Tobam ​​sells 21,388 shares of Jabil Inc. (NYSE:JBL)

Tobam ​​reduced its stake in Jabil Inc. (NYSE:JBL – Free Report) by 33.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,438 shares of the technology company’s stock after selling 21,388 shares during the quarter. Tobam’s holdings in Jabil were worth $5,085,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Benjamin Edwards Inc. bought a new position in shares of Jabil in the first quarter worth approximately $25,000. HHM Wealth Advisors LLC bought a new position in shares of Jabil during the second quarter valued at about $28,000. ORG Partners LLC bought a new position in shares of Jabil in the first quarter worth approximately $29,000. Inçalta Capital LLC bought a new position in shares of Jabil in the 2nd quarter worth approximately $31,000. Finally, Riverview Trust Co bought a new position in shares of Jabil in the first quarter worth about $33,000. Institutional investors own 93.39% of the company’s shares.

Analysts on Wall Street are forecasting an increase

A number of research firms recently weighed in on JBL. UBS Group dropped their target price on Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, June 21st. Barclays upped their target price on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Stifel Nicolaus boosted their target price on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, September 27th. JPMorgan Chase & Co. dropped their target price on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Finally, Bank of America boosted their target price on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.86, according to MarketBeat.

Check out our latest research report on JBL

Jabil trading down 1.2%

Shares of NYSE JBL traded down $1.52 during midday trading on Thursday, hitting $122.50. The stock had a trading volume of 333,680 shares, compared to its average volume of 1,484,894. The company’s 50-day simple moving average is $109.02, and its 200-day simple moving average is $115.88. The firm has a market cap of $13.90 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 2.23 and a beta of 1.25. Jabil Inc. it has a fifty-two week low of $95.85 and a fifty-two week high of $156.94. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13, and a quick ratio of 0.74.

Jabil (NYSE:JBL – Get Your Free Report ) last announced its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.08. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The business had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.59 billion. In the same period last year, the company earned $2.34 per share. The company’s quarterly revenue was down 17.7% compared to the same quarter last year. Research analysts anticipate that Jabil Inc. will post 7.85 EPS for the current year.

Jabil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, August 15. This represents a dividend of $0.32 on an annualized basis and a dividend yield of 0.26%. Jabil’s dividend payout ratio (DPR) is currently 2.91%.

Insider buying and selling

In other Jabil news, EVP Frederic E. McCoy sold 1,250 shares of Jabil stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $116.42, for a total transaction of $145,525.00. Following the transaction, the executive vice president now directly owns 112,753 shares in the company, valued at approximately $13,126,704.26. The transaction represented a decrease of 0.00 % in the stock holding. The transaction was disclosed in a legal filing with the SEC, which is accessible via this link. In other Jabil news, EVP Frederic E. McCoy sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $118.70, for a total value of $474,800.00. Following the sale, the executive vice president now owns 108,753 shares in the company, valued at $12,908,981.10. This represents a 0.00 % decrease in ownership of the shares. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Frederic E. McCoy sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $116.42, for a total value of $145,525.00. Following the completion of the sale, the executive vice president now owns 112,753 shares in the company, valued at $13,126,704.26. This represents a 0.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,524 shares of company stock worth $1,120,554 over the last three months. Company insiders own 2.62% of the company’s shares.

About Jabil

(Free report)

Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronic Manufacturing Services and Diversified Manufacturing Services. The company provides design, production and management services for electronic products; 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 electromechanics such as printed circuit board assemblies (PCBAs).

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