CCM Investment Advisers LLC Trims Stake in Jabil Inc. (NYSE:JBL)

CCM Investment Advisers LLC lessened its position in Jabil Inc. (NYSE:JBL - Free Report) by 13.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 142,496 shares of the technology company's stock after selling 22,169 shares during the period. Jabil makes up about 2.4% of CCM Investment Advisers LLC's holdings, making the stock its 11th largest position. CCM Investment Advisers LLC owned 0.13% of Jabil worth $19,390,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in JBL. SBI Securities Co. Ltd. bought a new position in shares of Jabil in the fourth quarter valued at approximately $27,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Jabil in the fourth quarter valued at approximately $29,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Jabil by 110.5% in the first quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock valued at $30,000 after purchasing an additional 116 shares in the last quarter. Millstone Evans Group LLC bought a new stake in Jabil during the fourth quarter worth $37,000. Finally, First Horizon Advisors Inc. lifted its holdings in Jabil by 90.3% during the fourth quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company's stock worth $39,000 after acquiring an additional 130 shares during the period. Institutional investors and hedge funds own 93.39% of the company's stock.

Insider Activity

In other news, CEO Michael Dastoor sold 10,000 shares of Jabil stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 221,693 shares in the company, valued at approximately $37,665,640.70. The trade was a 4.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark T. Mondello sold 20,000 shares of Jabil stock in a transaction on 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 of the company's stock, valued at approximately $227,624,059.52. This trade represents a 1.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,000 shares of company stock worth $7,665,200. 1.73% of the stock is owned by corporate insiders.

Jabil Stock Performance

Shares of JBL traded down $3.31 during mid-day trading on Friday, hitting $175.77. The stock had a trading volume of 1,224,670 shares, compared to its average volume of 1,434,904. The firm has a market cap of $18.87 billion, a P/E ratio of 16.85, a PEG ratio of 1.65 and a beta of 1.14. The business has a fifty day moving average price of $155.54 and a 200-day moving average price of $150.88. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72. Jabil Inc. has a 52 week low of $95.85 and a 52 week high of $180.16.

Jabil (NYSE:JBL - Get Free Report) last issued its earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.11. The firm had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.40 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The business's revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.68 earnings per share. On average, equities research analysts expect that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.18%. The ex-dividend date was Thursday, May 15th. Jabil's dividend payout ratio (DPR) is presently 7.66%.

Analyst Ratings Changes

JBL has been the topic of a number of recent analyst reports. Barclays lifted their price target on Jabil from $184.00 to $206.00 and gave the stock an "overweight" rating in a report on Tuesday, June 10th. The Goldman Sachs Group lifted their price target on Jabil from $165.00 to $188.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. UBS Group lifted their price target on Jabil from $152.00 to $157.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. JPMorgan Chase & Co. dropped their price target on Jabil from $175.00 to $154.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Wall Street Zen upgraded Jabil from a "hold" rating to a "buy" rating in a report on Monday, May 19th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Jabil presently has a consensus rating of "Moderate Buy" and an average target price of $169.17.

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).