Swedbank AB Sells 4,943 Shares of Jabil Inc. (NYSE:JBL)

Swedbank AB decreased its position in Jabil Inc. (NYSE:JBL) by 11.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,460 shares of the technology company’s stock after selling 4,943 shares during the quarter. Swedbank AB’s holdings in Jabil were worth $4,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. HHM Wealth Advisors LLC purchased a new stake in Jabil during the second quarter valued at $28,000. Innealta Capital LLC purchased a new stake in shares of Jabil during the 2nd quarter valued at about $31,000. Capital Performance Advisors LLP purchased a new position in Jabil in the third quarter worth about $32,000. Family Firm Inc. bought a new stake in Jabil during the second quarter worth approximately $37,000. Finally, Matrix Trust Co lifted its stake in shares of Jabil by 135.4% in the 3rd quarter. Matrix Trust Co now owns 372 shares of the technology company’s stock valued at $45,000 after purchasing an additional 214 shares during the last quarter. 93.39% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Jabil news, EVP Matthew Crowley sold 1,380 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $125.83, for a total value of $173,645.40. Following the completion of the sale, the executive vice president now directly owns 18,568 shares in the company, valued at $2,336,411.44. This trade represents a 6.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Francis Mckay sold 11,755 shares of the company’s stock in a transaction 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 directly owns 41,507 shares in the company, valued at approximately $5,051,816.97. The trade was a 22.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,689 shares of company stock worth $5,377,431 over the last 90 days. Company insiders own 2.62% of the company’s stock.

Jabil Trading Up 0.5 %

Shares of NYSE JBL opened at $133.35 on Thursday. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $156.94. The firm has a market cap of $15.05 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.58 and a beta of 1.24. The business has a fifty day simple moving average of $124.91 and a two-hundred day simple moving average of $116.03. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 1.66.

Jabil (NYSE:JBL) last issued its earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.08. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The company had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.59 billion. During the same period in the prior year, the business earned $2.34 EPS. The firm’s quarterly revenue was down 17.7% on a year-over-year basis. Analysts expect that Jabil Inc. will post 7.84 earnings per share for the current fiscal year.

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date is Friday, November 15th. Jabil’s dividend payout ratio (DPR) is 2.90%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on JBL shares. Stifel Nicolaus increased their price target on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, September 27th. Bank of America upped their price target on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 27th. JPMorgan Chase & Co. dropped their target price on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Barclays increased their price target on Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Finally, StockNews.com upgraded Jabil from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Jabil has a consensus rating of “Moderate Buy” and a consensus target price of $143.50.

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).