Jabil Inc. (NYSE:JBL) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its position in shares of Jabil Inc. (NYSE:JBL) by 44.6% during the fourth quarter, Holdings Channel reports. The firm owned 87,976 shares of the technology company’s stock after selling 70,849 shares during the quarter. Ameriprise Financial Inc.’s holdings in Jabil were worth $12,660,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in JBL. SBI Securities Co. Ltd. acquired a new position in Jabil during the fourth quarter worth approximately $27,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Jabil in the 4th quarter valued at $29,000. Millstone Evans Group LLC acquired a new position in shares of Jabil in the 4th quarter valued at $37,000. First Horizon Advisors Inc. raised its position in Jabil by 90.3% in the 4th quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company’s stock valued at $39,000 after purchasing an additional 130 shares during the last quarter. Finally, GHP Investment Advisors Inc. acquired a new stake in Jabil during the 4th quarter worth $43,000. 93.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on JBL shares. StockNews.com cut shares of Jabil from a “buy” rating to a “hold” rating in a report on Friday, April 18th. Barclays boosted their price target on Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. The Goldman Sachs Group decreased their price objective on Jabil from $175.00 to $146.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. UBS Group lifted their target price on Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. cut their price target on Jabil from $175.00 to $154.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.50.

Jabil Trading Up 0.8%

NYSE JBL opened at $167.88 on Monday. The stock has a market capitalization of $18.02 billion, a P/E ratio of 16.10, a P/E/G ratio of 1.65 and a beta of 1.11. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $174.80. The firm has a 50-day moving average price of $141.38 and a 200 day moving average price of $145.48. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

Jabil (NYSE:JBL) last released its earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 41.87% and a net margin of 4.71%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.68 EPS. Equities research analysts expect that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.19%. The ex-dividend date is Thursday, May 15th. Jabil’s payout ratio is 7.66%.

Insiders Place Their Bets

In other news, Chairman Mark T. Mondello sold 20,000 shares of the company’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $131.56, for a total transaction of $2,631,200.00. Following the transaction, the chairman now directly owns 1,730,192 shares of the company’s stock, valued at $227,624,059.52. This represents a 1.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Dastoor sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $169.90, for a total transaction of $1,699,000.00. Following the completion of the sale, the chief executive officer now owns 221,693 shares of the company’s stock, valued at $37,665,640.70. This trade represents a 4.32% decrease in their position. The disclosure for this sale can be found here. 1.73% of the stock is currently owned by company insiders.

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).