Quadrant Capital Group LLC Cuts Stock Position in Jabil Inc. (NYSE:JBL)

Quadrant Capital Group LLC lessened its stake in shares of Jabil Inc. (NYSE:JBL) by 7.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,620 shares of the technology company’s stock after selling 298 shares during the quarter. Quadrant Capital Group LLC’s holdings in Jabil were worth $391,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Parallel Advisors LLC grew its holdings in Jabil by 2.4% during the second quarter. Parallel Advisors LLC now owns 4,469 shares of the technology company’s stock worth $482,000 after acquiring an additional 106 shares during the period. Raleigh Capital Management Inc. grew its holdings in Jabil by 19.8% during the second quarter. Raleigh Capital Management Inc. now owns 647 shares of the technology company’s stock worth $70,000 after acquiring an additional 107 shares during the period. Forum Financial Management LP grew its holdings in Jabil by 4.0% during the second quarter. Forum Financial Management LP now owns 3,372 shares of the technology company’s stock worth $364,000 after acquiring an additional 129 shares during the period. Signet Financial Management LLC grew its holdings in Jabil by 0.5% during the second quarter. Signet Financial Management LLC now owns 26,148 shares of the technology company’s stock worth $2,822,000 after acquiring an additional 134 shares during the period. Finally, AdvisorShares Investments LLC grew its holdings in Jabil by 25.1% during the first quarter. AdvisorShares Investments LLC now owns 688 shares of the technology company’s stock worth $61,000 after acquiring an additional 138 shares during the period. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Analyst Ratings Changes

JBL has been the topic of several research reports. StockNews.com lowered Jabil from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. 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. Stifel Nicolaus upped their target price on Jabil from $120.00 to $135.00 and gave the company a “buy” 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, Argus increased their price objective on Jabil from $125.00 to $145.00 in a research note on Friday, September 29th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $120.00.

Jabil Stock Performance

NYSE JBL opened at $131.39 on Friday. The business’s 50-day moving average price is $123.21 and its 200 day moving average price is $108.94. Jabil Inc. has a twelve month low of $64.74 and a twelve month high of $141.38. The company has a market capitalization 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 company has a current ratio of 1.16, a quick ratio of 0.75 and a debt-to-equity ratio of 1.00.

Jabil (NYSE:JBL) last released its earnings results on Thursday, September 28th. The technology company reported $2.45 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the business posted $2.25 earnings per share. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, research analysts predict that Jabil Inc. will post 8.67 earnings per share for the current year.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Wednesday, November 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.32 annualized dividend and a yield of 0.24%. Jabil’s dividend payout ratio (DPR) is presently 5.33%.

Jabil declared that its Board of Directors has approved a stock repurchase program on Thursday, September 28th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the technology company to buy up to 15.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Michael Dastoor sold 4,289 shares of the stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $137.77, for a total transaction of $590,895.53. Following the transaction, the chief financial officer now directly owns 154,985 shares in the company, valued at $21,352,283.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Michael Dastoor sold 4,289 shares of the firm’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $137.77, for a total value of $590,895.53. Following the transaction, the chief financial officer now directly owns 154,985 shares in the company, valued at approximately $21,352,283.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kenneth S. Wilson sold 15,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $127.87, for a total value of $1,918,050.00. Following the completion of the transaction, the chief executive officer now owns 304,750 shares in the company, valued at $38,968,382.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 314,601 shares of company stock worth $40,201,576. 2.75% of the stock is owned by company 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).