Rockefeller Capital Management L.P. Sells 9,636 Shares of Jabil Inc. (NYSE:JBL)

Rockefeller Capital Management L.P. lowered its holdings in shares of Jabil Inc. (NYSE:JBLGet Rating) by 20.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,753 shares of the technology company’s stock after selling 9,636 shares during the period. Rockefeller Capital Management L.P.’s holdings in Jabil were worth $2,178,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Rockland Trust Co. bought a new stake in Jabil during the third quarter worth about $232,000. Nisa Investment Advisors LLC lifted its stake in shares of Jabil by 154.8% in the second quarter. Nisa Investment Advisors LLC now owns 93,522 shares of the technology company’s stock worth $4,789,000 after buying an additional 56,822 shares in the last quarter. Martingale Asset Management L P lifted its stake in shares of Jabil by 1.1% in the second quarter. Martingale Asset Management L P now owns 27,581 shares of the technology company’s stock worth $1,413,000 after buying an additional 307 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in shares of Jabil by 7.8% in the third quarter. Great West Life Assurance Co. Can now owns 99,896 shares of the technology company’s stock worth $5,762,000 after buying an additional 7,211 shares in the last quarter. Finally, Aviva PLC bought a new position in shares of Jabil in the second quarter worth approximately $2,578,000. Institutional investors own 88.45% of the company’s stock.

Jabil Stock Down 0.5 %

Shares of Jabil stock opened at $80.64 on Wednesday. The company has a market cap of $10.75 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 0.85 and a beta of 1.37. The company’s 50 day moving average is $71.37 and its 200 day moving average is $64.00. Jabil Inc. has a twelve month low of $48.80 and a twelve month high of $81.62. The company has a quick ratio of 0.57, a current ratio of 1.02 and a debt-to-equity ratio of 1.02.

Jabil (NYSE:JBLGet Rating) last announced its earnings results on Thursday, December 15th. The technology company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.28). Jabil had a net margin of 2.83% and a return on equity of 40.43%. The business had revenue of $9.64 billion for the quarter, compared to analysts’ expectations of $9.28 billion. Research analysts anticipate that Jabil Inc. will post 7.81 EPS for the current year.

Jabil announced that its Board of Directors has initiated a share buyback program on Tuesday, September 27th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to repurchase up to 12.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Jabil in a research note on Wednesday, October 12th. They issued a “strong-buy” rating on the stock. UBS Group assumed coverage on shares of Jabil in a research note on Tuesday, December 13th. They issued a “neutral” rating and a $76.00 target price on the stock. Citigroup upped their target price on shares of Jabil from $80.00 to $85.00 in a research note on Friday, December 16th. Credit Suisse Group increased their price objective on shares of Jabil from $81.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, January 18th. Finally, Raymond James lowered their price objective on shares of Jabil from $80.00 to $72.00 in a research report on Wednesday, September 28th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Jabil currently has an average rating of “Buy” and a consensus target price of $78.40.

Insider Buying and Selling at Jabil

In other Jabil news, SVP Daryn G. Smith sold 17,618 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $65.96, for a total transaction of $1,162,083.28. Following the completion of the sale, the senior vice president now directly owns 60,819 shares of the company’s stock, valued at $4,011,621.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Jabil news, SVP May Yee Yap sold 3,616 shares of the company’s stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $81.10, for a total transaction of $293,257.60. Following the completion of the sale, the senior vice president now directly owns 38,398 shares of the company’s stock, valued at $3,114,077.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Daryn G. Smith sold 17,618 shares of the stock in a transaction on Friday, October 28th. The stock was sold at an average price of $65.96, for a total transaction of $1,162,083.28. Following the completion of the sale, the senior vice president now directly owns 60,819 shares of the company’s stock, valued at $4,011,621.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 231,961 shares of company stock valued at $17,077,557. Insiders own 2.75% of the company’s stock.

About Jabil

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Jabil, Inc engages in the provision of electronic manufacturing services and solutions. It offers electronics design, production, product management, and repair services to companies in the automotive and transportation, capital equipment, consumer lifestyles and wearable technologies, computing and storage, defense and aerospace, digital home, healthcare, industrial and energy, mobility, networking and telecommunications, packaging, point of sale, and printing industries.

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Institutional Ownership by Quarter for Jabil (NYSE:JBL)

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