Jabil Inc. (NYSE:JBL) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC trimmed its position in shares of Jabil Inc. (NYSE:JBL - Free Report) by 89.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,327 shares of the technology company's stock after selling 19,026 shares during the period. Cresset Asset Management LLC's holdings in Jabil were worth $335,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake 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 worth $835,876,000 after purchasing an additional 5,800,535 shares in the last quarter. FMR LLC raised its stake 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. Geode Capital Management LLC raised its stake in shares of Jabil by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company's stock valued at $404,024,000 after acquiring an additional 34,574 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of 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 acquiring an additional 288,806 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Jabil in the fourth quarter valued at $218,430,000. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on JBL shares. The Goldman Sachs Group reduced their price objective on Jabil from $175.00 to $146.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. StockNews.com upgraded Jabil from a "hold" rating to a "buy" rating in a research note on Monday. Barclays increased their price objective on Jabil from $179.00 to $184.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. UBS Group increased their price objective on Jabil from $152.00 to $157.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. cut their price target on Jabil from $175.00 to $154.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $158.50.

Insider Buying and Selling

In related news, CEO Michael Dastoor sold 10,000 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $169.90, for a total value of $1,699,000.00. Following the transaction, the chief executive officer now owns 221,693 shares in the company, valued at $37,665,640.70. The trade was a 4.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Mark T. Mondello sold 20,000 shares of the business's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $131.56, for a total value of $2,631,200.00. Following the completion of the transaction, the chairman now owns 1,730,192 shares in the company, valued at $227,624,059.52. This trade represents a 1.14% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.73% of the company's stock.

Jabil Stock Performance

NYSE:JBL traded up $0.03 during mid-day trading on Tuesday, reaching $167.47. 1,390,409 shares of the stock were exchanged, compared to its average volume of 1,441,584. The stock has a market capitalization of $17.98 billion, a P/E ratio of 16.06, a P/E/G ratio of 1.65 and a beta of 1.11. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $174.80. The company has a 50 day simple moving average of $142.05 and a 200-day simple moving average of $145.76. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $6.40 billion. During the same quarter in the previous year, the business earned $1.68 earnings per share. The firm's revenue for the quarter was down .6% on a year-over-year basis. Analysts anticipate that Jabil Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend is Thursday, May 15th. Jabil's dividend payout ratio is currently 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).