Amalgamated Bank Cuts Stock Position in Jabil Inc. (NYSE:JBL)

Amalgamated Bank lessened its holdings in shares of Jabil Inc. (NYSE:JBL) by 41.3% during the 3rd quarter, Holdings Channel reports. The firm owned 22,539 shares of the technology company’s stock after selling 15,868 shares during the period. Amalgamated Bank’s holdings in Jabil were worth $2,701,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. QRG Capital Management Inc. lifted its holdings in Jabil by 12.8% during the 3rd quarter. QRG Capital Management Inc. now owns 5,978 shares of the technology company’s stock worth $716,000 after buying an additional 680 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Jabil by 21.8% in the third quarter. Asset Management One Co. Ltd. now owns 56,008 shares of the technology company’s stock valued at $6,711,000 after acquiring an additional 10,026 shares in the last quarter. National Pension Service purchased a new position in Jabil in the third quarter valued at $2,794,000. Intact Investment Management Inc. acquired a new position in Jabil during the 3rd quarter worth $70,000. Finally, Van ECK Associates Corp increased its holdings in Jabil by 6.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,589 shares of the technology company’s stock worth $195,000 after purchasing an additional 90 shares during the period. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Jabil Trading Down 1.1 %

NYSE JBL opened at $135.75 on Monday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72. Jabil Inc. has a 12 month low of $95.85 and a 12 month high of $156.94. The company has a market capitalization of $15.32 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 1.60 and a beta of 1.24. The firm’s fifty day moving average price is $118.51 and its 200 day moving average price is $114.91.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.08. The business 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 revenue was down 17.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.34 earnings per share. On average, sell-side analysts expect that Jabil Inc. will post 7.84 earnings per share for the current fiscal year.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. Jabil’s dividend payout ratio (DPR) is 2.90%.

Insider Buying and Selling

In other Jabil news, EVP Frederic E. Mccoy sold 4,283 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $122.28, for a total transaction of $523,725.24. Following the completion of the sale, the executive vice president now directly owns 142,472 shares of the company’s stock, valued at $17,421,476.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Jabil news, Director Steven A. Raymund sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $124.70, for a total transaction of $2,494,000.00. Following the transaction, the director now owns 139,108 shares in the company, valued at approximately $17,346,767.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Frederic E. Mccoy sold 4,283 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $122.28, for a total value of $523,725.24. Following the transaction, the executive vice president now directly owns 142,472 shares in the company, valued at $17,421,476.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,689 shares of company stock valued at $5,377,431 over the last quarter. 2.62% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on JBL shares. Bank of America boosted their price objective on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Barclays increased their price objective on shares of Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. decreased their price objective 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. Finally, Stifel Nicolaus increased their target price on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.50.

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).