CoreCap Advisors LLC Decreases Holdings in Jabil Inc. (NYSE:JBL)

CoreCap Advisors LLC decreased its position in shares of Jabil Inc. (NYSE:JBL) by 36.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,554 shares of the technology company’s stock after selling 898 shares during the period. CoreCap Advisors LLC’s holdings in Jabil were worth $224,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Meyer Handelman Co. purchased a new stake in shares of Jabil during the 4th quarter worth approximately $7,334,000. Davis Investment Partners LLC acquired a new position in shares of Jabil during the 4th quarter worth approximately $1,433,000. Truist Financial Corp raised its position in shares of Jabil by 50.4% during the 4th quarter. Truist Financial Corp now owns 12,037 shares of the technology company’s stock worth $1,732,000 after purchasing an additional 4,034 shares during the last quarter. Merit Financial Group LLC acquired a new position in shares of Jabil during the 4th quarter worth approximately $235,000. Finally, Keybank National Association OH acquired a new position in shares of Jabil during the 4th quarter worth approximately $214,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Insider Activity

In other news, Chairman Mark T. Mondello sold 20,000 shares of the business’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $131.56, for a total transaction of $2,631,200.00. Following the completion of the sale, the chairman now directly owns 1,730,192 shares of the company’s stock, valued at $227,624,059.52. The trade was a 1.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on JBL shares. StockNews.com downgraded Jabil from a “buy” rating to a “hold” rating in a research report on Friday, April 18th. The Goldman Sachs Group cut their price objective on Jabil from $175.00 to $146.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Barclays lifted their price objective on Jabil from $179.00 to $184.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. UBS Group lifted their price objective on Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Finally, JPMorgan Chase & Co. cut their price objective on Jabil from $175.00 to $154.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $158.50.

Jabil Trading Down 0.3%

Shares of JBL opened at $153.97 on Monday. The stock has a fifty day moving average of $138.51 and a two-hundred day moving average of $144.02. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. The company has a market capitalization of $16.53 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 1.65 and a beta of 1.11. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $174.80.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.11. The company had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.40 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. Jabil’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.68 EPS. As a group, analysts forecast that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.21%. Jabil’s dividend payout ratio is presently 7.66%.

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).