Jabil Inc. (NYSE:JBL) Stock Position Lessened by Brighton Jones LLC

Brighton Jones LLC trimmed its holdings in shares of Jabil Inc. (NYSE:JBL) by 21.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,045 shares of the technology company’s stock after selling 575 shares during the quarter. Brighton Jones LLC’s holdings in Jabil were worth $261,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Simplicity Solutions LLC bought a new stake in shares of Jabil during the 3rd quarter worth about $342,000. Commonwealth Equity Services LLC boosted its stake in Jabil by 5.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 29,966 shares of the technology company’s stock valued at $3,802,000 after purchasing an additional 1,561 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new stake in shares of Jabil in the 3rd quarter worth $221,000. NorthRock Partners LLC acquired a new stake in Jabil in the 3rd quarter valued at about $240,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Jabil by 7.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,513,406 shares of the technology company’s stock worth $192,036,000 after purchasing an additional 99,174 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors.

Jabil Stock Performance

Shares of JBL stock opened at $117.19 on Friday. The company has a market capitalization of $14.13 billion, a price-to-earnings ratio of 10.06, a P/E/G ratio of 1.23 and a beta of 1.42. Jabil Inc. has a 1-year low of $75.48 and a 1-year high of $156.94. The company has a current ratio of 1.17, a quick ratio of 0.72 and a debt-to-equity ratio of 1.08. The stock’s fifty day simple moving average is $134.24 and its 200-day simple moving average is $130.19.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Friday, March 15th. The technology company reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.01). The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.91 billion. Jabil had a return on equity of 39.47% and a net margin of 4.70%. On average, sell-side analysts predict that Jabil Inc. will post 7.83 earnings per share for the current fiscal year.

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 15th will be paid a $0.08 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.32 annualized dividend and a yield of 0.27%. Jabil’s dividend payout ratio is presently 2.75%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on JBL shares. StockNews.com upgraded shares of Jabil from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. The Goldman Sachs Group boosted their target price on Jabil from $141.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Argus lowered Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Barclays cut their price objective on Jabil from $151.00 to $149.00 and set an “overweight” rating on the stock in a report on Monday, March 18th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $144.50.

Insiders Place Their Bets

In other news, CEO Kenneth S. Wilson sold 15,000 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $134.20, for a total value of $2,013,000.00. Following the transaction, the chief executive officer now directly owns 339,725 shares of the company’s stock, valued at $45,591,095. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Jabil news, SVP May Yee Yap sold 7,877 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $139.65, for a total value of $1,100,023.05. Following the completion of the sale, the senior vice president now directly owns 29,006 shares of the company’s stock, valued at $4,050,687.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kenneth S. Wilson sold 15,000 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $134.20, for a total transaction of $2,013,000.00. Following the transaction, the chief executive officer now owns 339,725 shares in the company, valued at approximately $45,591,095. The disclosure for this sale can be found here. Insiders sold a total of 75,877 shares of company stock worth $9,824,383 in the last quarter. 2.62% of the stock is currently owned by corporate insiders.

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).