Valley Wealth Managers Inc. Cuts Stock Holdings in Jabil Inc. (NYSE:JBL)

Valley Wealth Managers Inc. lowered its holdings in shares of Jabil Inc. (NYSE:JBL) by 0.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 195,201 shares of the technology company’s stock after selling 701 shares during the quarter. Jabil accounts for about 1.7% of Valley Wealth Managers Inc.’s portfolio, making the stock its 13th largest position. Valley Wealth Managers Inc. owned about 0.17% of Jabil worth $23,391,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of JBL. Primecap Management Co. CA grew its position in shares of Jabil by 3.0% in the 2nd quarter. Primecap Management Co. CA now owns 3,682,875 shares of the technology company’s stock worth $400,660,000 after buying an additional 107,800 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Jabil by 7.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,636,737 shares of the technology company’s stock worth $178,058,000 after purchasing an additional 106,808 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Jabil by 29.0% during 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 acquiring an additional 310,590 shares during the period. AQR Capital Management LLC lifted its stake in Jabil by 195.8% during 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 during the period. Finally, Point72 Asset Management L.P. acquired a new stake in Jabil during the 2nd quarter valued at approximately $78,660,000. Institutional investors own 93.39% of the company’s stock.

Jabil Price Performance

Jabil stock traded down $0.22 during midday trading on Friday, reaching $128.82. The company’s stock had a trading volume of 120,558 shares, compared to its average volume of 1,445,163. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week 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 stock’s 50 day simple moving average is $120.72 and its 200 day simple moving average is $115.34. The firm has a market capitalization of $14.54 billion, a PE ratio of 11.71, a P/E/G ratio of 1.55 and a beta of 1.24.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.08. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The business had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.59 billion. During the same quarter last year, the business posted $2.34 earnings per share. The business’s revenue for the quarter was down 17.7% on a year-over-year basis. On average, equities research analysts forecast that Jabil Inc. will post 7.84 earnings per share for the current year.

Jabil Announces Dividend

The business also recently disclosed 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. This represents a $0.32 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Friday, November 15th. Jabil’s dividend payout ratio is presently 2.90%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, Director Steven A. Raymund sold 20,000 shares of the business’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 transaction of $2,494,000.00. Following 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Matthew Crowley sold 1,380 shares of the business’s stock in a transaction that occurred on 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 directly owns 18,568 shares in the company, valued at $2,336,411.44. This trade represents a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,689 shares of company stock worth $5,377,431. 2.62% of the stock is owned by corporate insiders.

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).