Caprock Group LLC Sells 214 Shares of Jabil Inc. (NYSE:JBL)

Caprock Group LLC lessened its stake in shares of Jabil Inc. (NYSE:JBL) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,093 shares of the technology company’s stock after selling 214 shares during the quarter. Caprock Group LLC’s holdings in Jabil were worth $1,569,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of JBL. Point72 Asset Management L.P. bought a new position in shares of Jabil during the 2nd quarter worth approximately $78,660,000. AQR Capital Management LLC raised its position in Jabil by 195.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock valued at $115,404,000 after purchasing an additional 702,199 shares during the last quarter. Bank of New York Mellon Corp raised its position in Jabil by 29.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock valued at $150,463,000 after purchasing an additional 310,590 shares during the last quarter. Victory Capital Management Inc. raised its position in Jabil by 72.0% in the 2nd quarter. Victory Capital Management Inc. now owns 490,499 shares of the technology company’s stock valued at $53,361,000 after purchasing an additional 205,331 shares during the last quarter. Finally, Railway Pension Investments Ltd bought a new position in Jabil in the 2nd quarter valued at $17,200,000. Institutional investors own 93.39% of the company’s stock.

Jabil Stock Up 0.5 %

NYSE JBL opened at $128.18 on Thursday. The stock has a fifty day moving average of $122.79 and a 200-day moving average of $115.65. The stock has a market capitalization of $14.46 billion, a P/E ratio of 11.63, a price-to-earnings-growth ratio of 1.51 and a beta of 1.24. Jabil Inc. has a 52 week low of $95.85 and a 52 week high of $156.94. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.72 and a current ratio of 1.09.

Jabil (NYSE:JBL) last released its 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. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The company had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.59 billion. During the same period last year, the firm earned $2.34 EPS. The business’s revenue for the quarter was down 17.7% on a year-over-year basis. On average, equities research analysts forecast that Jabil Inc. will post 7.84 EPS for the current year.

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. Jabil’s dividend payout ratio (DPR) is presently 2.90%.

Analysts Set New Price Targets

JBL has been the subject of several research analyst reports. Barclays lifted their price objective on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Stifel Nicolaus lifted their price objective on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. cut their price objective on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Finally, Bank of America lifted their price objective on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Jabil has a consensus rating of “Moderate Buy” and an average target price of $143.50.

Insider Buying and Selling

In other Jabil news, SVP Francis Mckay sold 11,755 shares of Jabil stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the transaction, the senior vice president now directly owns 41,507 shares in the company, valued at approximately $5,051,816.97. The trade was a 22.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Matthew Crowley sold 1,380 shares of Jabil stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $125.83, for a total value of $173,645.40. Following the transaction, the executive vice president now owns 18,568 shares in the company, valued at approximately $2,336,411.44. This represents a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,689 shares of company stock valued at $5,377,431 over the last three months. Company insiders own 2.62% 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).