Western Wealth Management LLC Sells 657 Shares of Jabil Inc. (NYSE:JBL)

Western Wealth Management LLC trimmed its position in Jabil Inc. (NYSE:JBL) by 23.0% in the fourth quarter, Holdings Channel reports. The fund owned 2,202 shares of the technology company’s stock after selling 657 shares during the quarter. Western Wealth Management LLC’s holdings in Jabil were worth $281,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. FMR LLC lifted its stake in shares of Jabil by 15.9% in the 3rd quarter. FMR LLC now owns 10,525,084 shares of the technology company’s stock valued at $1,335,528,000 after acquiring an additional 1,440,857 shares during the last quarter. Wellington Management Group LLP raised its position in Jabil by 0.7% during the 3rd quarter. Wellington Management Group LLP now owns 5,392,355 shares of the technology company’s stock worth $684,236,000 after purchasing an additional 36,560 shares during the last quarter. Bank of New York Mellon Corp raised its position in Jabil by 7.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,513,406 shares of the technology company’s stock worth $192,036,000 after purchasing an additional 99,174 shares during the last quarter. Northern Trust Corp raised its position in Jabil by 13.8% during the 3rd quarter. Northern Trust Corp now owns 1,162,838 shares of the technology company’s stock worth $147,553,000 after purchasing an additional 141,383 shares during the last quarter. Finally, Artisan Partners Limited Partnership bought a new position in Jabil during the 3rd quarter worth $124,319,000. 93.39% of the stock is currently owned by institutional investors.

Jabil Stock Performance

JBL stock opened at $119.25 on Tuesday. The stock has a 50-day moving average price of $137.60 and a 200-day moving average price of $131.09. Jabil Inc. has a 1-year low of $75.48 and a 1-year high of $156.94. The company has a current ratio of 1.17, a quick ratio of 0.72 and a debt-to-equity ratio of 1.08. The firm has a market cap of $14.38 billion, a PE ratio of 10.24, a price-to-earnings-growth ratio of 1.26 and a beta of 1.40.

Jabil (NYSE:JBL) last issued its earnings results on Friday, March 15th. The technology company reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.01). Jabil had a net margin of 4.70% and a return on equity of 39.47%. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.91 billion. As a group, equities research analysts expect that Jabil Inc. will post 7.83 earnings per share for the current year.

Jabil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Wednesday, May 15th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date is Tuesday, May 14th. Jabil’s payout ratio is 2.75%.

Analyst Ratings Changes

Several brokerages recently issued reports on JBL. The Goldman Sachs Group raised their target price on Jabil from $141.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Barclays lowered their target price on Jabil from $151.00 to $149.00 and set an “overweight” rating for the company in a research report on Monday, March 18th. Argus lowered Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, StockNews.com downgraded Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Jabil presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.50.

Insider Activity at Jabil

In related news, Director David M. Stout sold 31,300 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $123.12, for a total value of $3,853,656.00. Following the completion of the sale, the director now directly owns 67,300 shares of the company’s stock, valued at approximately $8,285,976. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director David M. Stout sold 31,300 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $123.12, for a total value of $3,853,656.00. Following the completion of the sale, the director now directly owns 67,300 shares of the company’s stock, valued at approximately $8,285,976. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP May Yee Yap sold 7,877 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $139.65, for a total value of $1,100,023.05. Following the completion of the sale, the senior vice president now directly owns 29,006 shares of the company’s stock, valued at $4,050,687.90. The disclosure for this sale can be found here. Insiders sold 107,177 shares of company stock valued at $13,678,039 in the last three months. Corporate insiders own 2.62% of the company’s stock.

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).