Aster Capital Management DIFC Ltd Trims Stake in Jabil Inc. (NYSE:JBL)

Aster Capital Management DIFC Ltd cut its position in shares of Jabil Inc. (NYSE:JBL) by 20.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 9,970 shares of the technology company’s stock after selling 2,614 shares during the quarter. Aster Capital Management DIFC Ltd’s holdings in Jabil were worth $1,435,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Jabil by 70,781.4% during the fourth quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company’s stock valued at $835,876,000 after buying an additional 5,800,535 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Jabil by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company’s stock valued at $404,024,000 after acquiring an additional 34,574 shares during the period. JPMorgan Chase & Co. grew its position in Jabil by 18.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company’s stock valued at $270,187,000 after acquiring an additional 288,806 shares during the last quarter. Norges Bank purchased a new stake in Jabil in the fourth quarter worth $218,430,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Jabil by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,045,213 shares of the technology company’s stock worth $150,406,000 after purchasing an additional 10,541 shares during the last quarter. 93.39% of the stock is currently owned by institutional investors.

Jabil Stock Performance

Shares of JBL stock opened at $117.13 on Friday. The firm has a market cap of $12.79 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.65 and a beta of 1.12. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $174.80. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The company’s 50 day moving average is $150.60 and its 200 day moving average is $140.47.

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

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil’s payout ratio is 7.66%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a report on Monday, February 24th. StockNews.com upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research note on Friday, March 21st. Stifel Nicolaus reaffirmed a “buy” rating and set a $160.00 price target (up previously from $150.00) on shares of Jabil in a research note on Thursday, December 19th. Barclays increased their price objective on Jabil from $179.00 to $184.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. lifted their target price on Jabil from $172.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $167.50.

Insider Activity

In other news, Director John C. Plant sold 50,000 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $172.55, for a total transaction of $8,627,500.00. Following the completion of the sale, the director now owns 5,900 shares in the company, valued at approximately $1,018,045. This represents a 89.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $151.30, for a total value of $3,026,000.00. Following the completion of the sale, the director now directly owns 119,108 shares of the company’s stock, valued at $18,021,040.40. The trade was a 14.38 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,400 shares of company stock worth $12,205,218. 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).