Evercore Wealth Management LLC cut its holdings in Jabil Inc (NYSE:JBL) by 14.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 115,000 shares of the technology company’s stock after selling 20,000 shares during the quarter. Evercore Wealth Management LLC owned approximately 0.07% of Jabil worth $3,114,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in JBL. Strs Ohio acquired a new stake in Jabil in the second quarter valued at about $30,790,000. Fuller & Thaler Asset Management Inc. boosted its stake in Jabil by 45,361.7% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,045,620 shares of the technology company’s stock valued at $28,922,000 after buying an additional 1,043,320 shares in the last quarter. Paradigm Capital Management Inc. NY acquired a new stake in Jabil in the second quarter valued at about $20,811,000. Natixis boosted its stake in Jabil by 4,690.5% in the second quarter. Natixis now owns 606,663 shares of the technology company’s stock valued at $16,780,000 after buying an additional 593,999 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Jabil by 22.7% in the second quarter. Wells Fargo & Company MN now owns 2,280,837 shares of the technology company’s stock valued at $63,087,000 after buying an additional 422,627 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Mark T. Mondello sold 30,000 shares of the firm’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $30.01, for a total transaction of $900,300.00. Following the completion of the transaction, the chief executive officer now directly owns 1,801,889 shares in the company, valued at $54,074,688.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President William E. Peters sold 13,915 shares of the firm’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $26.00, for a total value of $361,790.00. Following the transaction, the president now owns 368,388 shares of the company’s stock, valued at $9,578,088. The disclosure for this sale can be found here. Insiders sold 78,330 shares of company stock valued at $2,178,856 over the last quarter. Corporate insiders own 2.60% of the company’s stock.
Jabil (NYSE:JBL) last posted its earnings results on Tuesday, September 25th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. The firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.41 billion. Jabil had a return on equity of 16.56% and a net margin of 0.39%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the company earned $0.64 earnings per share.
The company also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Shareholders of record on Thursday, November 15th were given a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, November 14th. This represents a $0.32 annualized dividend and a yield of 1.31%. Jabil’s dividend payout ratio is presently 14.75%.
Several research firms recently weighed in on JBL. ValuEngine raised Jabil from a “sell” rating to a “hold” rating in a research note on Wednesday, November 28th. Citigroup reduced their price objective on Jabil to $24.00 and set a “sell” rating on the stock in a research note on Tuesday, November 27th. They noted that the move was a valuation call. JPMorgan Chase & Co. reduced their price objective on Jabil from $37.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, November 14th. Goldman Sachs Group upgraded Jabil from a “sell” rating to a “neutral” rating and set a $25.00 target price for the company in a research report on Sunday, November 11th. Finally, TheStreet downgraded Jabil from a “b-” rating to a “c+” rating in a research report on Tuesday, October 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Jabil currently has a consensus rating of “Hold” and a consensus price target of $29.75.
Jabil Company Profile
Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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).
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