Wellington Management Group LLP Lowers Stock Position in Jabil Inc. (NYSE:JBL)

Wellington Management Group LLP decreased its position in Jabil Inc. (NYSE:JBL) by 99.0% in the third quarter, Holdings Channel reports. The institutional investor owned 8,195 shares of the technology company’s stock after selling 838,048 shares during the period. Wellington Management Group LLP’s holdings in Jabil were worth $982,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of JBL. Foster & Motley Inc. increased its stake in shares of 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 in the last quarter. Nicola Wealth Management LTD. increased its position in shares of Jabil by 54.9% in the third quarter. Nicola Wealth Management LTD. now owns 39,500 shares of the technology company’s stock valued at $4,733,000 after buying an additional 14,000 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Jabil by 11.8% during the 3rd quarter. Empowered Funds LLC now owns 145,682 shares of the technology company’s stock worth $17,457,000 after buying an additional 15,413 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Jabil by 58.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 192,815 shares of the technology company’s stock valued at $23,105,000 after buying an additional 71,292 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Jabil by 51.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,107 shares of the technology company’s stock valued at $2,514,000 after acquiring an additional 7,878 shares during the period. Institutional investors and hedge funds own 93.39% of the company’s stock.

Jabil Stock Performance

Shares of Jabil stock opened at $140.44 on Friday. The business’s 50 day moving average price is $130.72 and its 200 day moving average price is $118.12. The company has a market cap of $15.69 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 1.57 and a beta of 1.25. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.72 and a current ratio of 1.09. Jabil Inc. has a one year low of $95.85 and a one year high of $156.94.

Jabil (NYSE:JBL) last posted its quarterly earnings results on Wednesday, December 18th. The technology company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.88 by $0.12. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The business had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.61 billion. During the same quarter in the previous year, the firm earned $2.60 EPS. The company’s quarterly revenue was down 16.6% compared to the same quarter last year. On average, research analysts predict that Jabil Inc. will post 7.89 EPS for the current year.

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.23%. Jabil’s dividend payout ratio (DPR) is 2.90%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. StockNews.com cut Jabil from a “strong-buy” rating to a “buy” rating in a report on Thursday. Barclays increased their target price 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 lifted their price target on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, The Goldman Sachs Group increased their price objective on Jabil from $136.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Jabil has an average rating of “Moderate Buy” and a consensus price target of $149.50.

Insider Activity

In other news, Director Steven A. Raymund sold 20,000 shares of the company’s stock in a transaction 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 transaction, the director now owns 139,108 shares of the company’s stock, valued at $17,346,767.60. This represents a 12.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Matthew Crowley sold 1,380 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $125.83, for a total value of $173,645.40. Following the sale, the executive vice president now directly owns 18,568 shares of the company’s stock, valued at $2,336,411.44. The trade was a 6.92 % decrease in their ownership of the stock. 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 in the last 90 days. Company insiders own 1.73% of the company’s stock.

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).