M&T Bank Corp Has $2.24 Million Stock Holdings in Jabil, Inc. (NYSE:JBL)

M&T Bank Corp cut its stake in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 8.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,479 shares of the technology company's stock after selling 1,456 shares during the quarter. M&T Bank Corp's holdings in Jabil were worth $2,243,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. ARGA Investment Management LP lifted its position in Jabil by 172.8% in the first quarter. ARGA Investment Management LP now owns 9,492 shares of the technology company's stock worth $1,292,000 after purchasing an additional 6,012 shares during the period. Crossmark Global Holdings Inc. lifted its position in shares of Jabil by 190.2% during the 1st quarter. Crossmark Global Holdings Inc. now owns 15,664 shares of the technology company's stock valued at $2,131,000 after acquiring an additional 10,267 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in Jabil by 25.0% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 2,523 shares of the technology company's stock valued at $343,000 after purchasing an additional 504 shares during the period. Envestnet Asset Management Inc. raised its stake in Jabil by 8.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 242,977 shares of the technology company's stock valued at $33,062,000 after purchasing an additional 18,126 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in 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 purchasing an additional 37,201 shares during the period. 93.39% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Andrew Priestley sold 13,913 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $203.17, for a total transaction of $2,826,704.21. Following the completion of the sale, the executive vice president owned 53,528 shares of the company's stock, valued at approximately $10,875,283.76. This trade represents a 20.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven A. Raymund sold 15,955 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $216.83, for a total transaction of $3,459,522.65. Following the completion of the sale, the director directly owned 99,828 shares of the company's stock, valued at approximately $21,645,705.24. This represents a 13.78% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 297,431 shares of company stock valued at $58,163,159. 1.73% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on JBL. Barclays upped their price target on shares of Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. The Goldman Sachs Group increased their target price on shares of Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Bank of America increased their target price on shares of Jabil from $225.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. JPMorgan Chase & Co. increased their target price on shares of Jabil from $180.00 to $214.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 18th. Finally, Wall Street Zen downgraded shares of Jabil from a "strong-buy" rating to a "buy" rating in a research report on Saturday. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Jabil has a consensus rating of "Buy" and an average price target of $225.71.

Jabil Stock Performance

Shares of NYSE JBL traded down $1.74 during mid-day trading on Tuesday, hitting $218.78. The company had a trading volume of 1,129,280 shares, compared to its average volume of 1,417,078. 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 business's 50-day simple moving average is $185.78 and its 200-day simple moving average is $161.53. Jabil, Inc. has a 12 month low of $95.85 and a 12 month high of $227.54. The firm has a market cap of $23.48 billion, a P/E ratio of 42.48, a PEG ratio of 1.56 and a beta of 1.20.

Jabil (NYSE:JBL - Get Free Report) last released its earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share 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 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% on a year-over-year basis. During the same quarter last year, the company earned $1.89 earnings per share. As a group, analysts predict that Jabil, Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend was Thursday, May 15th. Jabil's dividend payout ratio is 6.21%.

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).