Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 3,058 Shares of Jabil, Inc. $JBL

Empirical Financial Services LLC d.b.a. Empirical Wealth Management reduced its position in shares of Jabil, Inc. (NYSE:JBL) by 28.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 7,841 shares of the technology company’s stock after selling 3,058 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Jabil were worth $1,710,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV bought a new stake in Jabil in the 1st quarter valued at $27,000. Harbor Capital Advisors Inc. grew its holdings in Jabil by 110.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company’s stock worth $30,000 after acquiring an additional 116 shares during the last quarter. Groupe la Francaise grew its holdings in Jabil by 35.2% during the 1st quarter. Groupe la Francaise now owns 246 shares of the technology company’s stock worth $34,000 after acquiring an additional 64 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Jabil by 2,400.0% in the 1st quarter. Golden State Wealth Management LLC now owns 275 shares of the technology company’s stock valued at $37,000 after purchasing an additional 264 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new position in shares of Jabil in the 1st quarter valued at about $52,000. 93.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Bank of America raised their target price on shares of Jabil from $245.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Wall Street Zen upgraded shares of Jabil from a “buy” rating to a “strong-buy” rating in a report on Friday. Argus upgraded shares of Jabil from a “hold” rating to a “buy” rating in a report on Wednesday, June 18th. JPMorgan Chase & Co. boosted their target price on shares of Jabil from $214.00 to $256.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Finally, Stifel Nicolaus assumed coverage on shares of Jabil in a report on Wednesday, July 2nd. They issued a “buy” rating and a $245.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Jabil currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.43.

Jabil Stock Performance

NYSE:JBL opened at $202.22 on Friday. The company has a market capitalization of $21.70 billion, a PE ratio of 33.93, a P/E/G ratio of 1.43 and a beta of 1.26. Jabil, Inc. has a fifty-two week low of $108.66 and a fifty-two week high of $237.14. The company has a 50 day simple moving average of $215.60 and a two-hundred day simple moving average of $187.15. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.66 and a current ratio of 1.00.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. Jabil’s dividend payout ratio (DPR) is currently 5.37%.

Insiders Place Their Bets

In other news, Chairman Mark T. Mondello sold 20,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $214.84, for a total transaction of $4,296,800.00. Following the completion of the sale, the chairman directly owned 1,380,190 shares of the company’s stock, valued at $296,520,019.60. This trade represents a 1.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven A. Raymund sold 13,432 shares of Jabil stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $223.11, for a total value of $2,996,813.52. Following the completion of the sale, the director directly owned 86,396 shares of the company’s stock, valued at approximately $19,275,811.56. This trade represents a 13.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,416 shares of company stock valued at $18,367,889. 1.73% of the stock is owned by company insiders.

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).