Two Sigma Investments LP Lowers Stake in Jabil Inc. (NYSE:JBL)

Two Sigma Investments LP lessened its stake in Jabil Inc. (NYSE:JBL) by 73.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 277,588 shares of the technology company’s stock after selling 763,673 shares during the period. Two Sigma Investments LP owned 0.25% of Jabil worth $39,945,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in JBL. Truist Financial Corp grew its stake in Jabil by 50.4% in the 4th quarter. Truist Financial Corp now owns 12,037 shares of the technology company’s stock worth $1,732,000 after acquiring an additional 4,034 shares in the last quarter. Merit Financial Group LLC purchased a new stake in shares of Jabil in the fourth quarter valued at approximately $235,000. Keybank National Association OH bought a new position in Jabil in the fourth quarter worth approximately $214,000. Principal Financial Group Inc. grew its stake in Jabil by 4.4% in the fourth quarter. Principal Financial Group Inc. now owns 143,266 shares of the technology company’s stock worth $20,616,000 after purchasing an additional 5,993 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Jabil by 6.6% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 32,104 shares of the technology company’s stock worth $4,620,000 after purchasing an additional 1,995 shares during the period. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Wall Street Analyst Weigh In

JBL has been the topic of a number of recent research reports. UBS Group increased their price target on Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. The Goldman Sachs Group lowered their price objective on shares of Jabil from $175.00 to $146.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. StockNews.com raised shares of Jabil from a “hold” rating to a “buy” rating in a research report on Monday. Barclays boosted their price target on shares of Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Jabil from $175.00 to $154.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $158.50.

Jabil Price Performance

Shares of JBL stock opened at $167.47 on Wednesday. The stock’s 50-day moving average is $142.79 and its 200 day moving average is $145.91. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $174.80. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72. The company has a market cap of $17.98 billion, a P/E ratio of 16.06, a PEG ratio of 1.65 and a beta of 1.11.

Jabil (NYSE:JBL) last released its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same period in the prior year, the firm posted $1.68 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. Research analysts predict that Jabil Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.19%. The ex-dividend date is Thursday, May 15th. Jabil’s dividend payout ratio is currently 7.66%.

Insider Transactions at Jabil

In other news, Chairman Mark T. Mondello sold 20,000 shares of the firm’s stock in a transaction on Friday, April 11th. The stock was sold at an average price of $131.56, for a total value of $2,631,200.00. Following the completion of the sale, the chairman now owns 1,730,192 shares of the company’s stock, valued at $227,624,059.52. This trade represents a 1.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Dastoor sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $169.90, for a total value of $1,699,000.00. Following the transaction, the chief executive officer now directly owns 221,693 shares in the company, valued at $37,665,640.70. This represents a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.73% of the company’s stock.

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).