Meeder Asset Management Inc. Sells 8,663 Shares of Jabil, Inc. (NYSE:JBL)

Meeder Asset Management Inc. trimmed its position in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 73.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,196 shares of the technology company's stock after selling 8,663 shares during the period. Meeder Asset Management Inc.'s holdings in Jabil were worth $435,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in shares of 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 buying an additional 5,800,535 shares during the period. Point72 Asset Management L.P. lifted its stake in shares of Jabil by 1,007.6% in the fourth quarter. Point72 Asset Management L.P. now owns 965,629 shares of the technology company's stock valued at $138,954,000 after buying an additional 878,444 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of Jabil by 16,190.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 552,740 shares of the technology company's stock valued at $79,539,000 after buying an additional 549,347 shares during the period. GAMMA Investing LLC lifted its stake in shares of Jabil by 17,410.3% in the first quarter. GAMMA Investing LLC now owns 524,958 shares of the technology company's stock valued at $71,431,000 after buying an additional 521,960 shares during the period. Finally, 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 worth $796,220,000 after purchasing an additional 416,841 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors.

Jabil Trading Down 2.0%

Shares of NYSE JBL traded down $4.55 during midday trading on Friday, reaching $218.62. 1,370,849 shares of the stock were exchanged, compared to its average volume of 1,423,938. The business has a 50-day simple moving average of $203.08 and a two-hundred day simple moving average of $168.48. The company has a market capitalization of $23.46 billion, a price-to-earnings ratio of 42.45, a P/E/G ratio of 1.58 and a beta of 1.20. Jabil, Inc. has a 12 month low of $95.85 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.

Jabil (NYSE:JBL - Get Free Report) last posted its quarterly earnings data on Tuesday, June 17th. The technology company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.28 by $0.27. The business had revenue of $7.83 billion for the quarter, compared to analysts' expectations of $7.03 billion. Jabil had a net margin of 2.02% and a return on equity of 60.19%. The firm's 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 EPS. As a group, equities research analysts expect that Jabil, Inc. will post 8.05 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on JBL. Stifel Nicolaus began coverage on Jabil in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $245.00 price objective on the stock. Raymond James Financial reiterated a "strong-buy" rating and issued a $230.00 price objective (up from $170.00) on shares of Jabil in a research note on Wednesday, June 18th. Bank of America upped their price objective on 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. raised their price objective on shares of Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Finally, 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 report on Wednesday, June 18th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $231.71.

Insider Transactions at Jabil

In other Jabil news, Director Anousheh Ansari sold 1,000 shares of Jabil stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $222.75, for a total value of $222,750.00. Following the sale, the director directly owned 36,400 shares in the company, valued at approximately $8,108,100. The trade was a 2.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark T. Mondello sold 20,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $216.59, for a total transaction of $4,331,800.00. Following the transaction, the chairman owned 1,440,190 shares in the company, valued at $311,930,752.10. This represents a 1.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 322,847 shares of company stock worth $63,849,847. 1.73% of the stock is owned by insiders.

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).