CANADA LIFE ASSURANCE Co Reduces Stock Position in Jabil Inc. (NYSE:JBL)

CANADA LIFE ASSURANCE Co trimmed its stake in shares of Jabil Inc. (NYSE:JBL) by 29.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,451 shares of the technology company’s stock after selling 25,218 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.05% of Jabil worth $8,553,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of JBL. Meyer Handelman Co. acquired a new position in Jabil during the fourth quarter worth $7,334,000. Davis Investment Partners LLC acquired a new position in shares of Jabil during the 4th quarter worth $1,433,000. Truist Financial Corp boosted its position in shares of Jabil by 50.4% in the 4th quarter. Truist Financial Corp now owns 12,037 shares of the technology company’s stock worth $1,732,000 after buying an additional 4,034 shares in the last quarter. Merit Financial Group LLC acquired a new stake in Jabil in the 4th quarter valued at about $235,000. Finally, Keybank National Association OH purchased a new position in Jabil during the 4th quarter valued at about $214,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Jabil Price Performance

Shares of NYSE:JBL opened at $129.80 on Tuesday. The company has a market cap of $13.93 billion, a P/E ratio of 12.44, a P/E/G ratio of 1.65 and a beta of 1.12. The business has a fifty day simple moving average of $142.17 and a 200-day simple moving average of $141.75. 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.

Jabil (NYSE:JBL) last posted its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.83 by $0.11. The company had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.40 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The firm’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.68 EPS. Equities research analysts forecast that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Thursday, May 15th. Jabil’s dividend payout ratio is currently 7.66%.

Insider Buying and Selling at Jabil

In other news, Chairman Mark T. Mondello sold 20,000 shares of the firm’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $131.56, for a total value of $2,631,200.00. Following the transaction, the chairman now directly owns 1,730,192 shares in the company, valued at $227,624,059.52. This trade represents a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John C. Plant sold 50,000 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $172.55, for a total value of $8,627,500.00. Following the sale, the director now owns 5,900 shares of the company’s stock, valued at $1,018,045. The trade was a 89.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 73,400 shares of company stock worth $11,810,418 in the last quarter. 1.73% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on JBL shares. StockNews.com downgraded shares of Jabil from a “buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. lowered their target price on Jabil from $175.00 to $154.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Barclays boosted their price target on Jabil from $179.00 to $184.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. The Goldman Sachs Group decreased their price objective on Jabil from $175.00 to $146.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, UBS Group boosted their target price on shares of Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Jabil presently has an average rating of “Moderate Buy” and a consensus price target of $158.50.

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).