Jabil, Inc. (NYSE:JBL) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 1.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 253,130 shares of the technology company's stock after selling 3,311 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.24% of Jabil worth $34,443,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in Jabil during the 4th quarter worth approximately $27,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Jabil in the first quarter worth $27,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Jabil in the fourth quarter worth $29,000. Harbor Capital Advisors Inc. raised its holdings in shares of Jabil by 110.5% during the first quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock worth $30,000 after purchasing an additional 116 shares during the last quarter. Finally, Millstone Evans Group LLC purchased a new position in shares of Jabil during the fourth quarter worth $37,000. 93.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on JBL shares. Argus raised Jabil from a "hold" rating to a "buy" rating in a report on Wednesday, June 18th. Bank of America boosted their price objective on Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a report on Friday, June 20th. JPMorgan Chase & Co. boosted their price objective on Jabil from $180.00 to $214.00 and gave the company an "overweight" rating in a report on Wednesday, June 18th. The Goldman Sachs Group boosted their price objective on Jabil from $188.00 to $215.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Finally, Stifel Nicolaus started coverage on Jabil in a report on Wednesday. They issued a "buy" rating and a $245.00 price objective for the company. One analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $225.71.

Jabil Price Performance

Jabil stock traded up $2.66 during midday trading on Friday, reaching $224.55. The company had a trading volume of 1,129,028 shares, compared to its average volume of 1,417,597. The company has a market capitalization of $24.10 billion, a P/E ratio of 43.60, a P/E/G ratio of 1.58 and a beta of 1.20. Jabil, Inc. has a 12-month low of $95.85 and a 12-month high of $227.54. The firm's fifty day simple moving average is $178.31 and its 200-day simple moving average is $158.76. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.98 and a quick ratio of 0.64.

Jabil (NYSE:JBL - Get Free Report) last released its quarterly earnings data on Tuesday, June 17th. The technology company reported $2.55 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 the consensus estimate of $7.03 billion. Jabil had a net margin of 2.02% and a return on equity of 60.19%. Jabil's quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.89 EPS. As a group, equities analysts anticipate that Jabil, Inc. will post 8.05 EPS for the current year.

Jabil Announces Dividend

The firm 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 of this dividend was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.14%. Jabil's payout ratio is 6.21%.

Insider Buying and Selling

In other news, SVP Francis Mckay sold 3,395 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $205.48, for a total transaction of $697,604.60. Following the completion of the sale, the senior vice president owned 38,112 shares in the company, valued at $7,831,253.76. This trade represents a 8.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP May Yee Yap sold 6,787 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $206.00, for a total transaction of $1,398,122.00. Following the sale, the senior vice president owned 25,582 shares of the company's stock, valued at $5,269,892. This represents a 20.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 316,431 shares of company stock worth $60,571,609 in the last 90 days. Corporate insiders own 1.73% of the company's stock.

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).