Pitcairn Co. Reduces Position in Jabil Inc. (NYSE:JBL)

Pitcairn Co. lessened its holdings in shares of Jabil Inc. (NYSE:JBL) by 40.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,344 shares of the technology company’s stock after selling 7,148 shares during the period. Pitcairn Co.’s holdings in Jabil were worth $1,240,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Cetera Investment Advisers grew its stake in Jabil by 141.7% during the 1st quarter. Cetera Investment Advisers now owns 17,350 shares of the technology company’s stock valued at $2,324,000 after acquiring an additional 10,173 shares in the last quarter. CCM Investment Advisers LLC grew its stake in shares of Jabil by 6.0% in the 2nd quarter. CCM Investment Advisers LLC now owns 149,208 shares of the technology company’s stock valued at $16,232,000 after buying an additional 8,405 shares during the period. Foster & Motley Inc. grew its stake in shares of Jabil by 8.7% in the 3rd quarter. Foster & Motley Inc. now owns 52,173 shares of the technology company’s stock valued at $6,252,000 after buying an additional 4,181 shares during the period. Comerica Bank grew its stake in shares of Jabil by 68.5% in the 1st quarter. Comerica Bank now owns 42,709 shares of the technology company’s stock valued at $5,721,000 after buying an additional 17,355 shares during the period. Finally, Nicola Wealth Management LTD. grew its stake in shares of Jabil by 54.9% in the 3rd quarter. Nicola Wealth Management LTD. now owns 39,500 shares of the technology company’s stock valued at $4,733,000 after buying an additional 14,000 shares during the period. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Insiders Place Their Bets

In other Jabil news, SVP Francis Mckay sold 11,755 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the sale, the senior vice president now directly owns 41,507 shares in the company, valued at $5,051,816.97. This represents a 22.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Frederic E. Mccoy sold 4,283 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $122.28, for a total transaction of $523,725.24. Following the completion of the sale, the executive vice president now owns 142,472 shares in the company, valued at $17,421,476.16. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,689 shares of company stock worth $5,377,431 in the last ninety days. 2.62% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on JBL. Bank of America increased their price target on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Stifel Nicolaus increased their price target on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. dropped their price target on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Finally, Barclays increased their price target on shares of Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.50.

Jabil Stock Performance

NYSE:JBL opened at $131.12 on Monday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.72 and a current ratio of 1.09. The stock has a market capitalization of $14.80 billion, a P/E ratio of 11.90, a PEG ratio of 1.54 and a beta of 1.24. The company has a 50 day moving average price of $123.82 and a 200 day moving average price of $115.81. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $156.94.

Jabil (NYSE:JBL) last posted its quarterly earnings data 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. The firm had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.59 billion. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The firm’s quarterly revenue was down 17.7% on a year-over-year basis. During the same quarter last year, the company posted $2.34 EPS. Equities research analysts forecast that Jabil Inc. will post 7.84 EPS for the current year.

Jabil Dividend Announcement

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

Jabil Company 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).