Jabil Inc. (NYSE:JBL) Shares Sold by Royal Bank of Canada

Royal Bank of Canada cut its holdings in Jabil Inc. (NYSE:JBL - Free Report) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 163,738 shares of the technology company's stock after selling 11,608 shares during the period. Royal Bank of Canada owned 0.15% of Jabil worth $23,562,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in JBL. Bleakley Financial Group LLC raised its holdings in Jabil by 2.2% in the 4th quarter. Bleakley Financial Group LLC now owns 3,273 shares of the technology company's stock valued at $471,000 after buying an additional 70 shares during the period. Greenleaf Trust boosted its position in shares of Jabil by 1.3% during the 4th quarter. Greenleaf Trust now owns 5,671 shares of the technology company's stock worth $816,000 after purchasing an additional 72 shares during the period. Resonant Capital Advisors LLC boosted its position in shares of Jabil by 3.3% during the fourth quarter. Resonant Capital Advisors LLC now owns 2,539 shares of the technology company's stock worth $365,000 after buying an additional 80 shares during the period. Savant Capital LLC grew its position in shares of Jabil by 1.9% during the fourth quarter. Savant Capital LLC now owns 5,332 shares of the technology company's stock worth $767,000 after buying an additional 99 shares in the last quarter. Finally, Utah Retirement Systems grew its holdings in Jabil by 0.5% during the 4th 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. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on JBL. Barclays lifted their price objective on shares of Jabil from $179.00 to $184.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Wall Street Zen upgraded shares of Jabil from a "hold" rating to a "buy" rating in a research note on Monday, May 19th. UBS Group raised their price target on Jabil from $152.00 to $157.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. The Goldman Sachs Group decreased their price objective on Jabil from $175.00 to $146.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. dropped their target price on Jabil from $175.00 to $154.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $158.50.

Insider Buying and Selling

In other Jabil news, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $131.56, for a total transaction of $2,631,200.00. Following the transaction, the chairman now owns 1,730,192 shares of the company's stock, valued at $227,624,059.52. This trade represents a 1.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael Dastoor sold 10,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $169.90, for a total value of $1,699,000.00. Following the transaction, the chief executive officer now owns 221,693 shares in the company, valued at $37,665,640.70. This trade represents a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.73% of the company's stock.

Jabil Price Performance

Shares of NYSE:JBL traded down $1.36 on Friday, reaching $167.19. 176,129 shares of the company were exchanged, compared to its average volume of 1,419,063. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $174.80. The company has a 50-day moving average of $146.36 and a 200-day moving average of $147.41. The firm has a market cap of $17.95 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 1.65 and a beta of 1.11.

Jabil (NYSE:JBL - Get Free Report) last issued its earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same period in the prior year, the business posted $1.68 earnings per share. The firm's revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts forecast that Jabil Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date is Thursday, May 15th. Jabil's payout ratio is currently 7.66%.

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).