DMC Group LLC Lowers Stock Holdings in Jabil, Inc. $JBL

DMC Group LLC lowered its holdings in Jabil, Inc. (NYSE:JBL) by 11.5% in the second quarter, Holdings Channel.com reports. The firm owned 1,349 shares of the technology company’s stock after selling 176 shares during the period. DMC Group LLC’s holdings in Jabil were worth $294,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV acquired a new stake in Jabil in the 1st quarter worth about $27,000. Harbor Capital Advisors Inc. boosted its position in shares of Jabil by 110.5% in the first quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company’s stock worth $30,000 after acquiring an additional 116 shares during the last quarter. Groupe la Francaise boosted its position in shares of Jabil by 35.2% in the first quarter. Groupe la Francaise now owns 246 shares of the technology company’s stock worth $34,000 after acquiring an additional 64 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in Jabil by 2,400.0% in the first quarter. Golden State Wealth Management LLC now owns 275 shares of the technology company’s stock valued at $37,000 after purchasing an additional 264 shares during the period. Finally, Wayfinding Financial LLC acquired a new position in Jabil during the first quarter worth approximately $52,000. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on JBL. Raymond James Financial set a $260.00 price target on shares of Jabil in a report on Thursday, September 25th. Wall Street Zen raised Jabil from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Zacks Research lowered Jabil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. The Goldman Sachs Group lifted their price objective on Jabil from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday, June 18th. Finally, Stifel Nicolaus started coverage on shares of Jabil in a research report on Wednesday, July 2nd. They set a “buy” rating and a $245.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $248.43.

Jabil Stock Up 0.2%

NYSE JBL opened at $202.64 on Wednesday. The stock has a market cap of $21.75 billion, a PE ratio of 34.00, a P/E/G ratio of 1.44 and a beta of 1.26. Jabil, Inc. has a fifty-two week low of $108.66 and a fifty-two week high of $237.14. The business has a 50 day moving average price of $214.59 and a two-hundred day moving average price of $187.96. The company has a quick ratio of 0.66, a current ratio of 1.00 and a debt-to-equity ratio of 1.57.

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were paid a $0.08 dividend. The ex-dividend date was Friday, August 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. Jabil’s dividend payout ratio is 5.37%.

Insider Activity

In other Jabil news, EVP Frederic E. Mccoy sold 4,500 shares of the company’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $223.55, for a total value of $1,005,975.00. Following the completion of the transaction, the executive vice president directly owned 124,203 shares of the company’s stock, valued at $27,765,580.65. This represents a 3.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven A. Raymund sold 13,432 shares of the company’s stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $223.11, for a total transaction of $2,996,813.52. Following the completion of the transaction, the director directly owned 86,396 shares of the company’s stock, valued at approximately $19,275,811.56. The trade was a 13.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,416 shares of company stock valued at $18,367,889 over the last ninety days. 1.73% of the stock is owned by company insiders.

Jabil Company 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).