CCM Investment Advisers LLC Cuts Stock Position in Jabil, Inc. $JBL

Key Points

• CCM Investment Advisers LLC reduced its stake in Jabil, Inc. by 3.2% in Q2, now holding about 137,998 shares, making it the 5th largest position in their portfolio.
• Several institutional investors, including Wellington Management Group, increased their holdings in Jabil, with Wellington boosting its stake by 12.9% in Q1.
• Jabil's stock received multiple analyst upgrades, with Goldman Sachs raising the target price from $188 to $215 and assigning a "buy" rating.

CCM Investment Advisers LLC trimmed its holdings in Jabil, Inc. (NYSE:JBL - Free Report) by 3.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 137,998 shares of the technology company's stock after selling 4,498 shares during the period. Jabil accounts for approximately 3.2% of CCM Investment Advisers LLC's holdings, making the stock its 5th largest position. CCM Investment Advisers LLC owned about 0.13% of Jabil worth $30,098,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of JBL. Wellington Management Group LLP boosted its holdings in Jabil by 12.9% in the first quarter. Wellington Management Group LLP now owns 6,556,153 shares of the technology company's stock worth $892,096,000 after purchasing an additional 747,423 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Jabil by 119.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,215,678 shares of the technology company's stock worth $165,417,000 after acquiring an additional 662,938 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Jabil in the 1st quarter valued at approximately $81,378,000. GAMMA Investing LLC raised its stake in shares of Jabil by 17,410.3% in the 1st quarter. GAMMA Investing LLC now owns 524,958 shares of the technology company's stock valued at $71,431,000 after acquiring an additional 521,960 shares in the last quarter. Finally, Wedge Capital Management L L P NC acquired a new stake in Jabil in the 1st quarter worth approximately $51,257,000. Institutional investors own 93.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on JBL. The Goldman Sachs Group lifted their price target on shares of Jabil from $188.00 to $215.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Stifel Nicolaus assumed coverage on shares of Jabil in a research report on Wednesday, July 2nd. They set a "buy" rating and a $245.00 target price for the company. Zacks Research cut shares of Jabil from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. Wall Street Zen lowered Jabil from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Finally, Bank of America increased their target price on Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, June 20th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Jabil has a consensus rating of "Moderate Buy" and an average target price of $231.71.

Jabil Stock Up 0.5%

NYSE JBL opened at $234.45 on Wednesday. Jabil, Inc. has a twelve month low of $108.66 and a twelve month high of $237.14. The stock has a market cap of $25.16 billion, a PE ratio of 45.52, a PEG ratio of 1.38 and a beta of 1.25. The firm has a 50-day simple moving average of $216.82 and a 200 day simple moving average of $182.72. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.64 and a current ratio of 0.98.

Jabil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Friday, August 15th. Jabil's dividend payout ratio (DPR) is presently 6.21%.

Insider Buying and Selling at Jabil

In other news, EVP Andrew Priestley sold 3,702 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $225.00, for a total value of $832,950.00. Following the completion of the transaction, the executive vice president owned 44,833 shares in the company, valued at approximately $10,087,425. This represents a 7.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Anousheh Ansari sold 1,000 shares of Jabil stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $222.75, for a total transaction of $222,750.00. Following the sale, the director owned 36,400 shares in the company, valued at approximately $8,108,100. This trade represents a 2.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,371 shares of company stock valued at $22,085,161 in the last quarter. 1.73% of the stock is currently owned by corporate insiders.

Jabil 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).

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