Jabil Inc. (NYSE:JBL) Stake Reduced by Western Wealth Management LLC

Western Wealth Management LLC reduced its stake in shares of Jabil Inc. (NYSE:JBL) by 23.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,202 shares of the technology company’s stock after selling 657 shares during the quarter. Western Wealth Management LLC’s holdings in Jabil were worth $281,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. bought a new position in shares of Jabil in the third quarter worth $63,000. Lecap Asset Management Ltd. bought a new position in shares of Jabil in the fourth quarter worth $1,146,000. D.A. Davidson & CO. boosted its stake in Jabil by 15.3% during the third quarter. D.A. Davidson & CO. now owns 29,305 shares of the technology company’s stock valued at $3,719,000 after buying an additional 3,887 shares in the last quarter. Deutsche Bank AG boosted its stake in Jabil by 87.1% during the third quarter. Deutsche Bank AG now owns 185,371 shares of the technology company’s stock valued at $23,522,000 after buying an additional 86,285 shares in the last quarter. Finally, Cozad Asset Management Inc. boosted its stake in Jabil by 21.4% during the third quarter. Cozad Asset Management Inc. now owns 90,828 shares of the technology company’s stock valued at $11,525,000 after buying an additional 16,038 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

JBL has been the subject of several research reports. The Goldman Sachs Group raised their target price on Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, March 4th. StockNews.com downgraded Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. Argus downgraded Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Barclays reduced their target price on Jabil from $151.00 to $149.00 and set an “overweight” rating for the company in a report on Monday, March 18th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $144.50.

Jabil Stock Up 0.4 %

Shares of Jabil stock opened at $119.25 on Tuesday. The stock has a 50-day moving average price of $137.60 and a 200 day moving average price of $131.09. The company has a market cap of $14.38 billion, a P/E ratio of 10.24, a P/E/G ratio of 1.26 and a beta of 1.40. 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 Inc. has a 1 year low of $75.48 and a 1 year high of $156.94.

Jabil (NYSE:JBL) last posted its quarterly earnings results on Friday, March 15th. The technology company reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.01). Jabil had a return on equity of 39.47% and a net margin of 4.70%. The firm had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.91 billion. As a group, analysts expect that Jabil Inc. will post 7.83 EPS for the current fiscal year.

Jabil Dividend Announcement

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

Insider Transactions at Jabil

In other news, SVP May Yee Yap sold 7,877 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $139.65, for a total transaction 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 approximately $4,050,687.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Jabil news, Chairman Mark T. Mondello sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chairman now owns 1,809,194 shares of the company’s stock, valued at approximately $228,121,271.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP May Yee Yap sold 7,877 shares of the firm’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 in the company, valued at approximately $4,050,687.90. The disclosure for this sale can be found here. Insiders sold 107,177 shares of company stock valued at $13,678,039 in the last three months. Corporate insiders own 2.62% of the company’s stock.

About Jabil

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).