Stanley Laman Group Ltd. Reduces Holdings in Jabil Inc. (NYSE:JBL)

Stanley Laman Group Ltd. lowered its position in shares of Jabil Inc. (NYSE:JBL) by 18.3% during the first quarter, Holdings Channel reports. The firm owned 28,514 shares of the technology company’s stock after selling 6,395 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Jabil were worth $3,880,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fifth Third Bancorp raised its position in Jabil by 18.8% in the 1st quarter. Fifth Third Bancorp now owns 4,791 shares of the technology company’s stock valued at $652,000 after purchasing an additional 757 shares during the last quarter. Alhambra Investment Management LLC acquired a new position in Jabil in the first quarter valued at $301,000. Assenagon Asset Management S.A. increased its stake in Jabil by 119.6% in the first quarter. Assenagon Asset Management S.A. now owns 349,300 shares of the technology company’s stock valued at $47,529,000 after purchasing an additional 190,242 shares during the period. MV Capital Management Inc. raised its holdings in shares of Jabil by 2,070.8% in the first quarter. MV Capital Management Inc. now owns 521 shares of the technology company’s stock valued at $71,000 after buying an additional 497 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of Jabil by 20.2% during the first quarter. Handelsbanken Fonder AB now owns 238,348 shares of the technology company’s stock worth $32,432,000 after buying an additional 40,000 shares during the period. 93.39% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $166.75, for a total value of $3,335,000.00. Following the sale, the chairman now owns 1,710,192 shares of the company’s stock, valued at $285,174,516. This trade represents a 1.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Dastoor sold 10,000 shares of Jabil stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 221,693 shares in the company, valued at approximately $37,665,640.70. This trade represents a 4.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock valued at $7,665,200 in the last quarter. Insiders own 1.73% of the company’s stock.

Jabil Trading Up 0.4%

JBL opened at $179.09 on Friday. The firm has a market capitalization of $19.22 billion, a P/E ratio of 17.17, a P/E/G ratio of 1.65 and a beta of 1.14. The firm’s 50 day moving average is $154.43 and its 200-day moving average is $150.46. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $180.16.

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

Jabil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date was Thursday, May 15th. Jabil’s dividend payout ratio is presently 7.66%.

Analysts Set New Price Targets

Several brokerages recently issued reports on JBL. UBS Group boosted their price target on Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. JPMorgan Chase & Co. cut their price target on Jabil from $175.00 to $154.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Wall Street Zen raised Jabil from a “hold” rating to a “buy” rating in a report on Monday, May 19th. The Goldman Sachs Group lifted their price objective on shares of Jabil from $165.00 to $188.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Barclays upped their price objective on shares of Jabil from $184.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.17.

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).