Brown Brothers Harriman & Co. Trims Stake in Jabil Inc. (NYSE:JBL)

Brown Brothers Harriman & Co. decreased its stake in shares of Jabil Inc. (NYSE:JBL) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,708 shares of the technology company’s stock after selling 80 shares during the period. Brown Brothers Harriman & Co.’s holdings in Jabil were worth $324,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Daiwa Securities Group Inc. increased its position in Jabil by 2.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 13,833 shares of the technology company’s stock worth $1,658,000 after purchasing an additional 384 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Jabil by 45.0% during the 3rd quarter. Larson Financial Group LLC now owns 2,444 shares of the technology company’s stock worth $293,000 after purchasing an additional 758 shares during the last quarter. AlphaCore Capital LLC raised its position in shares of Jabil by 4.7% in the third quarter. AlphaCore Capital LLC now owns 3,145 shares of the technology company’s stock valued at $377,000 after buying an additional 141 shares during the last quarter. Eagle Asset Management Inc. purchased a new position in shares of Jabil during the third quarter valued at approximately $5,434,000. Finally, Pacer Advisors Inc. lifted its stake 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 valued at $264,391,000 after buying an additional 2,188,521 shares during the period. 93.39% of the stock is owned by institutional investors and hedge funds.

Jabil Price Performance

JBL opened at $133.35 on Thursday. The company has a 50 day moving average of $124.91 and a two-hundred day moving average of $116.03. 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 has a market cap of $15.05 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.58 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 (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.08. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.59 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The firm’s quarterly revenue was down 17.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.34 EPS. On average, analysts expect that Jabil Inc. will post 7.84 earnings per share for the current year.

Jabil Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have weighed in on JBL shares. Stifel Nicolaus boosted their price target on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, September 27th. Bank of America increased their target price on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. StockNews.com upgraded Jabil from a “buy” rating to a “strong-buy” rating in a report on Wednesday. JPMorgan Chase & Co. dropped 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. Finally, Barclays raised their target price on shares of Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $143.50.

Insider Buying and Selling at Jabil

In other news, EVP Matthew Crowley sold 1,380 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was 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 trade represents a 6.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Frederic E. Mccoy sold 4,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $118.70, for a total value of $474,800.00. Following the completion of the transaction, the executive vice president now owns 108,753 shares in the company, valued at approximately $12,908,981.10. This trade represents a 3.55 % 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 90 days. 2.62% of the stock is owned by corporate insiders.

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).