Hennessy Advisors Inc. Sells 566 Shares of Jabil, Inc. $JBL

Hennessy Advisors Inc. decreased its holdings in Jabil, Inc. (NYSE:JBL) by 3.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 16,955 shares of the technology company’s stock after selling 566 shares during the quarter. Hennessy Advisors Inc.’s holdings in Jabil were worth $3,698,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Wellington Management Group LLP raised its position in shares of Jabil by 12.9% in the 1st quarter. Wellington Management Group LLP now owns 6,556,153 shares of the technology company’s stock worth $892,096,000 after acquiring an additional 747,423 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Jabil by 15.7% in the first quarter. JPMorgan Chase & Co. now owns 2,173,095 shares of the technology company’s stock worth $295,693,000 after purchasing an additional 295,496 shares in the last quarter. Northern Trust Corp lifted its position in shares of Jabil by 8.3% during the first quarter. Northern Trust Corp now owns 1,384,364 shares of the technology company’s stock valued at $188,370,000 after buying an additional 105,632 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Jabil by 119.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,215,678 shares of the technology company’s stock valued at $165,417,000 after buying an additional 662,938 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Jabil by 3.4% in the 1st quarter. Bank of New York Mellon Corp now owns 1,118,282 shares of the technology company’s stock worth $152,165,000 after buying an additional 37,201 shares during the last quarter. Institutional investors own 93.39% of the company’s stock.

Jabil Price Performance

Shares of NYSE JBL opened at $202.22 on Friday. Jabil, Inc. has a 52 week low of $108.66 and a 52 week high of $237.14. The business’s 50 day moving average price is $215.60 and its 200 day moving average price is $187.15. The company has a quick ratio of 0.66, a current ratio of 1.00 and a debt-to-equity ratio of 1.57. The firm has a market cap of $21.70 billion, a P/E ratio of 33.93, a P/E/G ratio of 1.43 and a beta of 1.26.

Jabil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were paid a $0.08 dividend. The ex-dividend date was Friday, August 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.2%. Jabil’s dividend payout ratio is presently 5.37%.

Insider Buying and Selling at Jabil

In related news, Director Steven A. Raymund sold 13,432 shares of the business’s stock in a transaction on Monday, July 21st. The shares were sold at an average price of $223.11, for a total transaction of $2,996,813.52. Following the completion of the transaction, the director directly owned 86,396 shares in the company, valued at $19,275,811.56. The trade was a 13.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Andrew Priestley sold 3,782 shares of the stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $225.00, for a total value of $850,950.00. Following the sale, the executive vice president directly owned 48,535 shares in the company, valued at $10,920,375. This represents a 7.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 85,416 shares of company stock worth $18,367,889. 1.73% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. UBS Group set a $241.00 target price on shares of Jabil in a research note on Sunday, September 28th. Barclays raised their price objective on Jabil from $223.00 to $267.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Jabil in a research report on Saturday, September 27th. The Goldman Sachs Group raised their price target on Jabil from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, June 18th. Finally, Raymond James Financial set a $260.00 price objective on shares of Jabil in a report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Jabil currently has an average rating of “Moderate Buy” and a consensus price target of $248.43.

About Jabil

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).