Federated Hermes Inc. Sells 172,149 Shares of Jabil Inc. (NYSE:JBL)

Federated Hermes Inc. decreased its position in Jabil Inc. (NYSE:JBL) by 78.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,010 shares of the technology company’s stock after selling 172,149 shares during the quarter. Federated Hermes Inc.’s holdings in Jabil were worth $5,989,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. CVA Family Office LLC bought a new position in Jabil in the fourth quarter worth $36,000. Valley National Advisers Inc. bought a new position in shares of Jabil during the fourth quarter valued at $36,000. Hanseatic Management Services Inc. bought a new position in shares of Jabil during the third quarter valued at $48,000. Ceredex Value Advisors LLC bought a new position in shares of Jabil during the third quarter valued at $51,000. Finally, Allworth Financial LP increased its holdings in shares of Jabil by 745.8% during the fourth quarter. Allworth Financial LP now owns 406 shares of the technology company’s stock valued at $52,000 after acquiring an additional 358 shares in the last quarter. Institutional investors own 93.39% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Argus downgraded Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Barclays dropped their price objective on Jabil from $151.00 to $149.00 and set an “overweight” rating on the stock in a research report on Monday, March 18th. StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, The Goldman Sachs Group increased their price objective on Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, March 4th. One research 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $144.50.

Insider Activity

In other news, SVP May Yee Yap sold 7,877 shares of Jabil 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 transaction, 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 legal filing with the SEC, which can be accessed through this link. In related news, Chairman Mark T. Mondello sold 50,000 shares of Jabil stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $126.09, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP May Yee Yap sold 7,877 shares of Jabil 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 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 have sold a total of 107,177 shares of company stock valued at $13,678,039 in the last ninety days. Corporate insiders own 2.62% of the company’s stock.

Jabil Trading Down 1.5 %

Shares of NYSE:JBL opened at $118.48 on Friday. The stock has a market capitalization of $14.29 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 1.29 and a beta of 1.40. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.72 and a current ratio of 1.17. The stock’s 50-day simple moving average is $136.38 and its two-hundred day simple moving average is $130.86. Jabil Inc. has a 52-week low of $75.48 and a 52-week high of $156.94.

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

Jabil Announces Dividend

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

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).