Leuthold Group LLC Lowers Stock Holdings in Jabil Inc. (NYSE:JBL)

Leuthold Group LLC lessened its stake in shares of Jabil Inc. (NYSE:JBL) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,249 shares of the technology company’s stock after selling 626 shares during the quarter. Leuthold Group LLC owned about 0.06% of Jabil worth $7,642,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Benjamin Edwards Inc. purchased a new position in Jabil during the 1st quarter worth $25,000. HHM Wealth Advisors LLC purchased a new position in Jabil during the second quarter worth about $28,000. ORG Partners LLC purchased a new position in Jabil during the first quarter worth about $29,000. Innealta Capital LLC acquired a new stake in Jabil in the second quarter valued at about $31,000. Finally, Riverview Trust Co purchased a new stake in Jabil in the 1st quarter valued at approximately $33,000. 93.39% of the stock is owned by institutional investors and hedge funds.

Jabil Stock Performance

NYSE JBL opened at $107.85 on Thursday. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 1.26. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $156.94. The business has a fifty day moving average of $107.29 and a 200-day moving average of $118.27. The stock has a market cap of $12.24 billion, a price-to-earnings ratio of 9.81, a price-to-earnings-growth ratio of 1.75 and a beta of 1.25.

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

Jabil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend was Thursday, August 15th. Jabil’s payout ratio is currently 2.91%.

Insiders Place Their Bets

In other news, EVP Frederic E. Mccoy sold 1,250 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $116.42, for a total value of $145,525.00. Following the transaction, the executive vice president now directly owns 112,753 shares in the company, valued at approximately $13,126,704.26. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Jabil news, SVP May Yee Yap sold 4,274 shares of Jabil stock in a transaction that occurred 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 transaction, the senior vice president now owns 24,829 shares in the company, valued at $2,905,986.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Frederic E. Mccoy sold 1,250 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $116.42, for a total transaction of $145,525.00. Following the sale, the executive vice president now directly owns 112,753 shares of the company’s stock, valued at $13,126,704.26. The disclosure for this sale can be found here. 2.62% of the stock is owned by company insiders.

Analysts Set New Price Targets

JBL has been the subject of several recent analyst reports. Bank of America reduced their price target on Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a report on Friday, June 21st. Barclays cut their price target on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, June 21st. UBS Group decreased their price objective on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, June 21st. Stifel Nicolaus dropped their target price on shares of Jabil from $135.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday. Finally, JPMorgan Chase & Co. dropped their price objective 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 research 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $139.88.

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).