Jabil Inc. (NYSE:JBL) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Jabil Inc. (NYSE:JBL) by 2.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 264,134 shares of the technology company’s stock after selling 5,931 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Jabil worth $31,651,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. North Growth Management Ltd. lifted its stake in Jabil by 0.3% during the 3rd quarter. North Growth Management Ltd. now owns 289,000 shares of the technology company’s stock valued at $34,625,000 after acquiring an additional 1,000 shares during the period. Entropy Technologies LP purchased a new position in shares of Jabil during the third quarter worth $1,494,000. Venturi Wealth Management LLC lifted its position in Jabil by 260.8% during the third quarter. Venturi Wealth Management LLC now owns 902 shares of the technology company’s stock valued at $108,000 after purchasing an additional 652 shares during the period. Jaffetilchin Investment Partners LLC purchased a new stake in Jabil in the third quarter valued at $410,000. Finally, Sigma Planning Corp grew its position in Jabil by 16.7% during the 3rd quarter. Sigma Planning Corp now owns 2,698 shares of the technology company’s stock worth $323,000 after purchasing an additional 387 shares during the period. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on JBL shares. Barclays boosted their price objective on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Bank of America upped their price objective on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. cut their target price on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Finally, Stifel Nicolaus increased their price target on shares of Jabil from $130.00 to $140.00 and gave the stock 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 stock. According to data from MarketBeat.com, Jabil presently has a consensus rating of “Moderate Buy” and an average price target of $143.50.

Insider Buying and Selling at Jabil

In other news, Director Steven A. Raymund sold 20,000 shares of Jabil stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $124.70, for a total transaction of $2,494,000.00. Following the transaction, the director now owns 139,108 shares in the company, valued at $17,346,767.60. The trade was a 12.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Francis Mckay sold 11,755 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the completion of the transaction, the senior vice president now owns 41,507 shares in the company, valued at $5,051,816.97. The trade was a 22.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,689 shares of company stock worth $5,377,431. Corporate insiders own 2.62% of the company’s stock.

Jabil Trading Down 0.5 %

Shares of NYSE:JBL opened at $128.26 on Friday. The business’s 50 day moving average price is $121.26 and its 200-day moving average price is $115.39. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94. The firm has a market capitalization of $14.47 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72.

Jabil (NYSE:JBL) last posted its quarterly earnings data 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 the consensus estimate of $6.59 billion. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The company’s revenue was down 17.7% compared to the same quarter last year. During the same period last year, the firm posted $2.34 earnings per share. On average, equities research analysts forecast that Jabil Inc. will post 7.84 earnings per share for the current fiscal year.

Jabil Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. Jabil’s payout ratio 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).