Amalgamated Bank Reduces Stock Position in Jabil, Inc. (NYSE:JBL)

Amalgamated Bank lessened its holdings in Jabil, Inc. (NYSE:JBL) by 1.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,541 shares of the technology company’s stock after selling 211 shares during the quarter. Amalgamated Bank’s holdings in Jabil were worth $2,931,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings in Jabil by 70,781.4% in the fourth quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company’s stock valued at $835,876,000 after buying an additional 5,800,535 shares during the last quarter. FMR LLC grew its holdings in shares of Jabil by 8.1% during the fourth quarter. FMR LLC now owns 5,533,149 shares of the technology company’s stock worth $796,220,000 after purchasing an additional 416,841 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Jabil by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company’s stock worth $404,024,000 after purchasing an additional 34,574 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Jabil by 18.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company’s stock worth $270,187,000 after purchasing an additional 288,806 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Jabil during the fourth quarter worth about $218,430,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Jabil Price Performance

Shares of NYSE:JBL opened at $224.55 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.98 and a debt-to-equity ratio of 1.85. The company has a market cap of $24.10 billion, a P/E ratio of 43.60, a PEG ratio of 1.58 and a beta of 1.20. Jabil, Inc. has a 52 week low of $95.85 and a 52 week high of $227.54. The company has a 50-day moving average price of $178.31 and a 200 day moving average price of $158.66.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Tuesday, June 17th. The technology company reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.27. The firm had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.03 billion. Jabil had a net margin of 2.02% and a return on equity of 60.19%. The firm’s revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.89 earnings per share. Research analysts predict that Jabil, Inc. will post 8.05 earnings per share for the current year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.14%. Jabil’s payout ratio is 6.21%.

Insider Activity at Jabil

In other news, SVP May Yee Yap sold 6,787 shares of Jabil stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $206.00, for a total transaction of $1,398,122.00. Following the completion of the sale, the senior vice president directly owned 25,582 shares in the company, valued at approximately $5,269,892. This trade represents a 20.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Francis Mckay sold 3,395 shares of Jabil stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $205.48, for a total transaction of $697,604.60. Following the sale, the senior vice president owned 38,112 shares of the company’s stock, valued at approximately $7,831,253.76. The trade was a 8.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 316,431 shares of company stock worth $60,571,609. 1.73% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on JBL. Stifel Nicolaus began coverage on Jabil in a report on Wednesday. They set a “buy” rating and a $245.00 price objective on the stock. Argus raised Jabil from a “hold” rating to a “buy” rating in a report on Wednesday, June 18th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $230.00 price objective (up previously from $170.00) on shares of Jabil in a report on Wednesday, June 18th. UBS Group raised their price objective on Jabil from $157.00 to $208.00 and gave the stock a “neutral” rating in a report on Wednesday, June 18th. Finally, Bank of America raised their price objective on Jabil from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, June 20th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Jabil presently has an average rating of “Buy” and an average target price of $225.71.

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).