Jabil, Inc. (NYSE:JBL) Holdings Lowered by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its stake in Jabil, Inc. (NYSE:JBL - Free Report) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,642 shares of the technology company's stock after selling 6,913 shares during the period. New York State Teachers Retirement System owned 0.11% of Jabil worth $15,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in JBL. Wellington Management Group LLP raised its holdings 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 last quarter. FMR LLC raised its position in Jabil by 8.1% during the fourth quarter. FMR LLC now owns 5,533,149 shares of the technology company's stock worth $796,220,000 after acquiring an additional 416,841 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Jabil by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company's stock valued at $404,024,000 after acquiring an additional 34,574 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Jabil by 18.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company's stock valued at $270,187,000 after acquiring an additional 288,806 shares during the last quarter. Finally, Norges Bank purchased a new stake in Jabil during the 4th quarter worth about $218,430,000. 93.39% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Jabil

In other Jabil news, Director Steven A. Raymund sold 15,955 shares of the stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Dastoor sold 18,234 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $191.66, for a total transaction of $3,494,728.44. Following the completion of the transaction, the chief executive officer owned 203,459 shares in the company, valued at approximately $38,994,951.94. The trade was a 8.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 316,431 shares of company stock valued at $60,571,609 over the last quarter. Insiders own 1.73% of the company's stock.

Analyst Ratings Changes

JBL has been the subject of a number of analyst reports. Bank of America boosted their price objective on shares of Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, June 20th. UBS Group raised their price target on Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. Wall Street Zen raised shares of Jabil from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 27th. The Goldman Sachs Group increased 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. Finally, Stifel Nicolaus started coverage on shares of Jabil in a report on Wednesday. They issued a "buy" rating and a $245.00 target price for the company. One analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $225.71.

Jabil Stock Up 1.2%

Shares of NYSE:JBL traded up $2.66 during mid-day trading on Friday, hitting $224.55. 1,129,028 shares of the company traded hands, compared to its average volume of 1,417,597. Jabil, Inc. has a 52-week low of $95.85 and a 52-week high of $227.54. The firm has a market cap of $24.10 billion, a P/E ratio of 43.60, a PEG ratio of 1.58 and a beta of 1.20. 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 firm's 50 day simple moving average is $178.31 and its 200 day simple moving average is $158.76.

Jabil (NYSE:JBL - Get Free Report) last issued its earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.28 by $0.27. The business had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.03 billion. Jabil had a net margin of 2.02% and a return on equity of 60.19%. The company's revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.89 EPS. On average, equities analysts anticipate that Jabil, Inc. will post 8.05 EPS for the current year.

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Thursday, May 15th. Jabil's dividend payout ratio is presently 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).