Aigen Investment Management LP Lowers Stock Holdings in Jabil Inc. (NYSE:JBL)

Aigen Investment Management LP trimmed its stake in Jabil Inc. (NYSE:JBL) by 53.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,313 shares of the technology company’s stock after selling 7,222 shares during the period. Aigen Investment Management LP’s holdings in Jabil were worth $756,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Primecap Management Co. CA boosted its position in Jabil by 3.0% in the 2nd quarter. Primecap Management Co. CA now owns 3,682,875 shares of the technology company’s stock valued at $400,660,000 after buying an additional 107,800 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Jabil by 7.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,636,737 shares of the technology company’s stock worth $178,058,000 after purchasing an additional 106,808 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Jabil by 29.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock worth $150,463,000 after purchasing an additional 310,590 shares during the period. AQR Capital Management LLC lifted its position in shares of Jabil by 195.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock worth $115,404,000 after purchasing an additional 702,199 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Jabil in the 2nd quarter worth approximately $78,660,000. 93.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Jabil

In other news, EVP Frederic E. Mccoy sold 4,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total value of $474,800.00. Following the sale, the executive vice president now directly owns 108,753 shares of the company’s stock, valued at $12,908,981.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Frederic E. Mccoy sold 4,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total value of $474,800.00. Following the sale, the executive vice president now directly owns 108,753 shares of the company’s stock, valued at $12,908,981.10. This represents a 0.00 % 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, SVP Francis Mckay sold 11,755 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the completion of the sale, the senior vice president now directly owns 41,507 shares in the company, valued at $5,051,816.97. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,689 shares of company stock worth $5,377,431. 2.62% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Barclays boosted their price objective on shares of Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Bank of America boosted their price objective on shares of Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Jabil presently has an average rating of “Moderate Buy” and an average price target of $143.50.

Jabil Trading Down 0.9 %

Shares of Jabil stock opened at $131.73 on Thursday. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66. Jabil Inc. has a 12-month low of $95.85 and a 12-month high of $156.94. The firm has a market capitalization of $14.86 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 1.57 and a beta of 1.24. The firm’s 50 day simple moving average is $120.19 and its two-hundred day simple moving average is $115.25.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.08. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.59 billion. During the same quarter in the prior year, the business posted $2.34 EPS. Jabil’s revenue for the quarter was down 17.7% compared to the same quarter last year. Analysts predict that Jabil Inc. will post 7.84 EPS for the current year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. Jabil’s payout ratio is 2.90%.

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).