Dynamic Technology Lab Private Ltd Sells 706 Shares of Jabil Inc. (NYSE:JBL)

Dynamic Technology Lab Private Ltd cut its stake in shares of Jabil Inc. (NYSE:JBL) by 1.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 47,667 shares of the technology company’s stock after selling 706 shares during the period. Jabil comprises about 0.6% of Dynamic Technology Lab Private Ltd’s holdings, making the stock its 3rd biggest holding. Dynamic Technology Lab Private Ltd’s holdings in Jabil were worth $5,712,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. HHM Wealth Advisors LLC acquired a new position in shares of Jabil during the 2nd quarter worth about $28,000. Innealta Capital LLC acquired a new position in shares of Jabil during the second quarter valued at approximately $31,000. Capital Performance Advisors LLP purchased a new position in shares of Jabil in the third quarter valued at approximately $32,000. Family Firm Inc. acquired a new stake in shares of Jabil in the second quarter worth approximately $37,000. Finally, Matrix Trust Co increased its position in shares of Jabil by 135.4% during the third quarter. Matrix Trust Co now owns 372 shares of the technology company’s stock worth $45,000 after purchasing an additional 214 shares in the last quarter. 93.39% of the stock is owned by hedge funds and other institutional investors.

Jabil Stock Up 0.4 %

JBL stock opened at $131.12 on Monday. The firm has a market cap of $14.80 billion, a PE ratio of 11.90, a PEG ratio of 1.55 and a beta of 1.24. Jabil Inc. has a one year low of $95.85 and a one year high of $156.94. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.72 and a current ratio of 1.09. The firm’s 50 day moving average price is $123.82 and its 200-day moving average price is $115.81.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.22 by $0.08. The business had revenue of $6.96 billion for 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%. The company’s quarterly revenue was down 17.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.34 EPS. On average, equities research analysts anticipate that Jabil Inc. will post 7.84 EPS for the current year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend is Friday, November 15th. Jabil’s dividend payout ratio (DPR) is 2.90%.

Insider Transactions at Jabil

In other news, EVP Frederic E. Mccoy sold 4,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total transaction of $474,800.00. Following the sale, the executive vice president now owns 108,753 shares of the company’s stock, valued at approximately $12,908,981.10. This represents a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of the firm’s 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 transaction, the director now directly owns 139,108 shares of the company’s stock, valued at approximately $17,346,767.60. The trade was a 12.57 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,689 shares of company stock worth $5,377,431. 2.62% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on JBL shares. Stifel Nicolaus lifted their target price on shares of Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Barclays increased their price objective on shares of Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a report on Friday, September 27th. JPMorgan Chase & Co. lowered their target price on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Finally, Bank of America increased their price target on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 27th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $143.50.

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).