Bank of Montreal Can Lowers Position in Jabil Inc. (NYSE:JBL)

Bank of Montreal Can decreased its holdings in shares of Jabil Inc. (NYSE:JBL) by 19.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 130,896 shares of the technology company’s stock after selling 32,393 shares during the period. Bank of Montreal Can owned 0.12% of Jabil worth $16,014,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Primecap Management Co. CA increased its holdings in Jabil by 0.3% during the third quarter. Primecap Management Co. CA now owns 3,692,560 shares of the technology company’s stock valued at $442,479,000 after buying an additional 9,685 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Jabil by 12,251.7% in the 3rd quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock valued at $264,391,000 after acquiring an additional 2,188,521 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Jabil by 7.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,636,737 shares of the technology company’s stock worth $178,058,000 after acquiring an additional 106,808 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Jabil by 29.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock worth $150,463,000 after purchasing an additional 310,590 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Jabil by 195.8% during the second quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock valued at $115,404,000 after purchasing an additional 702,199 shares in the last quarter. Institutional investors own 93.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on JBL shares. JPMorgan Chase & Co. reduced 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. Bank of America raised their target price 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. Barclays upped their price target on Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Stifel Nicolaus raised their price objective on Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, StockNews.com raised Jabil from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Jabil has a consensus rating of “Moderate Buy” and an average target price of $143.50.

Insider Buying and Selling

In related news, EVP Frederic E. Mccoy sold 4,000 shares of Jabil stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $118.70, for a total transaction of $474,800.00. Following the completion of the transaction, the executive vice president now directly owns 108,753 shares in the company, valued at approximately $12,908,981.10. This trade represents a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Francis Mckay sold 11,755 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $121.71, for a total value of $1,430,701.05. Following the completion of the sale, the senior vice president now owns 41,507 shares in the company, valued at approximately $5,051,816.97. This represents a 22.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,689 shares of company stock valued at $5,377,431 over the last 90 days. Insiders own 2.62% of the company’s stock.

Jabil Stock Performance

Shares of JBL stock opened at $135.83 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72. The business has a fifty day moving average of $126.30 and a 200 day moving average of $116.39. The firm has a market capitalization of $15.33 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.57 and a beta of 1.24. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94.

Jabil (NYSE:JBL) last released its earnings results on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.08. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.59 billion. During the same quarter in the previous year, the company posted $2.34 earnings per share. The company’s revenue was down 17.7% compared to the same quarter last year. As a group, research analysts expect that Jabil Inc. will post 7.84 earnings per share for the current year.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. Jabil’s dividend payout ratio (DPR) is presently 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).