Principal Financial Group Inc. Cuts Position in Jabil Inc. (NYSE:JBL)

Principal Financial Group Inc. decreased its holdings in Jabil Inc. (NYSE:JBL) by 1.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 137,273 shares of the technology company’s stock after selling 1,558 shares during the period. Principal Financial Group Inc. owned approximately 0.12% of Jabil worth $16,449,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. HHM Wealth Advisors LLC acquired a new stake in shares of Jabil in the 2nd quarter valued at about $28,000. Innealta Capital LLC acquired a new stake in shares of Jabil in the 2nd quarter valued at about $31,000. Family Firm Inc. acquired a new stake in shares of Jabil in the 2nd quarter valued at about $37,000. Matrix Trust Co raised its stake in shares of Jabil by 135.4% in the 3rd quarter. Matrix Trust Co now owns 372 shares of the technology company’s stock valued at $45,000 after purchasing an additional 214 shares in the last quarter. Finally, Armstrong Advisory Group Inc. raised its stake in shares of Jabil by 114.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 428 shares of the technology company’s stock valued at $51,000 after purchasing an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on JBL. JPMorgan Chase & Co. dropped their price objective on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Barclays increased their price objective on shares of Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Bank of America increased their price objective on shares of Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Stifel Nicolaus increased their price objective on shares of Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $143.50.

Jabil Trading Down 0.5 %

JBL stock opened at $128.26 on Friday. The business has a fifty day moving average price of $121.26 and a 200 day moving average price of $115.40. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $156.94. The stock has a market capitalization of $14.47 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 1.55 and a beta of 1.24. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.08. The firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.59 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The company’s revenue was down 17.7% on a year-over-year basis. During the same period last year, the company earned $2.34 earnings per share. Analysts expect that Jabil Inc. will post 7.84 EPS for the current fiscal year.

Jabil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. Jabil’s dividend payout ratio (DPR) is presently 2.90%.

Insider Activity

In other news, EVP Frederic E. Mccoy sold 4,283 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $122.28, for a total transaction of $523,725.24. Following the completion of the transaction, the executive vice president now directly owns 142,472 shares of the company’s stock, valued at $17,421,476.16. This trade represents a 2.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Francis Mckay sold 11,755 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the transaction, the senior vice president now directly owns 41,507 shares of the company’s stock, valued at $5,051,816.97. This represents a 22.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,689 shares of company stock valued at $5,377,431 in the last ninety days. 2.62% of the stock is owned by insiders.

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).