Chevy Chase Trust Holdings LLC lowered its holdings in Jabil Inc. (NYSE:JBL - Free Report) by 7.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,824 shares of the technology company's stock after selling 5,095 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Jabil worth $7,289,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. HHM Wealth Advisors LLC purchased a new position in shares of Jabil during the 2nd quarter valued at about $28,000. Innealta Capital LLC purchased a new position in Jabil during the second quarter valued at approximately $31,000. Capital Performance Advisors LLP acquired a new position in Jabil in the third quarter valued at approximately $32,000. Family Firm Inc. purchased a new stake in Jabil in the 2nd quarter worth approximately $37,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Jabil during the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 93.39% of the company's stock.
In other news, EVP Frederic E. Mccoy sold 4,283 shares of the company's stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $122.28, for a total value of $523,725.24. Following the completion of the sale, the executive vice president now directly owns 142,472 shares in the company, valued at $17,421,476.16. This represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Francis Mckay sold 11,755 shares of Jabil stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $121.71, for a total value of $1,430,701.05. Following the transaction, the senior vice president now owns 41,507 shares in the company, valued at approximately $5,051,816.97. The trade was a 22.07 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,689 shares of company stock worth $5,377,431. 2.62% of the stock is owned by insiders.
JBL has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Jabil from $137.00 to $133.00 and set an "overweight" rating for the company in a research note on Tuesday, September 3rd. Barclays increased their target price on shares of Jabil from $135.00 to $157.00 and gave the stock an "overweight" rating in a research note on Friday, September 27th. StockNews.com upgraded Jabil from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, November 27th. Bank of America increased their price target on Jabil from $135.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday, September 27th. Finally, Stifel Nicolaus boosted their price objective on Jabil from $140.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Jabil has an average rating of "Moderate Buy" and an average target price of $145.17.
View Our Latest Stock Report on Jabil
JBL stock opened at $135.81 on Friday. Jabil Inc. has a 12-month low of $95.85 and a 12-month high of $156.94. The business's 50-day moving average is $127.66 and its 200 day moving average is $116.81. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66. The stock has a market cap of $15.33 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.60 and a beta of 1.25.
Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.22 by $0.08. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.59 billion. During the same period in the previous year, the company posted $2.34 earnings per share. The business's revenue was down 17.7% on a year-over-year basis. On average, sell-side analysts anticipate that Jabil Inc. will post 7.84 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. The ex-dividend date was Friday, November 15th. Jabil's dividend payout ratio is currently 2.90%.
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).
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