Jabil, Inc. $JBL Shares Sold by Eastover Investment Advisors LLC

Key Points

• Eastover Investment Advisors LLC has reduced its stake in Jabil, Inc. by 10.6%, now holding 61,746 shares, which represent 6.0% of its investment portfolio.
• Several analysts have adjusted their ratings and price targets for Jabil, with Barclays increasing their target to $267.00 and assigning an "overweight" rating.
• Jabil recently declared a quarterly dividend of $0.08 per share, resulting in an annualized dividend yield of 0.1%.

Eastover Investment Advisors LLC decreased its stake in Jabil, Inc. (NYSE:JBL - Free Report) by 10.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,746 shares of the technology company's stock after selling 7,340 shares during the period. Jabil accounts for 6.0% of Eastover Investment Advisors LLC's investment portfolio, making the stock its 2nd largest holding. Eastover Investment Advisors LLC owned about 0.06% of Jabil worth $13,467,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Creative Financial Designs Inc. ADV purchased a new stake in Jabil in the 1st quarter valued at $27,000. Harbor Capital Advisors Inc. raised its position in Jabil by 110.5% in the 1st 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 during the last quarter. Groupe la Francaise raised its position in Jabil by 35.2% in the 1st quarter. Groupe la Francaise now owns 246 shares of the technology company's stock valued at $34,000 after purchasing an additional 64 shares during the last quarter. Financial Management Professionals Inc. raised its position in Jabil by 58.1% in the 2nd quarter. Financial Management Professionals Inc. now owns 264 shares of the technology company's stock valued at $58,000 after purchasing an additional 97 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its position in Jabil by 2,400.0% in the 1st quarter. Golden State Wealth Management LLC now owns 275 shares of the technology company's stock valued at $37,000 after purchasing an additional 264 shares during the last quarter. Institutional investors and hedge funds own 93.39% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on JBL shares. Wall Street Zen downgraded shares of Jabil from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. UBS Group boosted their price objective on shares of Jabil from $157.00 to $208.00 and gave the company a "neutral" rating in a research note on Wednesday, June 18th. Argus raised shares of Jabil from a "hold" rating to a "buy" rating in a research note on Wednesday, June 18th. Barclays boosted their price objective on shares of Jabil from $223.00 to $267.00 and gave the company an "overweight" rating in a research note on Friday. Finally, Stifel Nicolaus initiated coverage on shares of Jabil in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $245.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $243.71.

Insider Buying and Selling at Jabil

In other news, EVP Andrew Priestley sold 3,782 shares of the company's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $225.00, for a total transaction of $850,950.00. Following the transaction, the executive vice president directly owned 48,535 shares of the company's stock, valued at $10,920,375. This represents a 7.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven A. Raymund sold 13,432 shares of the company's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $223.11, for a total transaction of $2,996,813.52. Following the transaction, the director directly owned 86,396 shares in the company, valued at approximately $19,275,811.56. This trade represents a 13.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,416 shares of company stock worth $18,625,639. Company insiders own 1.73% of the company's stock.

Jabil Stock Performance

NYSE:JBL opened at $216.19 on Friday. The company has a quick ratio of 0.64, a current ratio of 1.00 and a debt-to-equity ratio of 1.57. Jabil, Inc. has a fifty-two week low of $108.66 and a fifty-two week high of $237.14. The stock has a market cap of $23.20 billion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 1.24 and a beta of 1.25. The firm's fifty day simple moving average is $216.57 and its 200-day simple moving average is $184.13.

Jabil Announces Dividend

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

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).

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