Jabil Inc. (NYSE:JBL) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its holdings in shares of Jabil Inc. (NYSE:JBL) by 4.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 34,125 shares of the technology company’s stock after selling 1,754 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Jabil were worth $4,348,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the business. FMR LLC lifted its position in Jabil by 15.9% during the third quarter. FMR LLC now owns 10,525,084 shares of the technology company’s stock valued at $1,335,528,000 after purchasing an additional 1,440,857 shares during the period. Wellington Management Group LLP lifted its holdings in Jabil by 0.7% in the third quarter. Wellington Management Group LLP now owns 5,392,355 shares of the technology company’s stock valued at $684,236,000 after acquiring an additional 36,560 shares during the period. Norges Bank purchased a new stake in Jabil in the 4th quarter worth approximately $192,964,000. Northern Trust Corp grew its stake in shares of 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 period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Jabil by 29.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,111,281 shares of the technology company’s stock valued at $141,577,000 after purchasing an additional 249,889 shares in the last quarter. 93.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Argus lowered shares of Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. The Goldman Sachs Group lifted their price target on Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Finally, Barclays reduced their price objective on shares of Jabil from $151.00 to $149.00 and set an “overweight” rating for the company in a research report on Monday, March 18th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Jabil has a consensus rating of “Buy” and a consensus target price of $144.50.

Insider Activity

In related news, Chairman Mark T. Mondello sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $126.09, for a total transaction of $6,304,500.00. Following the completion of the sale, the chairman now directly owns 1,809,194 shares of the company’s stock, valued at approximately $228,121,271.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Mark T. Mondello sold 50,000 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $126.09, for a total transaction of $6,304,500.00. Following the transaction, the chairman now owns 1,809,194 shares of the company’s stock, valued at approximately $228,121,271.46. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP May Yee Yap sold 7,877 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $139.65, for a total transaction of $1,100,023.05. Following the sale, the senior vice president now owns 29,006 shares in the company, valued at $4,050,687.90. The disclosure for this sale can be found here. Insiders have sold a total of 75,877 shares of company stock valued at $9,824,383 in the last quarter. Insiders own 2.62% of the company’s stock.

Jabil Stock Performance

JBL opened at $119.60 on Friday. The firm has a market capitalization of $14.42 billion, a PE ratio of 10.27, a PEG ratio of 1.47 and a beta of 1.42. The company has a current ratio of 1.17, a quick ratio of 0.72 and a debt-to-equity ratio of 1.08. Jabil Inc. has a twelve month low of $85.73 and a twelve month high of $156.94. The firm’s 50-day moving average price is $125.29 and its 200 day moving average price is $129.18.

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

Jabil Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 0.27%. Jabil’s dividend payout ratio is currently 2.75%.

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).