New York State Teachers Retirement System Sells 6,913 Shares of Jabil, Inc. (NYSE:JBL)

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

Several other institutional investors also recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB increased its stake in Jabil by 21.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 565 shares of the technology company's stock valued at $77,000 after purchasing an additional 99 shares in the last quarter. Utah Retirement Systems increased its holdings in shares of Jabil by 0.5% in the fourth quarter. Utah Retirement Systems now owns 18,382 shares of the technology company's stock worth $2,645,000 after acquiring an additional 100 shares in the last quarter. Atlas Capital Advisors Inc. grew its position in shares of Jabil by 1.0% in the 4th quarter. Atlas Capital Advisors Inc. now owns 10,463 shares of the technology company's stock valued at $1,506,000 after purchasing an additional 105 shares during the period. Harbor Capital Advisors Inc. boosted its holdings 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 buying an additional 116 shares during the period. Finally, Nissay Asset Management Corp Japan ADV increased its position in shares of Jabil by 0.9% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 14,075 shares of the technology company's stock worth $2,054,000 after acquiring an additional 119 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on JBL shares. Wall Street Zen upgraded Jabil from a "buy" rating to a "strong-buy" rating in a report on Friday, June 27th. The Goldman Sachs Group lifted their target price on Jabil from $188.00 to $215.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Barclays raised their target price on shares of Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a research report on Tuesday, June 17th. Bank of America boosted their price target 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. Finally, UBS Group increased their price objective on shares of Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $225.71.

Jabil Stock Performance

NYSE:JBL traded up $2.66 during mid-day trading on Thursday, hitting $224.55. The stock had a trading volume of 1,129,028 shares, compared to its average volume of 1,417,201. The company's 50 day simple moving average is $175.18 and its 200 day simple moving average is $157.42. The stock has a market cap of $24.10 billion, a price-to-earnings ratio of 43.60, a PEG ratio of 1.51 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. Jabil, Inc. has a twelve month low of $95.85 and a twelve month high of $227.50.

Jabil (NYSE:JBL - Get Free Report) last released its quarterly earnings data 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 company had revenue of $7.83 billion during the quarter, compared to analysts' expectations of $7.03 billion. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The business's revenue was up 15.7% on a year-over-year basis. During the same period last year, the firm posted $1.89 earnings per share. On average, equities research analysts forecast that Jabil, Inc. will post 8.05 earnings per share for the current year.

Jabil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th were issued a $0.08 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.14%. Jabil's dividend payout ratio is currently 6.21%.

Insider Buying and Selling

In other news, CEO Michael Dastoor sold 18,234 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $191.66, for a total transaction of $3,494,728.44. Following the completion of the sale, the chief executive officer owned 203,459 shares in the company, valued at approximately $38,994,951.94. This trade represents a 8.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Mark T. Mondello sold 150,000 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $193.33, for a total transaction of $28,999,500.00. Following the completion of the transaction, the chairman owned 1,560,192 shares in the company, valued at approximately $301,631,919.36. This trade represents a 8.77% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 316,431 shares of company stock valued at $60,571,609. 1.73% of the stock is currently owned by insiders.

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).