Livforsakringsbolaget Skandia Omsesidigt Cuts Stock Holdings in Jabil, Inc. $JBL

Key Points

• Livforsakringsbolaget Skandia Omsesidigt has cut its stake in Jabil, Inc. by 30.9%, now owning 39,100 shares valued at approximately $8.53 million.
• Notable institutional investors, including Wellington Management and JPMorgan Chase, have increased their positions in Jabil, indicating ongoing confidence in the company.
• Jabil recently reported a quarterly EPS of $2.55, surpassing estimates, with revenues rising 15.7% year-over-year to $7.83 billion.

Livforsakringsbolaget Skandia Omsesidigt reduced its stake in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 30.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,100 shares of the technology company's stock after selling 17,448 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Jabil were worth $8,528,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in JBL. Wellington Management Group LLP increased its position in shares of Jabil by 12.9% during the first quarter. Wellington Management Group LLP now owns 6,556,153 shares of the technology company's stock worth $892,096,000 after acquiring an additional 747,423 shares during the period. JPMorgan Chase & Co. lifted its position in Jabil by 15.7% in the first quarter. JPMorgan Chase & Co. now owns 2,173,095 shares of the technology company's stock valued at $295,693,000 after purchasing an additional 295,496 shares during the period. Northern Trust Corp lifted its position in Jabil by 8.3% in the first quarter. Northern Trust Corp now owns 1,384,364 shares of the technology company's stock valued at $188,370,000 after purchasing an additional 105,632 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of Jabil by 119.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,215,678 shares of the technology company's stock valued at $165,417,000 after acquiring an additional 662,938 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Jabil by 3.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,118,282 shares of the technology company's stock valued at $152,165,000 after acquiring an additional 37,201 shares during the period. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Jabil news, EVP Frederic E. Mccoy sold 4,500 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $223.55, for a total value of $1,005,975.00. Following the completion of the sale, the executive vice president owned 124,203 shares in the company, valued at $27,765,580.65. This represents a 3.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven A. Raymund sold 13,432 shares of the stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. Insiders have sold 164,613 shares of company stock worth $34,706,019 in the last quarter. Corporate insiders own 1.73% of the company's stock.

Jabil Stock Up 0.9%

Shares of NYSE:JBL opened at $215.97 on Tuesday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.64 and a current ratio of 0.98. The company has a market cap of $23.18 billion, a PE ratio of 41.94, a price-to-earnings-growth ratio of 1.25 and a beta of 1.25. Jabil, Inc. has a 52 week low of $103.82 and a 52 week high of $232.84. The firm has a 50 day simple moving average of $216.50 and a 200 day simple moving average of $179.58.

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, beating the consensus estimate 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 firm's quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.89 EPS. As a group, research analysts expect that Jabil, Inc. will post 8.05 earnings per share for the current year.

Jabil Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Zacks Research downgraded Jabil from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. The Goldman Sachs Group boosted their price objective on shares of Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. Wall Street Zen cut shares of Jabil from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. JPMorgan Chase & Co. lifted their price target on Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Finally, Argus upgraded Jabil from a "hold" rating to a "buy" rating in a research note on Wednesday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $231.71.

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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