Cerity Partners LLC Sells 4,808 Shares of Jabil Inc. (NYSE:JBL)

Cerity Partners LLC decreased its holdings in Jabil Inc. (NYSE:JBL) by 6.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 71,239 shares of the technology company’s stock after selling 4,808 shares during the quarter. Cerity Partners LLC’s holdings in Jabil were worth $8,537,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of JBL. Pacer Advisors Inc. grew its position in Jabil by 12,251.7% in the third quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock valued at $264,391,000 after acquiring an additional 2,188,521 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Jabil during the 2nd quarter worth approximately $78,660,000. AQR Capital Management LLC increased its position in Jabil by 195.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock worth $115,404,000 after purchasing an additional 702,199 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Jabil by 29.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock valued at $150,463,000 after purchasing an additional 310,590 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Jabil by 72.0% in the second quarter. Victory Capital Management Inc. now owns 490,499 shares of the technology company’s stock valued at $53,361,000 after buying an additional 205,331 shares in the last quarter. Institutional investors and hedge funds own 93.39% of the company’s stock.

Insider Transactions at Jabil

In other Jabil news, EVP Frederic E. Mccoy sold 4,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 108,753 shares in the company, valued at approximately $12,908,981.10. This represents a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Matthew Crowley sold 1,380 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $125.83, for a total value of $173,645.40. Following the completion of the sale, the executive vice president now directly owns 18,568 shares of the company’s stock, valued at $2,336,411.44. This trade represents a 6.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,689 shares of company stock valued at $5,377,431 in the last quarter. 2.62% of the stock is currently owned by company insiders.

Jabil Trading Down 1.0 %

Shares of JBL stock opened at $132.70 on Wednesday. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $156.94. 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 stock has a market cap of $14.97 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 1.55 and a beta of 1.24. The stock has a 50-day moving average of $124.39 and a 200-day moving average of $115.92.

Jabil (NYSE:JBL) last released its earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.08. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.59 billion. Jabil had a net margin of 4.81% and a return on equity of 42.64%. Jabil’s revenue for the quarter was down 17.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.34 earnings per share. On average, equities research analysts forecast that Jabil Inc. will post 7.84 earnings per share for the current year.

Jabil Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on JBL. Barclays increased their price target on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. dropped their target price on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Bank of America boosted their price target on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, Stifel Nicolaus raised their price objective on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, September 27th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus 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).