Bartlett & CO. Wealth Management LLC Decreases Stock Position in Jabil, Inc. $JBL

Bartlett & CO. Wealth Management LLC cut its stake in Jabil, Inc. (NYSE:JBL) by 12.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,513 shares of the technology company’s stock after selling 801 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Jabil were worth $1,202,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP grew its holdings in Jabil by 12.9% during the 1st quarter. Wellington Management Group LLP now owns 6,556,153 shares of the technology company’s stock valued at $892,096,000 after purchasing an additional 747,423 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Jabil by 119.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,215,678 shares of the technology company’s stock valued at $165,417,000 after buying an additional 662,938 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of Jabil during the first quarter valued at approximately $81,378,000. Wedge Capital Management L L P NC purchased a new stake in shares of Jabil in the first quarter worth approximately $51,257,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Jabil by 28,071.4% during the 1st quarter. Jones Financial Companies Lllp now owns 343,409 shares of the technology company’s stock worth $46,728,000 after acquiring an additional 342,190 shares during the last quarter. Institutional investors own 93.39% of the company’s stock.

Jabil Trading Down 1.0%

NYSE JBL opened at $214.90 on Thursday. Jabil, Inc. has a one year low of $108.66 and a one year high of $237.14. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.66 and a current ratio of 1.00. The company has a market capitalization of $23.06 billion, a price-to-earnings ratio of 36.06, a price-to-earnings-growth ratio of 1.54 and a beta of 1.26. The company’s 50-day simple moving average is $216.05 and its two-hundred day simple moving average is $185.83.

Jabil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, August 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.1%. Jabil’s dividend payout ratio is currently 5.37%.

Analyst Upgrades and Downgrades

Several brokerages have commented on JBL. The Goldman Sachs Group upped their price objective on Jabil from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday, June 18th. Barclays upped their price target on shares of Jabil from $223.00 to $267.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Bank of America lifted their price objective on shares of Jabil from $245.00 to $255.00 and gave the company a “buy” rating in a report on Friday, September 26th. Stifel Nicolaus began coverage on shares of Jabil in a research note on Wednesday, July 2nd. They issued a “buy” rating and a $245.00 target price on the stock. Finally, Wall Street Zen lowered shares of Jabil from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Jabil currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.43.

Insider Buying and Selling

In other news, EVP Andrew Priestley sold 3,702 shares of Jabil stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $225.00, for a total value of $832,950.00. Following the transaction, the executive vice president directly owned 44,833 shares in the company, valued at approximately $10,087,425. This trade represents a 7.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Frederic E. Mccoy sold 4,500 shares of the company’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $223.55, for a total value of $1,005,975.00. Following the sale, the executive vice president owned 124,203 shares of the company’s stock, valued at $27,765,580.65. This trade represents a 3.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,416 shares of company stock worth $14,071,089 over the last quarter. Insiders own 1.73% of the company’s stock.

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).