Point72 Asia Singapore Pte. Ltd. Lowers Position in Jabil Inc. (NYSE:JBL)

Point72 Asia Singapore Pte. Ltd. lessened its holdings in Jabil Inc. (NYSE:JBL) by 60.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,757 shares of the technology company’s stock after selling 14,792 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Jabil were worth $1,169,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in JBL. Pacer Advisors Inc. raised its position in shares of Jabil by 12,251.7% in the third quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock worth $264,391,000 after buying an additional 2,188,521 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Jabil in the second quarter worth $78,660,000. AQR Capital Management LLC raised its position in shares of Jabil by 195.8% in the second quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock worth $115,404,000 after buying an additional 702,199 shares in the last quarter. FMR LLC raised its position in shares of Jabil by 11.3% in the third quarter. FMR LLC now owns 5,116,308 shares of the technology company’s stock worth $613,087,000 after buying an additional 520,672 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Jabil by 29.0% in the second quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock valued at $150,463,000 after acquiring an additional 310,590 shares during the last quarter. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Jabil Stock Up 1.9 %

Shares of NYSE:JBL opened at $135.83 on Monday. The stock’s 50-day moving average price is $126.30 and its 200-day moving average price is $116.38. Jabil Inc. has a 12-month low of $95.85 and a 12-month high of $156.94. The stock has a market capitalization of $15.33 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 1.60 and a beta of 1.24. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66.

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

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. Jabil’s dividend payout ratio is currently 2.90%.

Insider Transactions at Jabil

In other Jabil news, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $124.70, for a total value of $2,494,000.00. Following the completion of the sale, the director now directly owns 139,108 shares in the company, valued at $17,346,767.60. This trade represents a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Francis Mckay sold 11,755 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the completion of the sale, the senior vice president now owns 41,507 shares of the company’s stock, valued at $5,051,816.97. This trade represents a 22.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,689 shares of company stock worth $5,377,431. Company insiders own 2.62% of the company’s stock.

Analyst Upgrades and Downgrades

JBL has been the topic of a number of research analyst reports. Barclays increased their target price on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Stifel Nicolaus increased their target price on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, September 27th. StockNews.com raised Jabil from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. Bank of America increased their target price on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, JPMorgan Chase & Co. reduced their target price on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Jabil presently has an average rating of “Moderate Buy” and a consensus price target of $143.50.

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).