Gateway Investment Advisers LLC Trims Stock Position in Jabil Inc. (NYSE:JBL)

Gateway Investment Advisers LLC lessened its holdings in shares of Jabil Inc. (NYSE:JBL) by 10.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,695 shares of the technology company’s stock after selling 532 shares during the period. Gateway Investment Advisers LLC’s holdings in Jabil were worth $639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in JBL. SBI Securities Co. Ltd. purchased a new position in shares of Jabil during the fourth quarter worth $27,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Jabil during the fourth quarter worth $29,000. Millstone Evans Group LLC purchased a new position in shares of Jabil during the fourth quarter worth $37,000. First Horizon Advisors Inc. raised its holdings in shares of Jabil by 90.3% during the fourth quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company’s stock worth $39,000 after purchasing an additional 130 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Jabil by 113.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 297 shares of the technology company’s stock valued at $43,000 after buying an additional 158 shares during the period. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on JBL. UBS Group raised their price target on shares of Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. The Goldman Sachs Group dropped their price target on shares of Jabil from $175.00 to $146.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Wall Street Zen upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research report on Monday, May 19th. JPMorgan Chase & Co. dropped their target price on shares of Jabil from $175.00 to $154.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Finally, Barclays lifted their target price on shares of Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Jabil presently has a consensus rating of “Moderate Buy” and an average price target of $158.50.

Jabil Price Performance

Shares of JBL opened at $177.42 on Tuesday. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $179.37. The firm’s 50 day moving average price is $150.94 and its 200 day moving average price is $149.76. The company has a market cap of $19.05 billion, a P/E ratio of 17.01, a PEG ratio of 1.65 and a beta of 1.14. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

Jabil (NYSE:JBL) last posted its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same quarter in the previous year, the business posted $1.68 EPS. The firm’s revenue was down .6% on a year-over-year basis. On average, research analysts forecast that Jabil Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.18%. The ex-dividend date was Thursday, May 15th. Jabil’s payout ratio is 7.66%.

Insider Activity

In related news, CEO Michael Dastoor sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $169.90, for a total value of $1,699,000.00. Following the completion of the sale, the chief executive officer now owns 221,693 shares in the company, valued at $37,665,640.70. This represents a 4.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark T. Mondello sold 20,000 shares of the company’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $131.56, for a total transaction of $2,631,200.00. Following the completion of the sale, the chairman now owns 1,730,192 shares of the company’s stock, valued at approximately $227,624,059.52. This trade represents a 1.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,000 shares of company stock worth $7,665,200. Corporate insiders own 1.73% of the company’s stock.

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).