Trail Ridge Investment Advisors LLC Trims Stock Holdings in Jabil Inc. (NYSE:JBL)

Trail Ridge Investment Advisors LLC lowered its position in shares of Jabil Inc. (NYSE:JBL) by 2.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 7,696 shares of the technology company’s stock after selling 204 shares during the quarter. Trail Ridge Investment Advisors LLC’s holdings in Jabil were worth $946,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Primecap Management Co. CA increased its stake in shares of Jabil by 3.0% in the second quarter. Primecap Management Co. CA now owns 3,682,875 shares of the technology company’s stock worth $400,660,000 after acquiring an additional 107,800 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Jabil by 7.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,636,737 shares of the technology company’s stock valued at $178,058,000 after buying an additional 106,808 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Jabil by 29.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock valued at $150,463,000 after buying an additional 310,590 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Jabil by 195.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock valued at $115,404,000 after buying an additional 702,199 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Jabil in the second quarter worth about $78,660,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Analyst Ratings Changes

JBL has been the subject of several recent research reports. Barclays lifted their price target on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. lowered their price target 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. Stifel Nicolaus lifted their price objective on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Bank of America increased their target price on shares of Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $143.50.

Insider Buying and Selling at Jabil

In other news, 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 directly owns 139,108 shares in the company, valued at $17,346,767.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Jabil news, EVP Matthew Crowley sold 1,380 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $125.83, for a total value of $173,645.40. Following the transaction, the executive vice president now directly owns 18,568 shares in the company, valued at $2,336,411.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $124.70, for a total transaction of $2,494,000.00. Following the completion of the sale, the director now directly owns 139,108 shares of the company’s stock, valued at approximately $17,346,767.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,651 shares of company stock worth $3,423,005. Insiders own 2.62% of the company’s stock.

Jabil Stock Up 0.1 %

Shares of NYSE JBL opened at $124.81 on Tuesday. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $156.94. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. The company’s 50-day simple moving average is $114.62 and its 200-day simple moving average is $114.70. The firm has a market cap of $14.16 billion, a price-to-earnings ratio of 11.33, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.22 by $0.08. The company had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.59 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. Jabil’s quarterly revenue was down 17.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.34 EPS. Equities analysts predict that Jabil Inc. will post 7.84 EPS for the current fiscal year.

Jabil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be given 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 yield of 0.26%. Jabil’s payout ratio 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).