Freedom Investment Management Inc. Sells 104 Shares of Jabil Inc. (NYSE:JBL)

Freedom Investment Management Inc. decreased its holdings in Jabil Inc. (NYSE:JBL) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,151 shares of the technology company’s stock after selling 104 shares during the period. Freedom Investment Management Inc.’s holdings in Jabil were worth $617,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. HHM Wealth Advisors LLC purchased a new stake in shares of Jabil during the 2nd quarter valued at about $28,000. Innealta Capital LLC bought a new position in Jabil during the second quarter valued at approximately $31,000. Capital Performance Advisors LLP purchased a new stake in Jabil in the third quarter worth approximately $32,000. Family Firm Inc. bought a new stake in Jabil in the 2nd quarter worth approximately $37,000. Finally, Brooklyn Investment Group purchased a new stake in Jabil during the 3rd quarter valued at $39,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Francis Mckay sold 11,755 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the transaction, the senior vice president now owns 41,507 shares of the company’s stock, valued at approximately $5,051,816.97. The trade was a 22.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $124.70, for a total value of $2,494,000.00. Following the completion of the sale, the director now owns 139,108 shares of the company’s stock, valued at approximately $17,346,767.60. This represents a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,689 shares of company stock valued at $5,377,431 in the last three months. Corporate insiders own 2.62% of the company’s stock.

Jabil Stock Up 1.9 %

NYSE JBL opened at $135.83 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66. Jabil Inc. has a 12 month low of $95.85 and a 12 month high of $156.94. The stock’s 50 day moving average is $125.87 and its 200 day moving average is $116.27. The stock has a market cap of $15.33 billion, a PE ratio of 12.33, a P/E/G ratio of 1.57 and a beta of 1.24.

Jabil (NYSE:JBL) last issued its earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.08. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.59 billion. During the same quarter in the prior year, the business earned $2.34 earnings per share. Jabil’s revenue for the quarter was down 17.7% on a year-over-year basis. Research analysts predict that Jabil Inc. will post 7.84 EPS for the current fiscal year.

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.32 annualized dividend and a yield of 0.24%. Jabil’s dividend payout ratio (DPR) is currently 2.90%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on JBL. JPMorgan Chase & Co. dropped their price target on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Bank of America boosted their price target on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 27th. StockNews.com raised shares of Jabil from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Barclays raised their price objective on shares of Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Finally, Stifel Nicolaus increased their price target on shares of Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $143.50.

Jabil 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).