Jabil Inc. (NYSE:JBL) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lessened its stake in shares of Jabil Inc. (NYSE:JBL) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,708 shares of the technology company’s stock after selling 80 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Jabil were worth $324,000 at the end of the most recent reporting period.

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

Jabil Stock Performance

NYSE JBL opened at $133.35 on Thursday. 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 business’s 50 day moving average is $124.91 and its two-hundred day moving average is $116.03. The stock has a market capitalization of $15.05 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 1.58 and a beta of 1.24. Jabil Inc. has a 12-month low of $95.85 and a 12-month high of $156.94.

Jabil (NYSE:JBL) last announced its quarterly earnings data 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 firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.59 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. Jabil’s quarterly revenue was down 17.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.34 earnings per share. Research analysts expect that Jabil Inc. will post 7.84 EPS for the current year.

Jabil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be issued a dividend of $0.08 per share. 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 is currently 2.90%.

Insiders Place Their Bets

In other Jabil news, Director Steven A. Raymund sold 20,000 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $124.70, for a total value of $2,494,000.00. Following the sale, the director now owns 139,108 shares of the company’s stock, valued at approximately $17,346,767.60. This represents a 12.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Frederic E. Mccoy sold 4,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total value of $474,800.00. Following the completion of the transaction, the executive vice president now owns 108,753 shares of the company’s stock, valued at approximately $12,908,981.10. This represents a 3.55 % 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 company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on JBL shares. Stifel Nicolaus lifted their target price on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, September 27th. Barclays upped their target price on shares of Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a report on Friday, September 27th. StockNews.com upgraded Jabil from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Bank of America increased their price objective on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, JPMorgan Chase & Co. lowered 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 equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.50.

Jabil Company 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).