Boston Partners Trims Stake in Jabil Inc. (NYSE:JBL)

Boston Partners trimmed its holdings in shares of Jabil Inc. (NYSE:JBL) by 11.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,277,037 shares of the technology company’s stock after selling 165,174 shares during the period. Boston Partners’ holdings in Jabil were worth $137,586,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in JBL. Fiduciary Alliance LLC bought a new stake in Jabil during the second quarter worth about $26,000. Altshuler Shaham Ltd bought a new stake in Jabil during the first quarter worth about $31,000. Crewe Advisors LLC lifted its stake in Jabil by 73.3% during the second quarter. Crewe Advisors LLC now owns 390 shares of the technology company’s stock worth $42,000 after purchasing an additional 165 shares during the last quarter. Amundi lifted its stake in Jabil by 419.8% during the fourth quarter. Amundi now owns 421 shares of the technology company’s stock worth $32,000 after purchasing an additional 340 shares during the last quarter. Finally, Endurance Wealth Management Inc. bought a new stake in Jabil during the first quarter worth about $39,000. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Thomas A. Sansone sold 19,000 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $120.42, for a total value of $2,287,980.00. Following the sale, the director now owns 374,325 shares in the company, valued at approximately $45,076,216.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Jabil news, Director Thomas A. Sansone sold 19,000 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $120.42, for a total transaction of $2,287,980.00. Following the sale, the director now directly owns 374,325 shares in the company, valued at approximately $45,076,216.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Daryn G. Smith sold 1,541 shares of the stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $137.76, for a total value of $212,288.16. Following the sale, the senior vice president now owns 58,669 shares in the company, valued at $8,082,241.44. The disclosure for this sale can be found here. Insiders have sold 314,601 shares of company stock worth $40,201,576 in the last 90 days. Insiders own 2.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on JBL shares. Raymond James boosted their target price on Jabil from $120.00 to $160.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 11th. StockNews.com lowered Jabil from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Stifel Nicolaus boosted their target price on Jabil from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, September 29th. Bank of America boosted their target price on Jabil from $126.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, September 25th. Finally, Barclays upped their price target on Jabil from $134.00 to $144.00 and gave the company an “overweight” rating in a research report on Friday, September 29th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $120.00.

Jabil Stock Up 0.5 %

JBL stock opened at $131.41 on Friday. Jabil Inc. has a fifty-two week low of $64.74 and a fifty-two week high of $141.38. The business’s 50 day moving average price is $123.21 and its two-hundred day moving average price is $108.73. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.75 and a current ratio of 1.16. The company has a market capitalization of $16.81 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 1.28 and a beta of 1.41.

Jabil (NYSE:JBL) last posted its earnings results on Thursday, September 28th. The technology company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.13. Jabil had a return on equity of 38.02% and a net margin of 2.36%. The firm had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.54 billion. During the same quarter in the prior year, the business earned $2.25 EPS. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, analysts forecast that Jabil Inc. will post 8.67 earnings per share for the current fiscal year.

Jabil declared that its Board of Directors has approved a share buyback program on Thursday, September 28th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 15.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Wednesday, November 15th will be paid a $0.08 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. Jabil’s payout ratio is currently 5.33%.

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).