Principal Financial Group Inc. Has $16.45 Million Holdings in Jabil Inc. (NYSE:JBL)

Principal Financial Group Inc. lessened its holdings in shares of Jabil Inc. (NYSE:JBL) by 1.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 137,273 shares of the technology company’s stock after selling 1,558 shares during the period. Principal Financial Group Inc.’s holdings in Jabil were worth $16,449,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in JBL. Foster & Motley Inc. lifted its stake in Jabil by 8.7% in the 3rd quarter. Foster & Motley Inc. now owns 52,173 shares of the technology company’s stock valued at $6,252,000 after purchasing an additional 4,181 shares during the last quarter. Radnor Capital Management LLC bought a new position in Jabil in the 3rd quarter valued at approximately $336,000. QRG Capital Management Inc. lifted its stake in Jabil by 12.8% in the 3rd quarter. QRG Capital Management Inc. now owns 5,978 shares of the technology company’s stock valued at $716,000 after purchasing an additional 680 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in Jabil by 21.8% in the 3rd quarter. Asset Management One Co. Ltd. now owns 56,008 shares of the technology company’s stock valued at $6,711,000 after purchasing an additional 10,026 shares during the last quarter. Finally, National Pension Service bought a new position in Jabil in the 3rd quarter valued at approximately $2,794,000. Institutional investors and hedge funds own 93.39% of the company’s stock.

Analyst Upgrades and Downgrades

JBL has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Stifel Nicolaus raised their price target on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Bank of America raised their price target on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, Barclays raised their price target on shares of Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $143.50.

Insider Buying and Selling at Jabil

In other news, EVP Matthew Crowley sold 1,380 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was 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 represents a 6.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven A. Raymund sold 20,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $124.70, for a total value of $2,494,000.00. Following the completion of the sale, the director now directly owns 139,108 shares of the company’s stock, valued at approximately $17,346,767.60. This trade represents a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,689 shares of company stock valued at $5,377,431. Corporate insiders own 2.62% of the company’s stock.

Jabil Trading Down 0.5 %

JBL opened at $128.26 on Friday. 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 company has a market cap of $14.47 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24. The company has a fifty day moving average price of $121.26 and a two-hundred day moving average price of $115.40.

Jabil (NYSE:JBL) last posted its quarterly earnings results 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. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.59 billion. During the same period in the previous year, the firm posted $2.34 earnings per share. The business’s revenue was down 17.7% compared to the same quarter last year. Analysts predict that Jabil Inc. will post 7.84 EPS for the current fiscal year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.25%. The ex-dividend date is Friday, November 15th. Jabil’s dividend payout ratio (DPR) is currently 2.90%.

Jabil 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).