Janney Montgomery Scott LLC Sells 3,876 Shares of Jabil Inc. (NYSE:JBL)

Janney Montgomery Scott LLC lowered its stake in shares of Jabil Inc. (NYSE:JBL) by 24.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 12,252 shares of the technology company’s stock after selling 3,876 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Jabil were worth $1,641,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. bought a new position in Jabil during the first quarter worth about $25,000. Activest Wealth Management bought a new position in shares of Jabil during the 1st quarter valued at about $28,000. Alaska Permanent Fund Corp bought a new position in shares of Jabil during the 4th quarter valued at about $29,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of Jabil during the 4th quarter valued at about $32,000. Finally, Riverview Trust Co bought a new position in shares of Jabil during the 1st quarter valued at about $33,000. Institutional investors own 93.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on JBL shares. Bank of America cut their price objective on Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Friday, June 21st. Barclays cut their price objective on Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. JPMorgan Chase & Co. cut their price objective on Jabil from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, June 17th. Argus lowered Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, UBS Group dropped their target price on Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, June 21st. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.63.

Jabil Stock Up 0.4 %

Shares of Jabil stock opened at $114.93 on Monday. The firm has a market cap of $13.04 billion, a PE ratio of 10.46, a P/E/G ratio of 2.05 and a beta of 1.27. Jabil Inc. has a 52-week low of $100.18 and a 52-week high of $156.94. The business’s 50 day simple moving average is $115.98 and its 200 day simple moving average is $126.52. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 1.13.

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

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 15th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.28%. The ex-dividend date was Tuesday, May 14th. Jabil’s dividend payout ratio (DPR) is 2.91%.

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).