Intech Investment Management LLC Sells 13,277 Shares of Jabil Inc. (NYSE:JBL)

Intech Investment Management LLC reduced its holdings in shares of Jabil Inc. (NYSE:JBL) by 30.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,368 shares of the technology company’s stock after selling 13,277 shares during the quarter. Intech Investment Management LLC’s holdings in Jabil were worth $3,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Alaska Permanent Fund Corp bought a new position in shares of Jabil during the fourth quarter valued at $29,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of Jabil during the fourth quarter valued at $32,000. CVA Family Office LLC bought a new position in shares of Jabil during the fourth quarter valued at $36,000. Valley National Advisers Inc. bought a new position in Jabil in the fourth quarter valued at about $36,000. Finally, Hanseatic Management Services Inc. bought a new position in Jabil in the third quarter valued at about $48,000. 93.39% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Kenneth S. Wilson sold 15,000 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $134.20, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Kenneth S. Wilson sold 15,000 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $134.20, for a total transaction of $2,013,000.00. Following the completion of the transaction, the chief executive officer now directly owns 339,725 shares of the company’s stock, valued at $45,591,095. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gerald Creadon sold 3,000 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $135.62, for a total value of $406,860.00. Following the transaction, the executive vice president now directly owns 65,434 shares of the company’s stock, valued at $8,874,159.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,877 shares of company stock worth $9,824,383. 2.62% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Jabil Stock Performance

JBL traded up $0.81 during midday trading on Monday, reaching $119.60. The company had a trading volume of 1,147,300 shares, compared to its average volume of 1,392,381. The company has a quick ratio of 0.72, a current ratio of 1.17 and a debt-to-equity ratio of 1.08. The business has a 50-day moving average of $125.29 and a two-hundred day moving average of $129.22. The company has a market cap of $14.42 billion, a P/E ratio of 10.27, a P/E/G ratio of 1.48 and a beta of 1.42. Jabil Inc. has a 1 year low of $85.73 and a 1 year high of $156.94.

Jabil (NYSE:JBL) last issued its quarterly 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 return on equity of 39.47% and a net margin of 4.70%. The company had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.91 billion. As a group, equities research analysts predict that Jabil Inc. will post 7.83 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The firm 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 dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. The ex-dividend date is Tuesday, May 14th. Jabil’s dividend payout ratio is currently 2.75%.

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).