American Trust Lowers Stock Holdings in Jabil Inc. (NYSE:JBL)

American Trust lessened its stake in shares of Jabil Inc. (NYSE:JBL) by 9.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,301 shares of the technology company’s stock after selling 240 shares during the quarter. American Trust’s holdings in Jabil were worth $276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of JBL. Synovus Financial Corp increased its stake in Jabil by 92.8% in the 3rd quarter. Synovus Financial Corp now owns 18,056 shares of the technology company’s stock valued at $2,164,000 after buying an additional 8,693 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Jabil in the third quarter valued at about $347,000. Sanctuary Advisors LLC increased its stake in shares of Jabil by 1.3% during the third quarter. Sanctuary Advisors LLC now owns 46,101 shares of the technology company’s stock worth $6,045,000 after acquiring an additional 573 shares during the period. Te Ahumairangi Investment Management Ltd lifted its position in Jabil by 365.6% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 20,767 shares of the technology company’s stock valued at $2,474,000 after purchasing an additional 16,307 shares during the period. Finally, Virtu Financial LLC boosted its holdings in Jabil by 157.9% in the 3rd quarter. Virtu Financial LLC now owns 15,091 shares of the technology company’s stock valued at $1,808,000 after purchasing an additional 9,239 shares in the last quarter. 93.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

JBL has been the subject of several recent analyst reports. StockNews.com raised Jabil from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 27th. Stifel Nicolaus boosted their target price on shares of Jabil from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Barclays increased their price target on shares of Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Bank of America boosted their price objective on shares of Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.17.

Insider Activity at Jabil

In other Jabil news, EVP Frederic E. Mccoy sold 4,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $118.70, for a total value of $474,800.00. Following the completion of the transaction, the executive vice president now directly owns 108,753 shares in the company, valued at approximately $12,908,981.10. The trade was a 3.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $124.70, for a total value of $2,494,000.00. Following the sale, the director now owns 139,108 shares in the company, valued at $17,346,767.60. This trade represents a 12.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,689 shares of company stock valued at $5,377,431. 2.62% of the stock is owned by insiders.

Jabil Stock Performance

NYSE:JBL opened at $135.13 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $15.25 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 1.57 and a beta of 1.25. The firm has a 50-day moving average price of $129.51 and a two-hundred day moving average price of $117.57. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $156.94.

Jabil (NYSE:JBL) last issued its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.08. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.59 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The company’s quarterly revenue was down 17.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.34 EPS. As a group, research analysts expect that Jabil Inc. will post 7.89 earnings per share for the current fiscal year.

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend was Friday, November 15th. Jabil’s dividend payout ratio is presently 2.90%.

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).