M&T Bank Corp Sells 6,294 Shares of Jabil Inc. (NYSE:JBL)

M&T Bank Corp trimmed its stake in shares of Jabil Inc. (NYSE:JBL) by 26.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,527 shares of the technology company’s stock after selling 6,294 shares during the quarter. M&T Bank Corp’s holdings in Jabil were worth $2,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. FMR LLC increased its holdings in Jabil by 15.9% in the third quarter. FMR LLC now owns 10,525,084 shares of the technology company’s stock worth $1,335,528,000 after purchasing an additional 1,440,857 shares in the last quarter. Artisan Partners Limited Partnership bought a new stake in Jabil in the third quarter worth approximately $124,319,000. Caisse DE Depot ET Placement DU Quebec bought a new stake in Jabil in the third quarter worth approximately $57,818,000. Ceredex Value Advisors LLC increased its holdings in Jabil by 72,212.5% in the fourth quarter. Ceredex Value Advisors LLC now owns 289,250 shares of the technology company’s stock worth $36,850,000 after purchasing an additional 288,850 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Jabil in the third quarter worth approximately $35,172,000. 93.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on JBL. Barclays reduced their price objective on Jabil from $151.00 to $149.00 and set an “overweight” rating for the company in a research note on Monday, March 18th. StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. The Goldman Sachs Group raised their price objective on Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Finally, Argus cut Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $144.50.

Jabil Stock Up 0.1 %

Shares of NYSE:JBL opened at $117.53 on Thursday. The business’s 50 day moving average is $132.38 and its 200 day moving average is $129.74. The company has a quick ratio of 0.72, a current ratio of 1.17 and a debt-to-equity ratio of 1.08. Jabil Inc. has a 12-month low of $77.43 and a 12-month high of $156.94. The stock has a market cap of $14.17 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 1.25 and a beta of 1.42.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Friday, March 15th. The technology company reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.01). Jabil had a return on equity of 39.47% and a net margin of 4.70%. The business had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.91 billion. On average, sell-side analysts forecast that Jabil Inc. will post 7.83 earnings per share for the current fiscal year.

Jabil Dividend Announcement

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

Insiders Place Their Bets

In other Jabil news, SVP May Yee Yap sold 7,877 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $139.65, for a total value of $1,100,023.05. Following the sale, the senior vice president now directly owns 29,006 shares in the company, valued at $4,050,687.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Jabil news, SVP May Yee Yap sold 7,877 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $139.65, for a total value of $1,100,023.05. Following the sale, the senior vice president now directly owns 29,006 shares in the company, valued at $4,050,687.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kenneth S. Wilson sold 15,000 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $134.20, for a total value of $2,013,000.00. Following the completion of the sale, the chief executive officer now owns 339,725 shares in the company, valued at $45,591,095. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,877 shares of company stock valued at $9,824,383. 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).