ExodusPoint Capital Management LP Has $19.91 Million Stake in Jabil Inc. (NYSE:JBL)

ExodusPoint Capital Management LP reduced its stake in Jabil Inc. (NYSE:JBL) by 5.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 184,463 shares of the technology company’s stock after selling 9,909 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.14% of Jabil worth $19,909,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of JBL. Fiduciary Alliance LLC purchased a new stake in Jabil in the 2nd quarter valued at $26,000. Bessemer Group Inc. raised its position in Jabil by 87.2% in the 2nd quarter. Bessemer Group Inc. now owns 234 shares of the technology company’s stock valued at $26,000 after buying an additional 109 shares during the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of Jabil during the 1st quarter valued at $31,000. Amundi increased its position in shares of Jabil by 419.8% during the 4th quarter. Amundi now owns 421 shares of the technology company’s stock valued at $32,000 after purchasing an additional 340 shares during the last quarter. Finally, Zions Bancorporation N.A. purchased a new stake in shares of Jabil during the 1st quarter valued at $40,000. 92.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Jabil

In related news, CEO Kenneth S. Wilson sold 20,000 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $126.32, for a total transaction of $2,526,400.00. Following the completion of the sale, the chief executive officer now owns 364,725 shares in the company, valued at $46,072,062. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Jabil news, SVP Daryn G. Smith sold 1,541 shares of the company’s stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $137.76, for a total value of $212,288.16. Following the completion of the sale, the senior vice president now owns 58,669 shares in the company, valued at $8,082,241.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Kenneth S. Wilson sold 20,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 364,725 shares of the company’s stock, valued at approximately $46,072,062. The disclosure for this sale can be found here. Insiders sold 314,601 shares of company stock worth $40,201,576 over the last quarter. 2.75% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on JBL shares. Raymond James lifted their price target on Jabil from $120.00 to $160.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 11th. Barclays raised their price objective 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 raised their price objective on Jabil from $126.00 to $130.00 and gave the company a “buy” rating in a report on Monday, September 25th. StockNews.com cut Jabil from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Finally, Stifel Nicolaus raised their price objective on Jabil from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, September 29th. Two research 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.

Jabil Trading Up 0.8 %

NYSE JBL opened at $132.42 on Tuesday. 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 Inc. has a twelve month low of $64.74 and a twelve month high of $141.38. The firm has a market capitalization of $16.94 billion, a PE ratio of 22.07, a P/E/G ratio of 1.28 and a beta of 1.41. The stock’s 50 day moving average is $123.71 and its 200 day moving average is $109.56.

Jabil (NYSE:JBL) last released its quarterly earnings results on Thursday, September 28th. The technology company reported $2.45 earnings per share for the quarter, beating 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 company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.54 billion. During the same period in the previous year, the company posted $2.25 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. Research 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 repurchase plan on Thursday, September 28th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the technology company to repurchase up to 15.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Jabil Dividend Announcement

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