Advisor Resource Council Cuts Stock Position in Jabil Inc. (NYSE:JBL)

Advisor Resource Council trimmed its position in shares of Jabil Inc. (NYSE:JBL) by 54.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,489 shares of the technology company’s stock after selling 5,360 shares during the period. Advisor Resource Council’s holdings in Jabil were worth $572,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Arcus Capital Partners LLC purchased a new stake in shares of Jabil during the first quarter worth approximately $257,000. DMC Group LLC purchased a new stake in shares of Jabil during the first quarter worth approximately $220,000. Monument Capital Management increased its stake in shares of Jabil by 1.1% during the first quarter. Monument Capital Management now owns 20,996 shares of the technology company’s stock worth $2,812,000 after buying an additional 226 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Jabil by 30.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 331,373 shares of the technology company’s stock worth $44,387,000 after buying an additional 76,573 shares during the period. Finally, SteelPeak Wealth LLC purchased a new stake in shares of Jabil during the first quarter worth approximately $2,083,000. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on JBL shares. StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Barclays lowered their price target on Jabil from $149.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Argus downgraded Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Bank of America lowered their price target on Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a report on Friday, June 21st. Finally, UBS Group lowered their price target on Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, June 21st. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $142.63.

Jabil Stock Performance

Shares of JBL stock traded up $1.57 during trading hours on Thursday, hitting $110.10. The stock had a trading volume of 1,053,467 shares, compared to its average volume of 2,045,070. The firm has a market capitalization of $13.28 billion, a PE ratio of 10.02, a PEG ratio of 1.94 and a beta of 1.27. Jabil Inc. has a twelve month low of $100.18 and a twelve month high of $156.94. The stock’s 50 day moving average is $116.76 and its 200 day moving average is $127.37. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.74.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Thursday, June 20th. The technology company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.53 billion. During the same period last year, the company earned $1.85 earnings per share. The company’s revenue for the quarter was down 20.2% on a year-over-year basis. As a group, research analysts forecast that Jabil Inc. will post 7.86 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Wednesday, May 15th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.29%. The ex-dividend date was Tuesday, May 14th. Jabil’s dividend payout ratio is presently 2.91%.

Insider Buying and Selling

In related news, CEO Kenneth S. Wilson sold 15,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $134.20, for a total transaction of $2,013,000.00. Following the completion of the sale, the chief executive officer now directly owns 339,725 shares of the company’s stock, valued at $45,591,095. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Jabil news, SVP May Yee Yap sold 7,877 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $139.65, for a total value of $1,100,023.05. Following the completion of the transaction, the senior vice president now owns 29,006 shares in the company, valued at $4,050,687.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kenneth S. Wilson sold 15,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $134.20, for a total value of $2,013,000.00. Following the completion of the transaction, the chief executive officer now owns 339,725 shares of the company’s stock, valued at approximately $45,591,095. The disclosure for this sale can be found here. Corporate insiders own 2.62% of the company’s stock.

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).