LSV Asset Management Sells 89,520 Shares of Jabil Inc. (NYSE:JBL)

LSV Asset Management trimmed its holdings in Jabil Inc. (NYSE:JBL) by 3.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,436,846 shares of the technology company’s stock after selling 89,520 shares during the quarter. LSV Asset Management owned about 2.15% of Jabil worth $265,104,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Jabil by 10.5% in the fourth quarter. Vanguard Group Inc. now owns 15,070,238 shares of the technology company’s stock valued at $1,919,948,000 after buying an additional 1,427,429 shares during the last quarter. Norges Bank bought a new stake in Jabil during the 4th quarter worth about $192,964,000. Bank of New York Mellon Corp raised its holdings in Jabil by 29.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock worth $150,463,000 after purchasing an additional 310,590 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in Jabil by 36.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,339,559 shares of the technology company’s stock worth $170,660,000 after purchasing an additional 359,818 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Jabil by 29.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,111,281 shares of the technology company’s stock worth $141,577,000 after purchasing an additional 249,889 shares during the last quarter. 93.39% of the stock is owned by institutional investors.

Jabil Stock Down 1.5 %

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

Jabil (NYSE:JBL) last released its quarterly earnings results on Thursday, June 20th. The technology company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.53 billion. During the same quarter in the prior year, the firm posted $1.85 EPS. The business’s revenue was down 20.2% on a year-over-year basis. On average, equities research analysts expect that Jabil Inc. will post 7.86 EPS for the current year.

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend was Thursday, August 15th. Jabil’s dividend payout ratio is currently 2.91%.

Analysts Set New Price Targets

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

Insider Transactions at Jabil

In other news, EVP Frederic E. Mccoy sold 1,250 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was 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 in the company, valued at approximately $13,126,704.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Frederic E. Mccoy sold 1,250 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $116.42, for a total value of $145,525.00. Following the sale, the executive vice president now owns 112,753 shares in the company, valued at approximately $13,126,704.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 sale, the senior vice president now owns 24,829 shares in the company, valued at approximately $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).