Sumitomo Mitsui Trust Group Inc. Sells 3,311 Shares of Jabil, Inc. (NYSE:JBL)

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 1.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 253,130 shares of the technology company's stock after selling 3,311 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of Jabil worth $34,443,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of JBL. MassMutual Private Wealth & Trust FSB raised its stake in shares of Jabil by 21.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 565 shares of the technology company's stock worth $77,000 after purchasing an additional 99 shares during the last quarter. Utah Retirement Systems increased its holdings in Jabil by 0.5% in the 4th quarter. Utah Retirement Systems now owns 18,382 shares of the technology company's stock worth $2,645,000 after buying an additional 100 shares in the last quarter. Atlas Capital Advisors Inc. raised its position in Jabil by 1.0% in the 4th quarter. Atlas Capital Advisors Inc. now owns 10,463 shares of the technology company's stock worth $1,506,000 after buying an additional 105 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in Jabil by 110.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock valued at $30,000 after acquiring an additional 116 shares during the period. Finally, Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Jabil by 0.9% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 14,075 shares of the technology company's stock valued at $2,054,000 after acquiring an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 93.39% of the company's stock.

Insider Activity

In other Jabil news, Chairman Mark T. Mondello sold 20,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $216.59, for a total value of $4,331,800.00. Following the transaction, the chairman directly owned 1,440,190 shares in the company, valued at $311,930,752.10. This represents a 1.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Francis Mckay sold 3,395 shares of Jabil 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 sale, the senior vice president directly owned 38,112 shares of the company's stock, valued at $7,831,253.76. This represents a 8.18% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 316,431 shares of company stock valued at $60,571,609. Insiders own 1.73% of the company's stock.

Analyst Ratings Changes

JBL has been the topic of a number of research analyst reports. Argus upgraded shares of Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday, June 18th. UBS Group increased their price target on Jabil from $157.00 to $208.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. The Goldman Sachs Group lifted their price objective on Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. Wall Street Zen raised Jabil from a "buy" rating to a "strong-buy" rating in a report on Friday, June 27th. Finally, JPMorgan Chase & Co. boosted their price target on Jabil from $180.00 to $214.00 and gave the company an "overweight" rating in a research note on Wednesday, June 18th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Jabil currently has a consensus rating of "Buy" and a consensus target price of $225.71.

Jabil Trading Up 1.2%

Jabil stock traded up $2.66 during midday trading on Friday, reaching $224.55. The stock had a trading volume of 1,129,028 shares, compared to its average volume of 1,418,656. The company has a quick ratio of 0.64, a current ratio of 0.98 and a debt-to-equity ratio of 1.85. The firm has a market cap of $24.10 billion, a price-to-earnings ratio of 43.60, a price-to-earnings-growth ratio of 1.58 and a beta of 1.20. Jabil, Inc. has a 52-week low of $95.85 and a 52-week high of $227.54. The company has a fifty day moving average of $178.31 and a 200 day moving average of $158.66.

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

Jabil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.14%. Jabil's dividend payout ratio (DPR) is 6.21%.

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).