AustralianSuper Pty Ltd Sells 10,987 Shares of Jabil, Inc. $JBL

Key Points

• AustralianSuper Pty Ltd reduced its Jabil stake by 23.2% in the fourth quarter, selling 10,987 shares and leaving it with 36,308 shares valued at about $8.28 million.
• Jabil’s latest quarterly results topped expectations, with EPS of $2.69 versus the $2.51 estimate and revenue of $8.28 billion versus $7.75 billion expected. Revenue rose 23.1% from a year earlier.
• Analysts remain broadly bullish on Jabil, with several firms raising price targets and MarketBeat showing a consensus rating of “Buy” and an average price target of $290.63.

AustralianSuper Pty Ltd lessened its stake in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 23.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 36,308 shares of the technology company's stock after selling 10,987 shares during the quarter. AustralianSuper Pty Ltd's holdings in Jabil were worth $8,279,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of JBL. Arrowstreet Capital Limited Partnership lifted its stake in shares of Jabil by 1,157.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,454,915 shares of the technology company's stock worth $315,964,000 after buying an additional 1,339,247 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Jabil during the fourth quarter worth approximately $121,710,000. Allianz Asset Management GmbH boosted its holdings in shares of Jabil by 180.1% during the third quarter. Allianz Asset Management GmbH now owns 758,326 shares of the technology company's stock worth $164,686,000 after acquiring an additional 487,595 shares during the period. M&T Bank Corp boosted its holdings in shares of Jabil by 2,833.4% during the fourth quarter. M&T Bank Corp now owns 348,987 shares of the technology company's stock worth $79,576,000 after acquiring an additional 337,090 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Jabil by 125.4% during the third quarter. Barclays PLC now owns 588,155 shares of the technology company's stock worth $127,730,000 after acquiring an additional 327,238 shares during the period. Institutional investors and hedge funds own 93.39% of the company's stock.

Jabil Stock Down 4.2%

NYSE JBL opened at $339.52 on Friday. The company has a 50 day moving average of $297.85 and a 200-day moving average of $255.15. The company has a market cap of $35.82 billion, a price-to-earnings ratio of 45.57, a PEG ratio of 1.84 and a beta of 1.29. The company has a current ratio of 1.01, a quick ratio of 0.68 and a debt-to-equity ratio of 2.50. Jabil, Inc. has a 1-year low of $161.52 and a 1-year high of $372.37.

Jabil (NYSE:JBL - Get Free Report) last released its earnings results on Wednesday, March 18th. The technology company reported $2.69 earnings per share for the quarter, beating analysts' consensus estimates of $2.51 by $0.18. The firm had revenue of $8.28 billion during the quarter, compared to the consensus estimate of $7.75 billion. Jabil had a return on equity of 80.96% and a net margin of 2.48%.The company's revenue was up 23.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.94 EPS. On average, equities research analysts expect that Jabil, Inc. will post 11.3 earnings per share for the current fiscal year.

Jabil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Friday, May 15th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Friday, May 15th. Jabil's dividend payout ratio is presently 4.30%.

Insider Activity

In related news, SVP May Yee Yap sold 1,634 shares of Jabil stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $306.74, for a total value of $501,213.16. Following the transaction, the senior vice president directly owned 23,787 shares of the company's stock, valued at $7,296,424.38. This trade represents a 6.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Andrew Priestley sold 3,169 shares of Jabil stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $330.00, for a total transaction of $1,045,770.00. Following the completion of the transaction, the executive vice president directly owned 57,098 shares in the company, valued at $18,842,340. This trade represents a 5.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 37,981 shares of company stock valued at $11,360,740. Company insiders own 1.35% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Bank of America boosted their price objective on Jabil from $295.00 to $354.00 and gave the stock a "buy" rating in a report on Monday, April 20th. UBS Group upped their price objective on Jabil from $244.00 to $254.00 and gave the company a "neutral" rating in a report on Tuesday, March 10th. Zacks Research raised Jabil from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 15th. JPMorgan Chase & Co. upped their price objective on Jabil from $270.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, March 12th. Finally, Stifel Nicolaus raised their price target on shares of Jabil from $255.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, March 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $290.63.

About Jabil

Jabil Inc NYSE: JBL is a global manufacturing solutions provider specializing in electronic manufacturing services (EMS) and diversified products across a wide range of industries. The company partners with original equipment manufacturers to deliver design engineering, supply chain management, precision manufacturing, and aftermarket services. Jabil's expertise spans sectors such as healthcare, automotive, clean technology, telecommunications, consumer electronics, and packaging, enabling it to support both high-volume production and complex, mission-critical applications.

Founded in 1966 by William E.

Want to see what other hedge funds are holding JBL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jabil, Inc. (NYSE:JBL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.