Paralel Advisors LLC Has $1.86 Million Holdings in Jabil Inc. (NYSE:JBL)

Paralel Advisors LLC cut its position in shares of Jabil Inc. (NYSE:JBL) by 21.3% during the 2nd quarter, Holdings Channel reports. The firm owned 17,078 shares of the technology company’s stock after selling 4,615 shares during the quarter. Paralel Advisors LLC’s holdings in Jabil were worth $1,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of JBL. Koss Olinger Consulting LLC acquired a new position in shares of Jabil during the 2nd quarter worth approximately $503,000. Caprock Group LLC raised its position in shares of Jabil by 488.0% in the second quarter. Caprock Group LLC now owns 13,307 shares of the technology company’s stock valued at $1,448,000 after purchasing an additional 11,044 shares during the period. Acadian Asset Management LLC bought a new position in shares of Jabil in the second quarter valued at about $382,000. Advisor OS LLC lifted its stake in shares of Jabil by 42.6% during the 2nd quarter. Advisor OS LLC now owns 21,255 shares of the technology company’s stock worth $2,312,000 after buying an additional 6,354 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Jabil by 72.0% during the 2nd quarter. Victory Capital Management Inc. now owns 490,499 shares of the technology company’s stock worth $53,361,000 after buying an additional 205,331 shares during the period. Institutional investors and hedge funds own 93.39% of the company’s stock.

Jabil Price Performance

JBL stock traded down $1.55 during mid-day trading on Friday, hitting $101.04. The stock had a trading volume of 1,278,375 shares, compared to its average volume of 1,443,134. The firm has a fifty day simple moving average of $108.00 and a 200 day simple moving average of $120.26. Jabil Inc. has a 52 week low of $95.85 and a 52 week high of $156.94. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $11.46 billion, a P/E ratio of 9.19, a P/E/G ratio of 1.95 and a beta of 1.25.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Thursday, June 20th. The technology company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.53 billion. Jabil had a net margin of 4.63% and a return on equity of 40.30%. The company’s revenue was down 20.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.85 earnings per share. As a group, research analysts forecast that Jabil Inc. will post 7.86 EPS for the current year.

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend was Thursday, August 15th. Jabil’s dividend payout ratio (DPR) is presently 2.91%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. UBS Group decreased their target price on Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, June 21st. JPMorgan Chase & Co. reduced their target price on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Barclays lowered their price target on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Finally, Bank of America cut their price objective on shares of Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a report on Friday, June 21st. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $141.13.

Insider Buying and Selling at Jabil

In other news, SVP May Yee Yap sold 4,274 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total value of $500,228.96. Following the completion of the transaction, the senior vice president now owns 24,829 shares of the company’s stock, valued at $2,905,986.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Jabil news, EVP Frederic E. Mccoy sold 1,250 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $116.42, for a total transaction of $145,525.00. Following the sale, the executive vice president now owns 112,753 shares of the company’s stock, valued at $13,126,704.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP May Yee Yap sold 4,274 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total value of $500,228.96. Following the completion of the transaction, the senior vice president now owns 24,829 shares of the company’s stock, valued at $2,905,986.16. The disclosure for this sale can be found here. Company insiders own 2.62% of the company’s stock.

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).