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

Sumitomo Mitsui Trust Group Inc. trimmed its stake in Jabil, Inc. (NYSE:JBL - Free Report) by 1.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 253,130 shares of the technology company's stock after selling 3,311 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of Jabil worth $34,443,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in JBL. Wellington Management Group LLP raised its position in Jabil by 70,781.4% in the fourth quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company's stock worth $835,876,000 after purchasing an additional 5,800,535 shares in the last quarter. FMR LLC raised its holdings in shares of Jabil by 8.1% in the 4th quarter. FMR LLC now owns 5,533,149 shares of the technology company's stock worth $796,220,000 after buying an additional 416,841 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Jabil by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company's stock worth $404,024,000 after buying an additional 34,574 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Jabil by 18.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company's stock worth $270,187,000 after buying an additional 288,806 shares during the period. Finally, Norges Bank bought a new stake in Jabil in the fourth quarter valued at $218,430,000. Institutional investors own 93.39% of the company's stock.

Jabil Stock Performance

Jabil stock traded up $2.66 during mid-day trading on Friday, hitting $224.55. 1,129,028 shares of the company's stock traded hands, compared to its average volume of 1,417,597. Jabil, Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $227.54. The stock has a market cap of $24.10 billion, a price-to-earnings ratio of 43.60, a P/E/G ratio of 1.58 and a beta of 1.20. The firm has a 50 day simple moving average of $178.31 and a two-hundred day simple moving average of $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 announced its earnings results on Tuesday, June 17th. The technology company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.28 by $0.27. The business 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 revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.89 EPS. On average, research analysts expect that Jabil, Inc. will post 8.05 EPS 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 $0.08 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.14%. Jabil's payout ratio is presently 6.21%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Raymond James Financial restated a "strong-buy" rating and issued a $230.00 target price (up previously from $170.00) on shares of Jabil in a research note on Wednesday, June 18th. Stifel Nicolaus initiated coverage on shares of Jabil in a research report on Wednesday. They set a "buy" rating and a $245.00 price target for the company. UBS Group raised their price target on Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th. Argus upgraded Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday, June 18th. Finally, Barclays increased their target price on Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. One research 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. According to MarketBeat, Jabil has an average rating of "Buy" and a consensus price target of $225.71.

Insiders Place Their Bets

In other Jabil news, EVP Steven D. Borges sold 22,443 shares of Jabil stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $200.01, for a total value of $4,488,824.43. Following the completion of the sale, the executive vice president owned 102,803 shares in the company, valued at $20,561,628.03. The trade was a 17.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven A. Raymund sold 15,955 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $216.83, for a total value of $3,459,522.65. Following the sale, the director directly owned 99,828 shares in the company, valued at approximately $21,645,705.24. This trade represents a 13.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 316,431 shares of company stock valued at $60,571,609 in the last three months. Insiders own 1.73% of the company's stock.

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).