Legal & General Group Plc Sells 250,795 Shares of Jabil Inc. (NYSE:JBL)

Legal & General Group Plc lessened its stake in Jabil Inc. (NYSE:JBL) by 39.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 390,036 shares of the technology company’s stock after selling 250,795 shares during the period. Legal & General Group Plc owned about 0.36% of Jabil worth $56,126,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in shares of Jabil in the 4th quarter worth approximately $27,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Jabil in the fourth quarter valued at $29,000. Millstone Evans Group LLC bought a new position in Jabil in the fourth quarter worth $37,000. First Horizon Advisors Inc. boosted its stake in Jabil by 90.3% during the fourth quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company’s stock worth $39,000 after buying an additional 130 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Jabil by 113.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the technology company’s stock valued at $43,000 after buying an additional 158 shares during the period. 93.39% of the stock is owned by institutional investors and hedge funds.

Jabil Stock Down 0.1 %

Shares of JBL opened at $131.85 on Friday. The company has a market capitalization of $14.40 billion, a P/E ratio of 12.64, a PEG ratio of 1.65 and a beta of 1.12. Jabil Inc. has a one year low of $95.85 and a one year high of $174.80. The business’s 50 day simple moving average is $146.05 and its 200-day simple moving average is $141.08. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Thursday, March 20th. The technology company reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.11. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The company had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same quarter in the previous year, the firm earned $1.68 earnings per share. The business’s revenue was down .6% on a year-over-year basis. As a group, sell-side analysts predict that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.24%. The ex-dividend date was Tuesday, February 18th. Jabil’s payout ratio is presently 7.66%.

Insiders Place Their Bets

In other news, Director John C. Plant sold 50,000 shares of Jabil stock in a transaction on Friday, January 24th. The stock was sold at an average price of $172.55, for a total value of $8,627,500.00. Following the completion of the sale, the director now directly owns 5,900 shares of the company’s stock, valued at approximately $1,018,045. This trade represents a 89.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher S. Holland sold 3,400 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $162.27, for a total value of $551,718.00. Following the transaction, the director now directly owns 12,900 shares in the company, valued at $2,093,283. This trade represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. StockNews.com upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research report on Friday, March 21st. UBS Group lifted their price objective on Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Stifel Nicolaus reissued a “buy” rating and issued a $160.00 target price (up from $150.00) on shares of Jabil in a report on Thursday, December 19th. JPMorgan Chase & Co. boosted their price target on Jabil from $172.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Finally, The Goldman Sachs Group dropped their price objective on Jabil from $175.00 to $146.00 and set a “buy” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Jabil has an average rating of “Moderate Buy” and an average target price of $162.00.

Jabil 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).