Cambridge Investment Research Advisors Inc. Sells 5,244 Shares of Jabil, Inc. (NYSE:JBL)

Cambridge Investment Research Advisors Inc. decreased its position in Jabil, Inc. (NYSE:JBL - Free Report) by 35.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,683 shares of the technology company's stock after selling 5,244 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Jabil were worth $1,318,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in Jabil by 70,781.4% in the 4th quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company's stock worth $835,876,000 after buying an additional 5,800,535 shares during the last quarter. FMR LLC lifted its position in Jabil by 8.1% in the fourth quarter. FMR LLC now owns 5,533,149 shares of the technology company's stock worth $796,220,000 after buying an additional 416,841 shares during the last quarter. Geode Capital Management LLC lifted its position in Jabil by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company's stock worth $404,024,000 after buying an additional 34,574 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Jabil by 18.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company's stock worth $270,187,000 after purchasing an additional 288,806 shares during the period. Finally, Norges Bank purchased a new position in shares of Jabil during the fourth quarter valued at $218,430,000. Institutional investors own 93.39% of the company's stock.

Insider Buying and Selling

In other news, SVP May Yee Yap sold 6,787 shares of the company's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $206.00, for a total value of $1,398,122.00. Following the transaction, the senior vice president owned 25,582 shares of the company's stock, valued at $5,269,892. This represents a 20.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven A. Raymund sold 15,955 shares of the stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $216.83, for a total value of $3,459,522.65. Following the transaction, the director directly owned 99,828 shares in the company, valued at approximately $21,645,705.24. The trade was a 13.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 316,431 shares of company stock worth $60,571,609 over the last quarter. Corporate insiders own 1.73% of the company's stock.

Jabil Stock Up 1.2%

Jabil stock opened at $224.55 on Friday. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.98 and a quick ratio of 0.64. Jabil, Inc. has a 12 month low of $95.85 and a 12 month high of $227.54. The stock has a market capitalization of $24.10 billion, a PE ratio of 43.60, a price-to-earnings-growth ratio of 1.55 and a beta of 1.20. The business has a 50 day simple moving average of $176.75 and a 200-day simple moving average of $158.04.

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

Jabil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Thursday, May 15th. Jabil's payout ratio is currently 6.21%.

Analyst Ratings Changes

Several brokerages have recently commented on JBL. UBS Group raised their price target on Jabil from $157.00 to $208.00 and gave the company a "neutral" rating in a research note on Wednesday, June 18th. Stifel Nicolaus assumed coverage on Jabil in a research note on Wednesday. They set a "buy" rating and a $245.00 price target on the stock. The Goldman Sachs Group boosted their price target on Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Wall Street Zen raised Jabil from a "buy" rating to a "strong-buy" rating in a report on Friday, June 27th. Finally, Argus raised Jabil from a "hold" rating to a "buy" rating in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Jabil currently has an average rating of "Buy" and a consensus target price of $225.71.

About Jabil

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).

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