Signature Estate & Investment Advisors LLC Sells 6,880 Shares of Jabil Inc. (NYSE:JBL)

Signature Estate & Investment Advisors LLC decreased its holdings in Jabil Inc. (NYSE:JBL) by 28.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,914 shares of the technology company’s stock after selling 6,880 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in Jabil were worth $2,027,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its holdings in Jabil by 141.7% during the 1st quarter. Cetera Investment Advisers now owns 17,350 shares of the technology company’s stock valued at $2,324,000 after buying an additional 10,173 shares during the period. CreativeOne Wealth LLC grew its position in Jabil by 239.2% during the first quarter. CreativeOne Wealth LLC now owns 10,116 shares of the technology company’s stock valued at $1,355,000 after buying an additional 7,134 shares during the period. Westfield Capital Management Co. LP purchased a new position in Jabil during the first quarter valued at $39,040,000. State Board of Administration of Florida Retirement System raised its stake in Jabil by 7.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 156,119 shares of the technology company’s stock valued at $20,912,000 after purchasing an additional 11,469 shares during the last quarter. Finally, CCM Investment Advisers LLC grew its holdings in Jabil by 6.0% in the 2nd quarter. CCM Investment Advisers LLC now owns 149,208 shares of the technology company’s stock valued at $16,232,000 after buying an additional 8,405 shares in the last quarter. 93.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on JBL. Bank of America upped their price objective on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Barclays increased their price target on shares of Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. JPMorgan Chase & Co. decreased their price target on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Finally, Stifel Nicolaus raised their price target on Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $143.50.

Jabil Price Performance

JBL opened at $129.08 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66. The stock has a fifty day moving average price of $120.72 and a 200 day moving average price of $115.34. The stock has a market cap of $14.57 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.55 and a beta of 1.24. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94.

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

Jabil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be given 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 0.25%. Jabil’s payout ratio is presently 2.90%.

Insider Buying and Selling

In other Jabil news, EVP Matthew Crowley sold 1,380 shares of Jabil stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $125.83, for a total value of $173,645.40. Following the completion of the sale, the executive vice president now owns 18,568 shares in the company, valued at $2,336,411.44. The trade was a 6.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 value of $1,430,701.05. Following the sale, the senior vice president now owns 41,507 shares of the company’s stock, valued at approximately $5,051,816.97. The trade was a 22.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,689 shares of company stock valued at $5,377,431 over the last three months. Company insiders own 2.62% of the company’s stock.

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).