the technology company’s stock valued at $39,000 after buying an additional 450 shares in the last quarter. Finally, Commerce Bank increased its stake in shares of Jabil by 183.8% in the second quarter. Commerce Bank now owns 22,399 shares of the technology company’s stock valued at $707,000 after buying an additional 14,507 shares in the last quarter. 88.76% of the stock is owned by institutional investors.
Shares of NYSE:JBL opened at $39.26 on Friday. Jabil Inc has a twelve month low of $21.49 and a twelve month high of $39.43. The firm has a market cap of $5.98 billion, a PE ratio of 21.69, a price-to-earnings-growth ratio of 1.31 and a beta of 0.97. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.62 and a current ratio of 0.98. The business has a fifty day moving average of $35.84 and a 200-day moving average of $30.76.
Jabil (NYSE:JBL) last announced its quarterly earnings data on Tuesday, September 24th. The technology company reported $0.88 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.02. The firm had revenue of $6.57 billion during the quarter, compared to analyst estimates of $6.63 billion. Jabil had a return on equity of 15.90% and a net margin of 1.14%. The company’s revenue was up 13.9% on a year-over-year basis. During the same period last year, the company earned $0.70 earnings per share. On average, analysts anticipate that Jabil Inc will post 2.49 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.82%. Jabil’s payout ratio is 17.68%.
A number of analysts have recently weighed in on the company. Citigroup raised their target price on Jabil from $36.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Argus raised their target price on Jabil from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. ValuEngine lowered Jabil from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Bank of America raised their target price on Jabil from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. raised their target price on Jabil from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Jabil currently has a consensus rating of “Hold” and an average price target of $34.56.
In related news, CEO Steven D. Borges sold 10,000 shares of Jabil stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $38.01, for a total value of $380,100.00. Following the completion of the sale, the chief executive officer now directly owns 197,837 shares in the company, valued at $7,519,784.37. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Robert L. Katz sold 2,933 shares of Jabil stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $36.87, for a total value of $108,139.71. Following the completion of the sale, the executive vice president now owns 205,669 shares of the company’s stock, valued at $7,583,016.03. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,898 shares of company stock valued at $7,684,410. Corporate insiders own 2.90% of the company’s stock.
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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