William Blair Investment Management LLC Sells 576 Shares of Jabil Inc. (NYSE:JBL)

William Blair Investment Management LLC decreased its position in Jabil Inc. (NYSE:JBL) by 15.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,169 shares of the technology company’s stock after selling 576 shares during the period. William Blair Investment Management LLC’s holdings in Jabil were worth $456,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc grew its position in shares of Jabil by 2.8% during the 3rd quarter. CIBC Asset Management Inc now owns 16,689 shares of the technology company’s stock worth $2,000,000 after buying an additional 462 shares during the period. Meeder Asset Management Inc. boosted its stake in Jabil by 72.5% in the third quarter. Meeder Asset Management Inc. now owns 8,635 shares of the technology company’s stock valued at $1,035,000 after acquiring an additional 3,628 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Jabil during the 3rd quarter worth $365,000. PNC Financial Services Group Inc. raised its position in shares of Jabil by 2.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 35,734 shares of the technology company’s stock valued at $4,282,000 after acquiring an additional 1,013 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Jabil by 2,750.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 110,701 shares of the technology company’s stock valued at $13,265,000 after purchasing an additional 106,818 shares during the period. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Jabil

In other news, Director Christopher S. Holland sold 3,400 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $162.27, for a total value of $551,718.00. Following the completion of the sale, the director now directly owns 12,900 shares of the company’s stock, valued at $2,093,283. This trade represents a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John C. Plant sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $172.55, for a total value of $8,627,500.00. Following the transaction, the director now directly owns 5,900 shares in the company, valued at $1,018,045. The trade was a 89.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,400 shares of company stock valued at $12,804,458. 1.73% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on JBL. StockNews.com downgraded Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. The Goldman Sachs Group upped their price target on Jabil from $160.00 to $179.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Barclays lifted their price objective on shares of Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $160.00 target price (up previously from $150.00) on shares of Jabil in a research note on Thursday, December 19th. Finally, UBS Group boosted their price objective on shares of Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $158.83.

Jabil Stock Performance

Shares of JBL stock opened at $139.29 on Thursday. Jabil Inc. has a 12 month low of $95.85 and a 12 month high of $174.80. The company’s fifty day simple moving average is $156.35 and its 200-day simple moving average is $137.62. The firm has a market cap of $15.21 billion, a PE ratio of 13.35, a P/E/G ratio of 1.65 and a beta of 1.19. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

Jabil (NYSE:JBL) last issued 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. The firm had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.60 EPS. Equities research analysts expect that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil’s payout ratio is presently 3.07%.

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).