Retirement Systems of Alabama Sells 1,936 Shares of Jabil Inc. (NYSE:JBL)

Retirement Systems of Alabama lowered its position in Jabil Inc. (NYSE:JBL) by 7.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,667 shares of the technology company’s stock after selling 1,936 shares during the period. Retirement Systems of Alabama’s holdings in Jabil were worth $2,956,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of JBL. Pacer Advisors Inc. grew its holdings in shares of Jabil by 12,251.7% during the third quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock worth $264,391,000 after purchasing an additional 2,188,521 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Jabil during the 2nd quarter worth about $78,660,000. AQR Capital Management LLC increased its position in 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 acquiring an additional 702,199 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Jabil by 406.5% during the third quarter. Two Sigma Advisers LP now owns 722,800 shares of the technology company’s stock worth $86,613,000 after purchasing an additional 580,100 shares in the last quarter. Finally, FMR LLC grew its stake 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 during the last quarter. 93.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Francis Mckay sold 11,755 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the completion of the transaction, the senior vice president now directly owns 41,507 shares of the company’s stock, valued at $5,051,816.97. This represents a 22.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Matthew Crowley sold 1,380 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $125.83, for a total value of $173,645.40. Following the transaction, the executive vice president now owns 18,568 shares of the company’s stock, valued at approximately $2,336,411.44. The trade was a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,689 shares of company stock worth $5,377,431 over the last ninety days. Company insiders own 1.73% of the company’s stock.

Jabil Stock Performance

JBL stock opened at $145.00 on Friday. Jabil Inc. has a 1-year low of $95.85 and a 1-year 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. The firm has a market cap of $16.20 billion, a PE ratio of 13.16, a P/E/G ratio of 1.57 and a beta of 1.25. The business’s 50-day moving average price is $130.72 and its two-hundred day moving average price is $118.12.

Jabil (NYSE:JBL) last released its quarterly earnings results on Wednesday, December 18th. The technology company reported $2.00 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 company had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.61 billion. During the same quarter last year, the firm posted $2.60 earnings per share. Jabil’s revenue was down 16.6% compared to the same quarter last year. As a group, research analysts forecast that Jabil Inc. will post 7.89 earnings per share for the current year.

Jabil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.22%. The ex-dividend date was Friday, November 15th. Jabil’s dividend payout ratio is 2.90%.

Analyst Ratings Changes

Several research firms have issued reports on JBL. Stifel Nicolaus reaffirmed a “buy” rating and set a $160.00 price objective (up previously from $150.00) on shares of Jabil in a report on Thursday. StockNews.com cut Jabil from a “strong-buy” rating to a “buy” rating in a report on Thursday. Bank of America boosted their price objective on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Barclays raised their target price on shares of Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a research note on Friday. Finally, UBS Group increased their price objective on shares of Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a report on Thursday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $153.17.

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).