Jabil, Inc. (NYSE:JBL) Position Lessened by CWA Asset Management Group LLC

CWA Asset Management Group LLC reduced its stake in shares of Jabil, Inc. (NYSE:JBL) by 9.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,777 shares of the technology company’s stock after selling 5,810 shares during the quarter. CWA Asset Management Group LLC’s holdings in Jabil were worth $7,181,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in JBL. SBI Securities Co. Ltd. bought a new position in shares of Jabil during the fourth quarter worth about $27,000. Murphy & Mullick Capital Management Corp bought a new stake in Jabil in the 4th quarter valued at about $29,000. Harbor Capital Advisors Inc. boosted its stake in Jabil by 110.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company’s stock valued at $30,000 after purchasing an additional 116 shares during the period. Millstone Evans Group LLC acquired a new position in Jabil during the 4th quarter valued at about $37,000. Finally, First Horizon Advisors Inc. grew its position in Jabil by 90.3% in the 4th quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company’s stock worth $39,000 after purchasing an additional 130 shares during the last quarter. 93.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on JBL shares. JPMorgan Chase & Co. cut their price target on Jabil from $175.00 to $154.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Barclays raised their target price on Jabil from $184.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, June 10th. UBS Group lifted their target price on Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Wall Street Zen raised Jabil from a “hold” rating to a “buy” rating in a research note on Monday, May 19th. Finally, The Goldman Sachs Group raised their price target on Jabil from $165.00 to $188.00 and gave the company a “buy” rating in a report on Tuesday, June 10th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $169.17.

Insider Buying and Selling

In other news, CEO Michael Dastoor sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $169.90, for a total transaction of $1,699,000.00. Following the completion of the sale, the chief executive officer now directly owns 221,693 shares of the company’s stock, valued at $37,665,640.70. This trade represents a 4.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Mark T. Mondello sold 20,000 shares of Jabil stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $166.75, for a total value of $3,335,000.00. Following the completion of the transaction, the chairman now owns 1,710,192 shares in the company, valued at $285,174,516. The trade was a 1.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock worth $7,665,200 in the last ninety days. 1.73% of the stock is currently owned by corporate insiders.

Jabil Price Performance

Shares of NYSE:JBL opened at $196.42 on Wednesday. The stock has a market cap of $21.09 billion, a price-to-earnings ratio of 46.99, a PEG ratio of 1.76 and a beta of 1.14. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.02 and a quick ratio of 0.66. Jabil, Inc. has a 12 month low of $95.85 and a 12 month high of $203.90. The stock’s 50 day moving average price is $157.94 and its 200 day moving average price is $151.63.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.27. Jabil had a return on equity of 49.64% and a net margin of 1.76%. The company had revenue of $7.83 billion for the quarter, compared to analysts’ expectations of $7.03 billion. During the same period last year, the firm earned $1.89 EPS. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. Equities research analysts anticipate that Jabil, Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Thursday, May 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.16%. Jabil’s payout ratio is currently 7.66%.

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).