Connor Clark & Lunn Investment Management Ltd. Sells 88,244 Shares of Jabil Inc. (NYSE:JBL)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in Jabil Inc. (NYSE:JBL) by 79.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,457 shares of the technology company’s stock after selling 88,244 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Jabil were worth $3,232,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. FMR LLC lifted its holdings in shares of Jabil by 11.3% during the third quarter. FMR LLC now owns 5,116,308 shares of the technology company’s stock valued at $613,087,000 after purchasing an additional 520,672 shares in the last quarter. Primecap Management Co. CA boosted its holdings in shares of Jabil by 0.3% during the 3rd quarter. Primecap Management Co. CA now owns 3,692,560 shares of the technology company’s stock valued at $442,479,000 after acquiring an additional 9,685 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Jabil by 12,251.7% in the third quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock worth $264,391,000 after acquiring an additional 2,188,521 shares during the period. Charles Schwab Investment Management Inc. raised its holdings 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 valued at $150,406,000 after purchasing an additional 10,541 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Jabil by 15.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 903,526 shares of the technology company’s stock valued at $108,270,000 after purchasing an additional 118,376 shares during the period. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on JBL. The Goldman Sachs Group lifted their target price on shares of Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. StockNews.com cut Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Barclays raised their target price on Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Stifel Nicolaus restated a “buy” rating and set a $160.00 price target (up from $150.00) on shares of Jabil in a research note on Thursday, December 19th. Finally, UBS Group increased their price objective on shares of Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $158.83.

Jabil Trading Up 1.7 %

Shares of NYSE:JBL opened at $138.29 on Tuesday. The stock has a 50 day moving average of $156.99 and a 200 day moving average of $137.42. The company has a market cap of $15.10 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 1.65 and a beta of 1.19. Jabil Inc. has a 12-month low of $95.85 and a 12-month high of $174.80. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81.

Jabil (NYSE:JBL) last posted its quarterly earnings results on Wednesday, December 18th. The technology company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.12. The business had revenue of $6.99 billion during the quarter, compared to analyst estimates of $6.61 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company’s revenue was down 16.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.60 earnings per share. As a group, equities research analysts expect that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.23%. Jabil’s dividend payout ratio is presently 3.07%.

Insider Activity

In related news, Director Steven A. Raymund sold 20,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 119,108 shares of the company’s stock, valued at approximately $18,021,040.40. The trade was a 14.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Frederic E. Mccoy sold 4,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $149.81, for a total transaction of $599,240.00. Following the sale, the executive vice president now directly owns 138,472 shares of the company’s stock, valued at approximately $20,744,490.32. This trade represents a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,400 shares of company stock worth $12,804,458 over the last ninety days. 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).