Jabil, Inc. $JBL Shares Sold by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Key Points

• Empirical Financial Services LLC reduced its stake in Jabil, Inc. by 28.1%, holding 7,841 shares worth approximately $1.71 million after selling 3,058 shares.
• A number of institutional investors increased their positions in Jabil during the first quarter, with 93.39% of the stock currently owned by these investors and hedge funds.
• Bank of America and Barclays boosted their price targets for Jabil shares, while Zacks downgraded the stock, resulting in an average rating of "Moderate Buy" and a target price of $248.43.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management trimmed its position in Jabil, Inc. (NYSE:JBL - Free Report) by 28.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,841 shares of the technology company's stock after selling 3,058 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Jabil were worth $1,710,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV purchased a new position in Jabil in the 1st quarter worth approximately $27,000. Harbor Capital Advisors Inc. raised its position in shares of Jabil by 110.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock valued at $30,000 after buying an additional 116 shares during the period. Groupe la Francaise raised its position in shares of Jabil by 35.2% during the 1st quarter. Groupe la Francaise now owns 246 shares of the technology company's stock valued at $34,000 after buying an additional 64 shares during the period. Golden State Wealth Management LLC increased its holdings 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. Finally, Wayfinding Financial LLC acquired a new position in shares of Jabil in the first quarter worth $52,000. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Jabil

In other Jabil news, EVP Andrew Priestley sold 3,782 shares of the company's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $225.00, for a total value of $850,950.00. Following the transaction, the executive vice president owned 48,535 shares in the company, valued at approximately $10,920,375. This represents a 7.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven A. Raymund sold 13,432 shares of the company's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $223.11, for a total transaction of $2,996,813.52. Following the completion of the transaction, the director owned 86,396 shares in the company, valued at approximately $19,275,811.56. This represents a 13.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,416 shares of company stock worth $18,367,889 in the last 90 days. 1.73% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on JBL shares. Bank of America boosted their price target on shares of Jabil from $245.00 to $255.00 and gave the company a "buy" rating in a research report on Friday, September 26th. Wall Street Zen raised shares of Jabil from a "buy" rating to a "strong-buy" rating in a research note on Friday. Barclays lifted their price target on shares of Jabil from $223.00 to $267.00 and gave the company an "overweight" rating in a report on Friday, September 26th. Zacks Research downgraded shares of Jabil from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Finally, Stifel Nicolaus assumed coverage on shares of Jabil in a report on Wednesday, July 2nd. They set a "buy" rating and a $245.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $248.43.

Jabil Stock Down 6.2%

NYSE JBL opened at $202.22 on Friday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.00 and a quick ratio of 0.66. The company's 50 day simple moving average is $215.60 and its 200 day simple moving average is $187.15. Jabil, Inc. has a 12 month low of $108.66 and a 12 month high of $237.14. The company has a market capitalization of $21.70 billion, a P/E ratio of 33.93, a PEG ratio of 1.43 and a beta of 1.26.

Jabil Dividend Announcement

The company also recently declared 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. The ex-dividend date was Friday, August 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.2%. Jabil's payout ratio is currently 5.37%.

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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