Te Ahumairangi Investment Management Ltd Sells 4,500 Shares of Jabil Inc. (NYSE:JBL)

Te Ahumairangi Investment Management Ltd lessened its holdings in shares of Jabil Inc. (NYSE:JBL) by 21.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 16,267 shares of the technology company’s stock after selling 4,500 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in Jabil were worth $2,341,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in JBL. The Manufacturers Life Insurance Company lifted its holdings in shares of Jabil by 23.4% during the third quarter. The Manufacturers Life Insurance Company now owns 91,895 shares of the technology company’s stock worth $11,012,000 after buying an additional 17,411 shares during the last quarter. Public Sector Pension Investment Board increased its position in Jabil by 6.5% during the third quarter. Public Sector Pension Investment Board now owns 4,926 shares of the technology company’s stock worth $590,000 after acquiring an additional 300 shares during the period. Verition Fund Management LLC raised its stake in Jabil by 102.6% during the 3rd quarter. Verition Fund Management LLC now owns 43,633 shares of the technology company’s stock valued at $5,229,000 after purchasing an additional 22,092 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Jabil in the 3rd quarter valued at $407,000. Finally, Investment Management Corp of Ontario grew its position in Jabil by 40.2% in the 3rd quarter. Investment Management Corp of Ontario now owns 3,837 shares of the technology company’s stock worth $460,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors own 93.39% of the company’s stock.

Jabil Stock Up 0.1 %

Shares of NYSE:JBL opened at $136.20 on Wednesday. The company’s fifty day moving average is $153.29 and its 200-day moving average is $140.29. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. Jabil Inc. has a 52 week low of $95.85 and a 52 week high of $174.80. The company has a market capitalization of $14.87 billion, a PE ratio of 13.06, a P/E/G ratio of 1.65 and a beta of 1.19.

Jabil (NYSE:JBL) last issued its quarterly earnings data on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The firm had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.40 billion. During the same period in the prior year, the firm earned $1.68 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. Equities research analysts predict that Jabil Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a $0.08 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.32 annualized dividend and a yield of 0.23%. Jabil’s payout ratio is 7.66%.

Analysts Set New Price Targets

A number of research analysts have recently commented on JBL shares. Barclays upped their price objective on shares of Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. UBS Group raised their price objective on Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. JPMorgan Chase & Co. boosted their price objective on Jabil from $172.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. StockNews.com upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research note on Friday, March 21st. Finally, Stifel Nicolaus restated a “buy” rating and issued a $160.00 price objective (up previously from $150.00) on shares of Jabil in a research note on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Jabil currently has an average rating of “Moderate Buy” and an average price target of $167.50.

Insiders Place Their Bets

In other Jabil news, Director John C. Plant sold 50,000 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $172.55, for a total transaction of $8,627,500.00. Following the transaction, the director now owns 5,900 shares of the company’s stock, valued at approximately $1,018,045. This represents a 89.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Frederic E. Mccoy sold 4,000 shares of Jabil stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $149.81, for a total value of $599,240.00. Following the completion of the sale, the executive vice president now directly owns 138,472 shares of the company’s stock, valued at $20,744,490.32. This trade represents a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,400 shares of company stock valued at $12,804,458. 1.73% of the stock is currently owned by corporate insiders.

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).