Corebridge Financial Inc. Reduces Stock Position in Jabil Inc. (NYSE:JBL)

Corebridge Financial Inc. decreased its position in Jabil Inc. (NYSE:JBL) by 6.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,807 shares of the technology company’s stock after selling 1,842 shares during the quarter. Corebridge Financial Inc.’s holdings in Jabil were worth $3,858,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in Jabil by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,045,213 shares of the technology company’s stock worth $150,406,000 after buying an additional 10,541 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Jabil by 15.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 903,526 shares of the technology company’s stock valued at $108,270,000 after acquiring an additional 118,376 shares in the last quarter. Two Sigma Advisers LP increased its position in Jabil by 406.5% during the 3rd quarter. Two Sigma Advisers LP now owns 722,800 shares of the technology company’s stock valued at $86,613,000 after purchasing an additional 580,100 shares during the period. Victory Capital Management Inc. raised its holdings in Jabil by 50.8% in the 4th quarter. Victory Capital Management Inc. now owns 627,041 shares of the technology company’s stock worth $90,231,000 after purchasing an additional 211,168 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its position in shares of Jabil by 29.0% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 574,938 shares of the technology company’s stock worth $68,895,000 after purchasing an additional 129,400 shares during the period. 93.39% of the stock is owned by institutional investors.

Jabil Stock Down 2.5 %

JBL stock opened at $135.97 on Monday. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The business has a 50 day moving average of $154.45 and a 200 day moving average of $139.84. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $174.80. The firm has a market cap of $14.84 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.65 and a beta of 1.19.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.11. The company had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.40 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. Jabil’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.68 EPS. On average, research analysts forecast that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. The ex-dividend date was Tuesday, February 18th. Jabil’s dividend payout ratio (DPR) is currently 7.66%.

Insider Activity at Jabil

In related news, Director Steven A. Raymund sold 20,000 shares of Jabil stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $151.30, for a total value of $3,026,000.00. Following the completion of the sale, the director now directly owns 119,108 shares in the company, valued at approximately $18,021,040.40. This trade represents a 14.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Frederic E. Mccoy sold 4,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $149.81, for a total transaction of $599,240.00. Following the transaction, the executive vice president now owns 138,472 shares in the company, valued at $20,744,490.32. This represents a 2.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,400 shares of company stock valued at $12,804,458. 1.73% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on JBL shares. UBS Group boosted their price target on shares of Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Barclays upped their target price on Jabil from $179.00 to $184.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Stifel Nicolaus reissued a “buy” rating and issued a $160.00 target price (up previously from $150.00) on shares of Jabil in a research report on Thursday, December 19th. The Goldman Sachs Group lifted their price target on Jabil from $160.00 to $179.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. increased their price objective on Jabil from $172.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Jabil has an average rating of “Moderate Buy” and an average price target of $167.50.

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).