California Public Employees Retirement System trimmed its position in shares of Jabil Inc. (NYSE:JBL – Get Rating) by 5.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 318,066 shares of the technology company’s stock after selling 19,148 shares during the period. California Public Employees Retirement System’s holdings in Jabil were worth $22,376,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in JBL. BlackRock Inc. raised its position in shares of Jabil by 3.2% during the third quarter. BlackRock Inc. now owns 12,174,914 shares of the technology company’s stock valued at $710,649,000 after buying an additional 383,062 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Jabil by 3.6% during the third quarter. Bank of New York Mellon Corp now owns 1,609,163 shares of the technology company’s stock valued at $93,927,000 after buying an additional 55,690 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Jabil by 0.3% during the third quarter. Goldman Sachs Group Inc. now owns 1,587,778 shares of the technology company’s stock valued at $92,679,000 after buying an additional 4,536 shares during the last quarter. Millennium Management LLC raised its position in shares of Jabil by 21.5% during the third quarter. Millennium Management LLC now owns 1,457,849 shares of the technology company’s stock valued at $85,095,000 after buying an additional 257,615 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Jabil by 19.4% during the fourth quarter. Bank of America Corp DE now owns 1,392,689 shares of the technology company’s stock valued at $97,975,000 after buying an additional 226,390 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.
In other news, CEO Mark T. Mondello sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $62.20, for a total transaction of $746,400.00. Following the completion of the sale, the chief executive officer now owns 2,055,589 shares of the company’s stock, valued at $127,857,635.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.59% of the company’s stock.
Jabil (NYSE:JBL – Get Rating) last posted its quarterly earnings data on Wednesday, March 16th. The technology company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.24. The company had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.44 billion. Jabil had a net margin of 2.63% and a return on equity of 36.62%. The company’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $0.99 earnings per share. On average, research analysts expect that Jabil Inc. will post 6.4 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 2nd. Stockholders of record on Monday, May 16th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Friday, May 13th. Jabil’s payout ratio is 5.90%.
A number of research analysts have recently commented on JBL shares. Zacks Investment Research raised shares of Jabil from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Monday, March 21st. Citigroup reaffirmed a “top pick” rating and set a $90.00 price objective on shares of Jabil in a research report on Thursday, March 17th. Finally, StockNews.com raised shares of Jabil from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 15th. Five research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, Jabil has an average rating of “Buy” and an average target price of $77.14.
Jabil Company Profile (Get Rating)
Jabil Inc provides manufacturing services and solutions worldwide. The company operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides electronic 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).
- Get a free copy of the StockNews.com research report on Jabil (JBL)
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