Cerity Partners LLC Has $8.54 Million Stock Holdings in Jabil Inc. (NYSE:JBL)

Cerity Partners LLC lowered its stake in Jabil Inc. (NYSE:JBL) by 6.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 71,239 shares of the technology company’s stock after selling 4,808 shares during the quarter. Cerity Partners LLC owned approximately 0.06% of Jabil worth $8,537,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. HHM Wealth Advisors LLC acquired a new position in shares of Jabil during the 2nd quarter worth approximately $28,000. Innealta Capital LLC bought a new position in shares of Jabil in the second quarter valued at $31,000. Capital Performance Advisors LLP acquired a new position in Jabil during the third quarter worth $32,000. Family Firm Inc. bought a new stake in Jabil during the second quarter worth $37,000. Finally, Matrix Trust Co lifted its stake in Jabil by 135.4% in the third quarter. Matrix Trust Co now owns 372 shares of the technology company’s stock valued at $45,000 after acquiring an additional 214 shares during the last quarter. Institutional investors own 93.39% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on JBL. Stifel Nicolaus upped their target price on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, September 27th. Barclays upped their price objective on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. reduced their target price on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Finally, Bank of America increased their price target on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $143.50.

Jabil Stock Performance

NYSE:JBL opened at $132.70 on Wednesday. The stock has a 50 day simple moving average of $124.39 and a 200 day simple moving average of $115.92. The stock has a market cap of $14.97 billion, a P/E ratio of 12.04, a PEG ratio of 1.55 and a beta of 1.24. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $156.94. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66.

Jabil (NYSE:JBL) last announced its earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.08. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The company had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.59 billion. During the same quarter in the previous year, the business posted $2.34 earnings per share. Jabil’s quarterly revenue was down 17.7% on a year-over-year basis. Research analysts anticipate that Jabil Inc. will post 7.84 earnings per share for the current year.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. Jabil’s dividend payout ratio is presently 2.90%.

Insider Activity

In related news, SVP Francis Mckay sold 11,755 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $121.71, for a total value of $1,430,701.05. Following the transaction, the senior vice president now owns 41,507 shares in the company, valued at approximately $5,051,816.97. This trade represents a 22.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven A. Raymund sold 20,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $124.70, for a total transaction of $2,494,000.00. Following the sale, the director now directly owns 139,108 shares of the company’s stock, valued at $17,346,767.60. This represents a 12.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,689 shares of company stock worth $5,377,431. Corporate insiders own 2.62% 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).