Greenleaf Trust Cuts Stake in Jabil, Inc. (NYSE:JBL)

Greenleaf Trust cut its stake in Jabil, Inc. (NYSE:JBL - Free Report) by 25.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,201 shares of the technology company's stock after selling 1,470 shares during the quarter. Greenleaf Trust's holdings in Jabil were worth $572,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in Jabil by 70,781.4% in the fourth quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company's stock valued at $835,876,000 after purchasing an additional 5,800,535 shares during the period. FMR LLC raised 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 valued at $796,220,000 after purchasing an additional 416,841 shares during the period. Geode Capital Management LLC raised 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 valued at $404,024,000 after purchasing an additional 34,574 shares during the period. JPMorgan Chase & Co. raised its position in Jabil by 18.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company's stock valued at $270,187,000 after purchasing an additional 288,806 shares during the period. Finally, Norges Bank purchased a new position in Jabil in the fourth quarter valued at about $218,430,000. 93.39% of the stock is owned by hedge funds and other institutional investors.

Jabil Stock Up 0.4%

NYSE:JBL opened at $221.92 on Friday. The company has a market capitalization of $23.82 billion, a price-to-earnings ratio of 43.09, a price-to-earnings-growth ratio of 1.55 and a beta of 1.20. Jabil, Inc. has a one year low of $95.85 and a one year high of $227.54. The stock has a 50-day simple moving average of $185.78 and a 200 day simple moving average of $161.34. 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 (NYSE:JBL - Get Free Report) last posted its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 EPS for the quarter, topping analysts' consensus estimates of $2.28 by $0.27. The business had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.03 billion. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The company's revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period last year, the firm earned $1.89 earnings per share. Sell-side analysts predict 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 paid a $0.08 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.14%. Jabil's payout ratio is currently 6.21%.

Insider Buying and Selling

In other Jabil news, CEO Michael Dastoor sold 18,234 shares of Jabil stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $191.66, for a total value of $3,494,728.44. Following the completion of the transaction, the chief executive officer directly owned 203,459 shares in the company, valued at $38,994,951.94. The trade was a 8.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Steven D. Borges sold 22,443 shares of Jabil stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $200.01, for a total value of $4,488,824.43. Following the completion of the transaction, the executive vice president owned 102,803 shares of the company's stock, valued at approximately $20,561,628.03. The trade was a 17.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 297,431 shares of company stock valued at $58,163,159 over the last 90 days. 1.73% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on JBL shares. UBS Group lifted their target price on Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $230.00 target price (up from $170.00) on shares of Jabil in a research report on Wednesday, June 18th. Argus raised Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday, June 18th. Barclays lifted their target price on Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 17th. Finally, Bank of America lifted their target price on Jabil from $225.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company 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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