Inspire Investing LLC Sells 4,105 Shares of Jabil Inc. (NYSE:JBL)

Inspire Investing LLC lessened its position in Jabil Inc. (NYSE:JBL) by 21.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,628 shares of the technology company’s stock after selling 4,105 shares during the quarter. Inspire Investing LLC’s holdings in Jabil were worth $1,591,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in JBL. Wells Fargo & Company MN increased its position in shares of Jabil by 13.0% during the 4th quarter. Wells Fargo & Company MN now owns 154,314 shares of the technology company’s stock valued at $19,660,000 after purchasing an additional 17,766 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in Jabil by 36.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,339,559 shares of the technology company’s stock worth $170,660,000 after buying an additional 359,818 shares during the last quarter. Cetera Investment Advisers boosted its stake in Jabil by 141.7% in the first quarter. Cetera Investment Advisers now owns 17,350 shares of the technology company’s stock worth $2,324,000 after buying an additional 10,173 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Jabil by 30.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 331,373 shares of the technology company’s stock valued at $44,387,000 after acquiring an additional 76,573 shares during the last quarter. Finally, Tobam purchased a new position in shares of Jabil during the first quarter worth approximately $1,692,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Insider Activity

In other Jabil 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 completion of the sale, the executive vice president now directly owns 112,753 shares in the company, valued at $13,126,704.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP May Yee Yap sold 4,274 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total value of $500,228.96. Following the sale, the senior vice president now directly owns 24,829 shares of the company’s stock, valued at $2,905,986.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Frederic E. Mccoy sold 1,250 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $13,126,704.26. The disclosure for this sale can be found here. Insiders own 2.62% of the company’s stock.

Wall Street Analysts Forecast Growth

JBL has been the subject of a number of research reports. Stifel Nicolaus cut their price objective on shares of Jabil from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday. UBS Group cut their price target on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, June 21st. Bank of America decreased 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. JPMorgan Chase & Co. reduced their price target on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Finally, Barclays decreased their price target on Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $139.88.

Jabil Trading Up 2.8 %

NYSE JBL opened at $110.86 on Friday. The stock has a market cap of $12.58 billion, a P/E ratio of 10.09, a price-to-earnings-growth ratio of 1.75 and a beta of 1.25. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $156.94. The stock has a 50 day simple moving average of $107.17 and a two-hundred day simple moving average of $118.19. 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 announced 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. The company had revenue of $6.77 billion during 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 firm’s revenue was down 20.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.85 earnings per share. On average, analysts forecast that Jabil Inc. will post 7.86 earnings per share for the current year.

Jabil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were given a $0.08 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.29%. Jabil’s dividend payout ratio 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).