Weiss Asset Management LP Has $2.50 Million Position in Jabil Inc. (NYSE:JBL)

Weiss Asset Management LP trimmed its position in Jabil Inc. (NYSE:JBL) by 81.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 20,835 shares of the technology company’s stock after selling 92,191 shares during the quarter. Weiss Asset Management LP’s holdings in Jabil were worth $2,497,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its stake in Jabil by 12,251.7% during the 3rd quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock valued at $264,391,000 after purchasing an additional 2,188,521 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Jabil in the second quarter worth approximately $78,660,000. AQR Capital Management LLC lifted its holdings in shares of Jabil by 195.8% in the second quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock valued at $115,404,000 after purchasing an additional 702,199 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in Jabil by 406.5% during the 3rd quarter. Two Sigma Advisers LP now owns 722,800 shares of the technology company’s stock worth $86,613,000 after acquiring an additional 580,100 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Jabil by 11.3% during the third quarter. FMR LLC now owns 5,116,308 shares of the technology company’s stock valued at $613,087,000 after purchasing an additional 520,672 shares in the last quarter. 93.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on JBL. Bank of America raised their target price on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. cut their target price on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. StockNews.com raised shares of Jabil from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 27th. Barclays boosted their price objective on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Finally, Stifel Nicolaus raised their price objective on shares of Jabil from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $145.17.

Insiders Place Their Bets

In related news, EVP Matthew Crowley sold 1,380 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $125.83, for a total transaction of $173,645.40. Following the completion of the sale, the executive vice president now directly owns 18,568 shares in the company, valued at $2,336,411.44. This represents a 6.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was 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 in the company, valued at approximately $17,346,767.60. This trade represents a 12.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,689 shares of company stock valued at $5,377,431 over the last three months. Insiders own 2.62% of the company’s stock.

Jabil Trading Down 0.1 %

Shares of Jabil stock opened at $135.64 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94. The firm has a market cap of $15.31 billion, a PE ratio of 12.31, a PEG ratio of 1.61 and a beta of 1.25. The company has a 50 day simple moving average of $128.11 and a two-hundred day simple moving average of $117.04.

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

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. Jabil’s payout ratio is 2.90%.

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).