Jabil Inc. (NYSE:JBL) Shares Sold by Corton Capital Inc.

Corton Capital Inc. lessened its position in Jabil Inc. (NYSE:JBL - Free Report) by 58.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,093 shares of the technology company's stock after selling 3,003 shares during the period. Corton Capital Inc.'s holdings in Jabil were worth $301,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the company. Wellington Management Group LLP lifted its position in Jabil by 70,781.4% during the fourth quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company's stock valued at $835,876,000 after purchasing an additional 5,800,535 shares in the last quarter. Norges Bank acquired a new stake in Jabil during the fourth quarter worth about $218,430,000. FMR LLC lifted its position in shares of Jabil by 8.1% in the fourth quarter. FMR LLC now owns 5,533,149 shares of the technology company's stock valued at $796,220,000 after acquiring an additional 416,841 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Jabil in the fourth quarter valued at $43,312,000. Finally, JPMorgan Chase & Co. raised its position in Jabil by 18.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company's stock valued at $270,187,000 after purchasing an additional 288,806 shares during the period. 93.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Jabil

In related news, Chairman Mark T. Mondello sold 20,000 shares of the company's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $131.56, for a total value of $2,631,200.00. Following the transaction, the chairman now directly owns 1,730,192 shares of the company's stock, valued at $227,624,059.52. This represents a 1.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.73% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on JBL shares. UBS Group boosted their target price on Jabil from $152.00 to $157.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. StockNews.com cut Jabil from a "buy" rating to a "hold" rating in a report on Friday, April 18th. The Goldman Sachs Group dropped their price target on Jabil from $175.00 to $146.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Barclays boosted their price objective on Jabil from $179.00 to $184.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. lowered their target price on Jabil from $175.00 to $154.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $158.50.

Jabil Price Performance

Jabil stock traded up $7.42 during mid-day trading on Monday, reaching $161.40. The company had a trading volume of 424,966 shares, compared to its average volume of 1,451,845. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $174.80. The business has a fifty day simple moving average of $138.51 and a 200 day simple moving average of $144.02. The company has a market cap of $17.33 billion, a P/E ratio of 15.49, a P/E/G ratio of 1.65 and a beta of 1.11. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81.

Jabil (NYSE:JBL - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.11. The business had revenue of $6.73 billion for the quarter, compared to analysts' expectations of $6.40 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The firm's revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.68 earnings per share. On average, equities research analysts predict that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.20%. Jabil's payout ratio is 7.66%.

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).