Corebridge Financial Inc. Sells 1,562 Shares of Jabil, Inc. $JBL

Key Points

• Corebridge Financial Inc. reduced its stake in Jabil, Inc. by 5.8%, selling 1,562 shares, leaving them with a total of 25,245 shares valued at approximately $3.44 million.
• In recent insider transactions, EVP Andrew Priestley and Director Steven A. Raymund sold significant amounts of Jabil stock, decreasing their ownership by 7.63% and 13.46%, respectively.
• Jabil announced a quarterly dividend of $0.08 per share, with a record date of August 15th, representing an annualized yield of 0.2% and a payout ratio of 6.21%.

Corebridge Financial Inc. trimmed its holdings in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 5.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 25,245 shares of the technology company's stock after selling 1,562 shares during the period. Corebridge Financial Inc.'s holdings in Jabil were worth $3,435,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV bought a new position in Jabil in the 1st quarter worth approximately $27,000. Harbor Capital Advisors Inc. boosted its stake in Jabil by 110.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock worth $30,000 after acquiring an additional 116 shares during the last quarter. Groupe la Francaise boosted its stake in Jabil by 35.2% during the 1st quarter. Groupe la Francaise now owns 246 shares of the technology company's stock worth $34,000 after acquiring an additional 64 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in Jabil by 2,400.0% in the first quarter. Golden State Wealth Management LLC now owns 275 shares of the technology company's stock valued at $37,000 after buying an additional 264 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new position in Jabil in the first quarter valued at approximately $52,000. 93.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

JBL has been the topic of a number of research reports. Stifel Nicolaus started coverage on shares of Jabil in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $245.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on shares of Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Bank of America upped their price objective on shares of Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a report on Friday, June 20th. UBS Group upped their price objective on shares of Jabil from $157.00 to $208.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $230.00 target price (up previously from $170.00) on shares of Jabil in a research report on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Jabil presently has an average rating of "Moderate Buy" and a consensus price target of $231.71.

Jabil Price Performance

Shares of JBL stock traded up $0.92 on Wednesday, reaching $203.00. The company had a trading volume of 1,067,903 shares, compared to its average volume of 1,418,565. The stock has a market capitalization of $21.79 billion, a PE ratio of 39.42, a price-to-earnings-growth ratio of 1.19 and a beta of 1.25. The company has a quick ratio of 0.64, a current ratio of 0.98 and a debt-to-equity ratio of 1.85. Jabil, Inc. has a one year low of $99.67 and a one year high of $232.84. The business's 50-day moving average is $218.07 and its 200 day moving average is $176.40.

Jabil (NYSE:JBL - Get Free Report) last released its quarterly earnings data on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, beating 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 company had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.03 billion. During the same quarter in the prior year, the firm posted $1.89 earnings per share. The firm's revenue was up 15.7% compared to the same quarter last year. Jabil has set its FY 2025 guidance at 9.330-9.330 EPS. Q4 2025 guidance at 2.640-3.040 EPS. Equities research analysts forecast that Jabil, Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. Jabil's dividend payout ratio is currently 6.21%.

Insider Buying and Selling

In other Jabil news, CEO Michael Dastoor sold 18,234 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $191.66, for a total transaction of $3,494,728.44. Following the completion of the sale, the chief executive officer owned 203,459 shares of the company's stock, valued at approximately $38,994,951.94. This represents a 8.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Andrew Priestley sold 13,913 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $203.17, for a total transaction of $2,826,704.21. Following the sale, the executive vice president directly owned 53,528 shares of the company's stock, valued at $10,875,283.76. This represents a 20.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 312,847 shares of company stock valued at $63,199,847 over the last three months. Insiders own 1.73% of the company's stock.

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).