Tiverton Asset Management LLC Sells 2,264 Shares of Jabil Inc (NYSE:JBL)
Tiverton Asset Management LLC cut its holdings in shares of Jabil Inc (NYSE:JBL) by 17.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,483 shares of the technology company’s stock after selling 2,264 shares during the quarter. Tiverton Asset Management LLC’s holdings in Jabil were worth $331,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of JBL. Janus Henderson Group PLC lifted its holdings in Jabil by 17.6% during the 1st quarter. Janus Henderson Group PLC now owns 13,615 shares of the technology company’s stock valued at $362,000 after purchasing an additional 2,040 shares during the last quarter. Texas Permanent School Fund lifted its position in shares of Jabil by 1.6% in the 1st quarter. Texas Permanent School Fund now owns 95,595 shares of the technology company’s stock worth $2,542,000 after purchasing an additional 1,515 shares during the period. Stephens Inc. AR bought a new stake in shares of Jabil during the first quarter valued at approximately $202,000. CIBC Asset Management Inc grew its holdings in Jabil by 4.1% in the first quarter. CIBC Asset Management Inc now owns 10,141 shares of the technology company’s stock worth $270,000 after purchasing an additional 398 shares during the period. Finally, Raymond James & Associates grew its stake in shares of Jabil by 8.0% in the first quarter. Raymond James & Associates now owns 103,180 shares of the technology company’s stock worth $2,744,000 after acquiring an additional 7,617 shares during the last quarter. 88.85% of the stock is currently owned by institutional investors and hedge funds.
JBL has been the topic of a number of research analyst reports. Citigroup upgraded shares of Jabil from a “sell” rating to a “buy” rating and increased their price objective for the company from $27.00 to $36.00 in a research report on Thursday, August 29th. Zacks Investment Research cut shares of Jabil from a “hold” rating to a “sell” rating and set a $29.00 target price on the stock. in a report on Wednesday, June 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Jabil has an average rating of “Hold” and an average target price of $31.33.
Jabil (NYSE:JBL) last released its quarterly earnings results on Tuesday, June 18th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.57. Jabil had a return on equity of 18.57% and a net margin of 0.72%. The business had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $6.01 billion. During the same period in the previous year, the company posted $0.46 EPS. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, research analysts anticipate that Jabil Inc will post 2.16 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Wednesday, August 14th. Jabil’s dividend payout ratio (DPR) is presently 14.75%.
In other news, CEO Michael J. Loparco sold 3,500 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $31.50, for a total value of $110,250.00. Following the completion of the sale, the chief executive officer now directly owns 282,943 shares in the company, valued at approximately $8,912,704.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Bruce Allan Johnson sold 6,000 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $31.50, for a total value of $189,000.00. Following the completion of the transaction, the senior vice president now directly owns 147,700 shares in the company, valued at $4,652,550. The disclosure for this sale can be found here. In the last three months, insiders sold 36,500 shares of company stock worth $1,158,595. 2.90% of the stock is currently owned by insiders.
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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