Jabil, Inc. $JBL Shares Sold by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS reduced its stake in Jabil, Inc. by 1.8% during the second quarter, now holding 76,900 shares valued at approximately $16.77 million.
• Insider sales included EVP Andrew Priestley selling 3,782 shares for about $850,950, representing a 7.23% decrease in his holdings.
• Wall Street analysts have set a consensus target price of $248.43 for Jabil, with UBS Group recently setting a price target of $241.00 and Bank of America raising theirs to $255.00.

KLP Kapitalforvaltning AS cut its stake in Jabil, Inc. (NYSE:JBL - Free Report) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,900 shares of the technology company's stock after selling 1,400 shares during the period. KLP Kapitalforvaltning AS owned 0.07% of Jabil worth $16,772,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in JBL. Merit Financial Group LLC increased its position in Jabil by 94.2% in the first quarter. Merit Financial Group LLC now owns 3,171 shares of the technology company's stock worth $431,000 after buying an additional 1,538 shares during the period. Farther Finance Advisors LLC increased its position in Jabil by 26.0% in the first quarter. Farther Finance Advisors LLC now owns 2,481 shares of the technology company's stock worth $338,000 after buying an additional 512 shares during the period. Harbor Capital Advisors Inc. increased its position in Jabil by 110.5% in the first quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock worth $30,000 after buying an additional 116 shares during the period. GAMMA Investing LLC increased its position in Jabil by 28.7% in the first quarter. GAMMA Investing LLC now owns 3,858 shares of the technology company's stock worth $525,000 after buying an additional 860 shares during the period. Finally, SG Americas Securities LLC increased its position in Jabil by 328.1% in the first quarter. SG Americas Securities LLC now owns 7,937 shares of the technology company's stock worth $1,080,000 after buying an additional 6,083 shares during the period. 93.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Andrew Priestley sold 3,782 shares of Jabil stock in a transaction dated Monday, July 21st. The stock was 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 of the company's stock, valued at approximately $10,920,375. This trade represents a 7.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Frederic E. Mccoy sold 4,500 shares of Jabil stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $223.55, for a total value of $1,005,975.00. Following the completion of the transaction, the executive vice president directly owned 124,203 shares in the company, valued at $27,765,580.65. This represents a 3.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 85,416 shares of company stock worth $18,367,889. Company insiders own 1.73% of the company's stock.

Wall Street Analysts Forecast Growth

JBL has been the topic of a number of research analyst reports. UBS Group set a $241.00 price target on Jabil in a report on Sunday, September 28th. Wall Street Zen raised Jabil from a "buy" rating to a "strong-buy" rating in a report on Friday, October 3rd. Bank of America raised their price target on Jabil from $245.00 to $255.00 and gave the company a "buy" rating in a report on Friday, September 26th. Weiss Ratings reissued a "hold (c+)" rating on shares of Jabil in a report on Saturday, September 27th. Finally, Argus raised Jabil from a "hold" rating to a "buy" rating in a report on Wednesday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $248.43.

Jabil Trading Up 1.9%

Shares of JBL stock opened at $206.44 on Thursday. The company has a quick ratio of 0.66, 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 capitalization of $22.16 billion, a P/E ratio of 34.64, a P/E/G ratio of 1.44 and a beta of 1.26. The stock has a 50-day simple moving average of $214.19 and a 200 day simple moving average of $188.09.

Jabil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.2%. Jabil's dividend payout ratio (DPR) is currently 5.37%.

Jabil 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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