Royal Bank of Canada Sells 11,608 Shares of Jabil Inc. (NYSE:JBL)

Royal Bank of Canada reduced its stake in Jabil Inc. (NYSE:JBL - Free Report) by 6.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in JBL. SBI Securities Co. Ltd. bought a new stake in shares of Jabil in the 4th quarter worth approximately $27,000. Murphy & Mullick Capital Management Corp acquired a new position in Jabil in the 4th quarter valued at approximately $29,000. Millstone Evans Group LLC acquired a new position in Jabil in the 4th quarter valued at approximately $37,000. First Horizon Advisors Inc. increased its stake in Jabil by 90.3% in the 4th quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company's stock valued at $39,000 after buying an additional 130 shares during the period. Finally, GHP Investment Advisors Inc. acquired a new position in Jabil in the 4th quarter valued at approximately $43,000. 93.39% of the stock is currently owned by institutional investors.

Jabil Trading Down 0.9%

Jabil stock traded down $1.54 during midday trading on Wednesday, hitting $167.63. 801,768 shares of the stock were exchanged, compared to its average volume of 1,422,171. The company has a fifty day simple moving average of $145.54 and a two-hundred day simple moving average of $147.04. Jabil Inc. has a 52 week low of $95.85 and a 52 week high of $174.80. The stock has a market capitalization of $17.99 billion, a PE ratio of 16.07, a P/E/G ratio of 1.65 and a beta of 1.11. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

Jabil (NYSE:JBL - Get Free Report) last announced its earnings results on Thursday, March 20th. The technology company reported $1.94 EPS 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 firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same period last year, the company posted $1.68 EPS. The business's quarterly revenue was down .6% on a year-over-year basis. Equities research analysts anticipate that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Thursday, May 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.19%. Jabil's dividend payout ratio is presently 7.66%.

Insider Activity at Jabil

In other Jabil news, Chairman Mark T. Mondello sold 20,000 shares of Jabil stock in a transaction on Friday, April 11th. The shares were sold at an average price of $131.56, for a total transaction of $2,631,200.00. Following the completion of the transaction, the chairman now directly owns 1,730,192 shares of the company's stock, valued at $227,624,059.52. The trade was a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Dastoor sold 10,000 shares of Jabil stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $169.90, for a total transaction of $1,699,000.00. Following the transaction, the chief executive officer now directly owns 221,693 shares of the company's stock, valued at approximately $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. 1.73% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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).