Guggenheim Capital LLC cut its holdings in Jabil Inc. (NYSE:JBL – Get Rating) by 19.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,941 shares of the technology company’s stock after selling 2,446 shares during the quarter. Guggenheim Capital LLC’s holdings in Jabil were worth $574,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of JBL. Field & Main Bank bought a new position in Jabil during the 3rd quarter valued at about $35,000. Zions Bancorporation N.A. bought a new position in shares of Jabil in the 1st quarter worth approximately $40,000. Ronald Blue Trust Inc. bought a new stake in Jabil during the 2nd quarter worth approximately $70,000. Amundi raised its stake in Jabil by 30.6% during the 2nd quarter. Amundi now owns 1,489 shares of the technology company’s stock worth $77,000 after acquiring an additional 349 shares during the period. Finally, Exchange Traded Concepts LLC bought a new stake in Jabil during the 3rd quarter worth approximately $101,000. 88.45% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on JBL. StockNews.com lowered shares of Jabil from a “strong-buy” rating to a “buy” rating in a report on Friday, March 3rd. Citigroup lifted their price objective on shares of Jabil from $80.00 to $85.00 in a research note on Friday, December 16th. Credit Suisse Group lifted their price objective on shares of Jabil from $90.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 21st. Finally, UBS Group assumed coverage on shares of Jabil in a research note on Tuesday, December 13th. They set a “neutral” rating and a $76.00 price objective for the company. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $82.40.
Insider Buying and Selling at Jabil
Jabil Stock Performance
JBL stock opened at $81.91 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.02 and a quick ratio of 0.57. The business has a 50-day moving average price of $79.66 and a 200 day moving average price of $69.50. The company has a market capitalization of $10.92 billion, a P/E ratio of 11.89, a PEG ratio of 0.90 and a beta of 1.43. Jabil Inc. has a 1-year low of $48.80 and a 1-year high of $85.70.
Jabil (NYSE:JBL – Get Rating) last released its quarterly earnings data on Thursday, December 15th. The technology company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.28). The firm had revenue of $9.64 billion during the quarter, compared to the consensus estimate of $9.28 billion. Jabil had a net margin of 2.83% and a return on equity of 40.43%. As a group, equities research analysts forecast that Jabil Inc. will post 7.81 EPS for the current fiscal year.
Jabil Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 2nd. Shareholders of record on Wednesday, February 15th were paid a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, February 14th. This represents a $0.32 annualized dividend and a yield of 0.39%. Jabil’s dividend payout ratio (DPR) is presently 4.64%.
Jabil, Inc engages in the provision of electronic manufacturing services and solutions. It offers electronics design, production, product management, and repair services to companies in the automotive and transportation, capital equipment, consumer lifestyles and wearable technologies, computing and storage, defense and aerospace, digital home, healthcare, industrial and energy, mobility, networking and telecommunications, packaging, point of sale, and printing industries.
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