Assetmark Inc. Sells 14,426 Shares of Jabil Inc. (NYSE:JBL)

Assetmark Inc. cut its holdings in Jabil Inc. (NYSE:JBL) by 49.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,849 shares of the technology company’s stock after selling 14,426 shares during the period. Assetmark Inc.’s holdings in Jabil were worth $1,892,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC increased its stake 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 acquiring an additional 1,440,857 shares during the period. Wellington Management Group LLP increased its stake in Jabil by 0.7% during 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 bought a new position in Jabil during the fourth quarter valued at about $192,964,000. Northern Trust Corp increased its stake in Jabil by 13.8% during the third quarter. Northern Trust Corp now owns 1,162,838 shares of the technology company’s stock valued at $147,553,000 after acquiring an additional 141,383 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Jabil by 29.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,111,281 shares of the technology company’s stock valued at $141,577,000 after acquiring an additional 249,889 shares during the period. 93.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on JBL shares. Barclays decreased their price objective on Jabil from $151.00 to $149.00 and set an “overweight” rating on the stock in a report on Monday, March 18th. StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. The Goldman Sachs Group lifted their price objective on Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a report on Monday, March 4th. Finally, Argus downgraded Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $144.50.

Insiders Place Their Bets

In other Jabil news, SVP May Yee Yap sold 7,877 shares of the company’s stock in a transaction on 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 transaction, the senior vice president now owns 29,006 shares of the company’s stock, valued at approximately $4,050,687.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Jabil news, Chairman Mark T. Mondello sold 50,000 shares of the company’s stock in a transaction on 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 document filed with the SEC, which can be accessed through this link. Also, SVP May Yee Yap sold 7,877 shares of the company’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 transaction, the senior vice president now directly owns 29,006 shares in the company, valued at approximately $4,050,687.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,877 shares of company stock valued at $9,824,383. 2.62% of the stock is currently owned by corporate insiders.

Jabil Stock Up 0.7 %

Shares of JBL opened at $119.60 on Friday. The company has a market capitalization of $14.42 billion, a P/E ratio of 10.27, a PEG ratio of 1.48 and a beta of 1.42. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.17 and a quick ratio of 0.72. Jabil Inc. has a one year low of $85.73 and a one year high of $156.94. The business’s 50 day simple moving average is $125.29 and its 200-day simple moving average is $129.20.

Jabil (NYSE:JBL) last announced its earnings results on Friday, March 15th. The technology company reported $1.54 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.01). The business had revenue of $6.77 billion during the quarter, compared to analyst estimates 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 predict that Jabil Inc. will post 7.83 EPS for the current fiscal year.

Jabil Dividend Announcement

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

Jabil Company 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).