Jabil Inc. (NYSE:JBL) Shares Sold by Commerce Bank

Commerce Bank decreased its holdings in shares of Jabil Inc. (NYSE:JBL) by 22.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,888 shares of the technology company’s stock after selling 2,043 shares during the quarter. Commerce Bank’s holdings in Jabil were worth $825,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Janus Henderson Group PLC increased its position in Jabil by 4.8% during the first quarter. Janus Henderson Group PLC now owns 444,736 shares of the technology company’s stock worth $59,536,000 after purchasing an additional 20,437 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of Jabil by 32.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 22,900 shares of the technology company’s stock worth $2,906,000 after buying an additional 5,606 shares during the period. Redwood Investment Management LLC boosted its holdings in Jabil by 1.4% in the first quarter. Redwood Investment Management LLC now owns 11,228 shares of the technology company’s stock valued at $1,504,000 after acquiring an additional 160 shares during the last quarter. Tidal Investments LLC grew its position in Jabil by 39.7% during the first quarter. Tidal Investments LLC now owns 14,282 shares of the technology company’s stock valued at $1,913,000 after acquiring an additional 4,056 shares during the period. Finally, Hancock Whitney Corp increased its stake in Jabil by 0.8% during the first quarter. Hancock Whitney Corp now owns 160,893 shares of the technology company’s stock worth $21,552,000 after acquiring an additional 1,337 shares during the last quarter. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Insider Activity at Jabil

In other Jabil news, EVP Frederic E. Mccoy sold 4,283 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $122.28, for a total value of $523,725.24. Following the completion of the transaction, the executive vice president now owns 142,472 shares in the company, valued at approximately $17,421,476.16. This represents a 2.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Francis Mckay sold 11,755 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the completion of the sale, the senior vice president now owns 41,507 shares in the company, valued at $5,051,816.97. The trade was a 22.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,689 shares of company stock worth $5,377,431 in the last 90 days. 2.62% of the stock is currently owned by company insiders.

Jabil Stock Performance

Shares of JBL opened at $134.03 on Tuesday. The stock has a market capitalization of $15.12 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24. The business’s fifty day moving average price is $124.39 and its 200 day moving average price is $115.92. 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 Inc. has a 12-month low of $95.85 and a 12-month high of $156.94.

Jabil (NYSE:JBL) last posted its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.22 by $0.08. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.59 billion. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The company’s quarterly revenue was down 17.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.34 EPS. Equities research analysts forecast that Jabil Inc. will post 7.84 EPS for the current year.

Jabil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend is Friday, November 15th. Jabil’s dividend payout ratio (DPR) is 2.90%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Bank of America upped their target price on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Stifel Nicolaus raised their target price on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, Barclays upped their price target on shares of Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $143.50.

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).