Jabil, Inc. (NYSE:JBL) Shares Sold by Boston Partners

Key Points

• Boston Partners has reduced its stake in Jabil, Inc. by 1.0%, holding approximately 0.55% of the company valued at $79.6 million after selling nearly 6,000 shares.
• Insider selling was reported as Chairman Mark T. Mondello and Director Steven A. Raymund sold a total of over $7 million in company stock recently.
• Jabil’s quarterly earnings exceeded expectations, with an EPS of $2.55 compared to the forecast of $2.28, and revenue of $7.83 billion surpassing estimates of $7.03 billion.

Boston Partners decreased its stake in Jabil, Inc. (NYSE:JBL - Free Report) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 585,343 shares of the technology company's stock after selling 5,965 shares during the period. Boston Partners owned approximately 0.55% of Jabil worth $79,637,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV acquired a new stake in shares of Jabil in the first quarter valued at about $27,000. Harbor Capital Advisors Inc. lifted its stake in shares of Jabil by 110.5% in the first 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 period. Golden State Wealth Management LLC lifted its stake in shares of 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 purchasing an additional 264 shares during the period. True Wealth Design LLC lifted its stake in shares of Jabil by 3,411.1% in the fourth quarter. True Wealth Design LLC now owns 316 shares of the technology company's stock valued at $45,000 after purchasing an additional 307 shares during the period. Finally, Wayfinding Financial LLC acquired a new stake in shares of Jabil in the first quarter valued at about $52,000. Institutional investors and hedge funds own 93.39% of the company's stock.

Insider Buying and Selling at Jabil

In related news, Chairman Mark T. Mondello sold 20,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $219.20, for a total value of $4,384,000.00. Following the completion of the sale, the chairman directly owned 1,420,190 shares in the company, valued at approximately $311,305,648. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven A. Raymund sold 13,432 shares of the business'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 sale, the director owned 86,396 shares of the company's stock, valued at approximately $19,275,811.56. The trade was a 13.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 332,847 shares of company stock valued at $66,534,847. Corporate insiders own 1.73% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on JBL. Bank of America raised their price objective on shares of Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, June 20th. JPMorgan Chase & Co. lifted their target price on shares of Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Barclays lifted their target price on shares of Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 17th. UBS Group lifted their target price on shares of Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th. Finally, Wall Street Zen cut shares of Jabil from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. One investment 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 stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $231.71.

Jabil Stock Performance

Shares of NYSE JBL opened at $217.20 on Friday. The company has a market cap of $23.31 billion, a PE ratio of 42.17, a price-to-earnings-growth ratio of 1.53 and a beta of 1.20. Jabil, Inc. has a 12 month low of $99.67 and a 12 month high of $232.84. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.98 and a quick ratio of 0.64. The company has a 50-day simple moving average of $213.59 and a 200-day simple moving average of $172.43.

Jabil (NYSE:JBL - Get Free Report) last issued 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 net margin of 2.02% and a return on equity of 60.19%. The company's quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.89 earnings per share. On average, equities analysts anticipate that Jabil, Inc. will post 8.05 earnings per share for the current year.

Jabil Dividend Announcement

The company also recently declared a dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Monday, August 18th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, August 15th. This represents a dividend yield of 14.0%. Jabil's 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).

Want to see what other hedge funds are holding JBL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jabil, Inc. (NYSE:JBL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.