Great Lakes Advisors LLC Decreases Stake in Jabil Inc. (NYSE:JBL)

Great Lakes Advisors LLC cut its holdings in Jabil Inc. (NYSE:JBL) by 61.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 68,804 shares of the technology company’s stock after selling 107,773 shares during the quarter. Great Lakes Advisors LLC’s holdings in Jabil were worth $9,901,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. FMR LLC boosted its position in Jabil by 11.3% during the third quarter. FMR LLC now owns 5,116,308 shares of the technology company’s stock worth $613,087,000 after purchasing an additional 520,672 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of Jabil by 0.3% in the third quarter. Primecap Management Co. CA now owns 3,692,560 shares of the technology company’s stock worth $442,479,000 after acquiring an additional 9,685 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Jabil by 12,251.7% in the third quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock worth $264,391,000 after acquiring an additional 2,188,521 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Jabil by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,045,213 shares of the technology company’s stock worth $150,406,000 after acquiring an additional 10,541 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Jabil by 15.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 903,526 shares of the technology company’s stock worth $108,270,000 after acquiring an additional 118,376 shares during the last quarter. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Frederic E. Mccoy sold 4,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was 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 owns 138,472 shares of the company’s stock, valued at $20,744,490.32. This represents a 2.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher S. Holland sold 3,400 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $162.27, for a total value of $551,718.00. Following the completion of the sale, the director now directly owns 12,900 shares of the company’s stock, valued at $2,093,283. The trade was a 20.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,400 shares of company stock worth $12,804,458 over the last three months. 1.73% of the stock is owned by insiders.

Jabil Stock Performance

Jabil stock opened at $133.98 on Thursday. The firm has a market capitalization of $14.63 billion, a P/E ratio of 12.85, a PEG ratio of 1.65 and a beta of 1.19. The stock has a fifty day moving average price of $157.79 and a 200 day moving average price of $136.65. Jabil Inc. has a 52 week low of $95.85 and a 52 week high of $174.80. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Wednesday, December 18th. The technology company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.88 by $0.12. The company had revenue of $6.99 billion during the quarter, compared to analyst estimates of $6.61 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The firm’s revenue was down 16.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.60 earnings per share. Equities research analysts anticipate that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.08 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.32 annualized dividend and a yield of 0.24%. Jabil’s dividend payout ratio is presently 3.07%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on JBL shares. The Goldman Sachs Group boosted their price target on Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a report on Monday, February 24th. StockNews.com cut Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. UBS Group boosted their price target on Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Barclays upped their target price on Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $160.00 target price (up from $150.00) on shares of Jabil in a research note on Thursday, December 19th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Jabil has an average rating of “Moderate Buy” and a consensus price target of $158.83.

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).