Allspring Global Investments Holdings LLC Cuts Stake in Jabil, Inc. (NYSE:JBL)

Allspring Global Investments Holdings LLC cut its holdings in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 18.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 165,811 shares of the technology company's stock after selling 36,328 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.15% of Jabil worth $22,620,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in JBL. US Bancorp DE lifted its stake in Jabil by 7.0% in the fourth quarter. US Bancorp DE now owns 16,036 shares of the technology company's stock worth $2,308,000 after purchasing an additional 1,044 shares during the last quarter. Metis Global Partners LLC increased its holdings in shares of Jabil by 3.7% in the fourth quarter. Metis Global Partners LLC now owns 3,781 shares of the technology company's stock worth $544,000 after buying an additional 134 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of 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 acquiring an additional 158 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Jabil by 76.9% during the 4th quarter. Jones Financial Companies Lllp now owns 1,219 shares of the technology company's stock valued at $175,000 after acquiring an additional 530 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in Jabil during the 4th quarter worth approximately $27,000. 93.39% of the stock is currently owned by institutional investors.

Jabil Trading Up 1.2%

NYSE JBL traded up $2.66 during trading on Friday, hitting $224.55. The company had a trading volume of 1,129,028 shares, compared to its average volume of 1,417,597. The company's fifty day moving average is $178.31 and its 200-day moving average is $158.76. Jabil, Inc. has a one year low of $95.85 and a one year high of $227.54. The company has a current ratio of 0.98, a quick ratio of 0.64 and a debt-to-equity ratio of 1.85. The company has a market cap of $24.10 billion, a price-to-earnings ratio of 43.60, a price-to-earnings-growth ratio of 1.58 and a beta of 1.20.

Jabil (NYSE:JBL - Get Free Report) last released its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.28 by $0.27. Jabil had a net margin of 2.02% and a return on equity of 60.19%. The company had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.03 billion. During the same period in the prior year, the firm earned $1.89 earnings per share. Jabil's revenue was up 15.7% on a year-over-year basis. On average, sell-side analysts predict that Jabil, Inc. will post 8.05 earnings per share for the current year.

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Thursday, May 15th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.14%. Jabil's dividend payout ratio is presently 6.21%.

Insider Buying and Selling

In related news, SVP May Yee Yap sold 6,787 shares of Jabil stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $206.00, for a total transaction of $1,398,122.00. Following the completion of the transaction, the senior vice president directly owned 25,582 shares of the company's stock, valued at $5,269,892. This trade represents a 20.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Anousheh Ansari sold 2,500 shares of the company's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $207.57, for a total transaction of $518,925.00. Following the completion of the sale, the director owned 37,400 shares in the company, valued at approximately $7,763,118. This trade represents a 6.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 316,431 shares of company stock valued at $60,571,609 over the last 90 days. 1.73% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on JBL shares. JPMorgan Chase & Co. boosted their price objective on Jabil from $180.00 to $214.00 and gave the company an "overweight" rating in a research report on Wednesday, June 18th. Raymond James Financial reiterated a "strong-buy" rating and set a $230.00 price target (up from $170.00) on shares of Jabil in a report on Wednesday, June 18th. Wall Street Zen raised shares of Jabil from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 27th. Bank of America boosted their price objective on shares of Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, June 20th. Finally, Argus upgraded shares of Jabil from a "hold" rating to a "buy" rating in a report on Wednesday, June 18th. One analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $225.71.

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).