Retirement Systems of Alabama Sells 135,222 Shares of Jabil Inc. (NYSE:JBL)

Retirement Systems of Alabama lowered its stake in Jabil Inc. (NYSE:JBL) by 82.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,198 shares of the technology company’s stock after selling 135,222 shares during the quarter. Retirement Systems of Alabama’s holdings in Jabil were worth $3,592,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Alaska Permanent Fund Corp purchased a new stake in shares of Jabil during the 4th quarter worth approximately $29,000. CVA Family Office LLC bought a new position in Jabil during the fourth quarter valued at $36,000. Valley National Advisers Inc. purchased a new position in shares of Jabil in the 4th quarter worth $36,000. Hanseatic Management Services Inc. bought a new stake in shares of Jabil in the 3rd quarter worth about $48,000. Finally, Allworth Financial LP raised its position in shares of Jabil by 745.8% during the 4th quarter. Allworth Financial LP now owns 406 shares of the technology company’s stock valued at $52,000 after buying an additional 358 shares in the last quarter. Institutional investors own 93.39% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Mark T. Mondello sold 50,000 shares of Jabil stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $126.09, for a total value of $6,304,500.00. Following the completion of the sale, the chairman now directly owns 1,809,194 shares in the company, valued at $228,121,271.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Mark T. Mondello sold 50,000 shares of Jabil stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $126.09, for a total transaction of $6,304,500.00. Following the transaction, the chairman now directly owns 1,809,194 shares of the company’s stock, valued at $228,121,271.46. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gerald Creadon sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $135.62, for a total transaction of $406,860.00. Following the completion of the transaction, the executive vice president now directly owns 65,434 shares of the company’s stock, valued at approximately $8,874,159.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,877 shares of company stock worth $9,824,383. 2.62% of the stock is currently owned by company insiders.

Jabil Trading Down 1.3 %

NYSE JBL opened at $117.43 on Wednesday. The stock has a market cap of $14.16 billion, a PE ratio of 10.08, a PEG ratio of 1.25 and a beta of 1.42. Jabil Inc. has a 12 month low of $77.22 and a 12 month high of $156.94. The company’s 50-day moving average price is $132.87 and its 200-day moving average price is $129.83. The company has a current ratio of 1.17, a quick ratio of 0.72 and a debt-to-equity ratio of 1.08.

Jabil (NYSE:JBL) last issued its earnings results 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 company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.91 billion. Jabil had a return on equity of 39.47% and a net margin of 4.70%. Equities research analysts forecast that Jabil Inc. will post 7.83 earnings per share for the current year.

Jabil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date is Tuesday, May 14th. Jabil’s dividend payout ratio (DPR) is presently 2.75%.

Wall Street Analysts Forecast Growth

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

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).