Point72 Asia Singapore Pte. Ltd. Lowers Stock Holdings in Jabil Inc. (NYSE:JBL)

Point72 Asia Singapore Pte. Ltd. trimmed its holdings in shares of Jabil Inc. (NYSE:JBL) by 60.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 9,757 shares of the technology company’s stock after selling 14,792 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Jabil were worth $1,169,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in JBL. HHM Wealth Advisors LLC purchased a new position in shares of Jabil during the second quarter valued at approximately $28,000. Innealta Capital LLC purchased 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 during the third quarter valued at approximately $32,000. Family Firm Inc. purchased a new position in shares of Jabil during the second quarter valued at approximately $37,000. Finally, Brooklyn Investment Group bought a new stake in shares of Jabil during the third quarter valued at approximately $39,000. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Jabil Trading Up 1.9 %

NYSE:JBL opened at $135.83 on Monday. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66. Jabil Inc. has a 12 month low of $95.85 and a 12 month high of $156.94. The company has a market cap of $15.33 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.60 and a beta of 1.24. The company has a 50 day simple moving average of $126.30 and a two-hundred day simple moving average of $116.38.

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

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders 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 dividend yield of 0.24%. The ex-dividend date of this dividend is Friday, November 15th. Jabil’s payout ratio is 2.90%.

Insider Activity

In other news, EVP Matthew Crowley sold 1,380 shares of the business’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 owns 18,568 shares of the company’s stock, valued at $2,336,411.44. The trade was a 6.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven A. Raymund sold 20,000 shares of the business’s stock in a transaction 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 sale, 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. Insiders sold a total of 43,689 shares of company stock valued at $5,377,431 in the last 90 days. Company insiders own 2.62% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. StockNews.com raised shares of Jabil from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. Barclays raised their price target on shares of Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Stifel Nicolaus raised their price target on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Bank of America raised their price target on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, JPMorgan Chase & Co. reduced their price target 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. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $143.50.

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).