Jabil Inc. (NYSE:JBL) Shares Sold by Boston Partners

Boston Partners lowered its stake in Jabil Inc. (NYSE:JBL) by 11.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,277,037 shares of the technology company’s stock after selling 165,174 shares during the quarter. Boston Partners owned about 0.98% of Jabil worth $137,586,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of JBL. FMR LLC raised its position in Jabil by 27.5% in the first quarter. FMR LLC now owns 8,552,930 shares of the technology company’s stock worth $754,026,000 after acquiring an additional 1,844,254 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Jabil by 71.2% during the 1st quarter. JPMorgan Chase & Co. now owns 6,232,495 shares of the technology company’s stock worth $549,457,000 after buying an additional 2,591,893 shares during the period. State Street Corp raised its holdings in Jabil by 3.0% during the 1st quarter. State Street Corp now owns 4,454,878 shares of the technology company’s stock worth $275,000,000 after buying an additional 127,736 shares during the period. Wellington Management Group LLP acquired a new stake in Jabil during the 1st quarter worth about $384,818,000. Finally, LSV Asset Management raised its holdings in Jabil by 5.8% during the 2nd quarter. LSV Asset Management now owns 4,026,017 shares of the technology company’s stock worth $434,528,000 after buying an additional 221,458 shares during the period. Institutional investors and hedge funds own 92.88% of the company’s stock.

Jabil Stock Up 0.5 %

Shares of JBL stock opened at $131.41 on Friday. Jabil Inc. has a 12 month low of $64.74 and a 12 month high of $141.38. The firm has a market cap of $16.81 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 1.28 and a beta of 1.41. The stock has a 50 day moving average of $123.21 and a 200-day moving average of $108.73. The company has a quick ratio of 0.75, a current ratio of 1.16 and a debt-to-equity ratio of 1.00.

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

Jabil Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 0.24%. Jabil’s payout ratio is 5.33%.

Jabil announced that its Board of Directors has approved a stock repurchase program on Thursday, September 28th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the technology company to buy up to 15.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have issued reports on JBL. Stifel Nicolaus boosted their price objective on Jabil from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, September 29th. Raymond James upped their target price on Jabil from $120.00 to $160.00 and gave the company a “strong-buy” rating in a report on Wednesday, October 11th. Barclays upped their target price on Jabil from $134.00 to $144.00 and gave the company an “overweight” rating in a report on Friday, September 29th. Bank of America upped their target price on Jabil from $126.00 to $130.00 and gave the company a “buy” rating in a report on Monday, September 25th. Finally, StockNews.com downgraded Jabil from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $120.00.

Insider Activity at Jabil

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 completion of the transaction, the director now directly owns 374,325 shares in the company, valued at $45,076,216.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 completion of the transaction, the director now directly owns 374,325 shares in the company, valued at $45,076,216.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kenneth S. Wilson sold 20,000 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $126.32, for a total value of $2,526,400.00. Following the transaction, the chief executive officer now owns 364,725 shares of the company’s stock, valued at $46,072,062. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 314,601 shares of company stock worth $40,201,576. 2.75% of the stock is owned by corporate insiders.

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).