Jabil Inc. (NYSE:JBL) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in Jabil Inc. (NYSE:JBL) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 137,273 shares of the technology company’s stock after selling 1,558 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Jabil worth $16,449,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Synovus Financial Corp lifted its stake in shares of Jabil by 92.8% in the third quarter. Synovus Financial Corp now owns 18,056 shares of the technology company’s stock worth $2,164,000 after acquiring an additional 8,693 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Jabil during the third quarter valued at approximately $347,000. Sanctuary Advisors LLC raised its stake in Jabil by 1.3% during the third quarter. Sanctuary Advisors LLC now owns 46,101 shares of the technology company’s stock valued at $6,045,000 after buying an additional 573 shares in the last quarter. Te Ahumairangi Investment Management Ltd raised its stake in Jabil by 365.6% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 20,767 shares of the technology company’s stock valued at $2,474,000 after buying an additional 16,307 shares in the last quarter. Finally, Virtu Financial LLC raised its stake in Jabil by 157.9% during the third quarter. Virtu Financial LLC now owns 15,091 shares of the technology company’s stock valued at $1,808,000 after buying an additional 9,239 shares in the last quarter. Institutional investors and hedge funds own 93.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Bank of America upped their price objective on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. cut their price objective on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. StockNews.com cut Jabil from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th. Barclays upped their price objective on Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Finally, The Goldman Sachs Group upped their target price on Jabil from $136.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $153.17.

Jabil Stock Down 1.2 %

NYSE:JBL opened at $145.92 on Friday. The firm has a market capitalization of $16.47 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 1.58 and a beta of 1.25. The stock has a 50 day moving average of $133.31 and a 200-day moving average of $119.42. Jabil Inc. has a 52 week low of $95.85 and a 52 week 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.

Jabil (NYSE:JBL) last issued its quarterly earnings data on Wednesday, December 18th. The technology company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.61 billion. During the same period in the prior year, the company posted $2.60 EPS. The business’s revenue for the quarter was down 16.6% compared to the same quarter last year. Analysts predict that Jabil Inc. will post 7.89 EPS for the current year.

Jabil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date was Friday, November 15th. Jabil’s dividend payout ratio (DPR) is 2.90%.

Insider Buying and Selling

In other Jabil news, EVP Frederic E. Mccoy sold 4,283 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $122.28, for a total value of $523,725.24. Following the completion of the sale, the executive vice president now directly owns 142,472 shares in the company, valued at $17,421,476.16. This represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven A. Raymund sold 20,000 shares of the company’s 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 owns 139,108 shares of the company’s stock, valued at $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. Insiders sold 43,689 shares of company stock valued at $5,377,431 in the last three months. 2.62% of the stock is currently owned by corporate insiders.

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).