Teachers Retirement System of The State of Kentucky Trims Stock Holdings in Jabil, Inc. (NYSE:JBL)

Teachers Retirement System of The State of Kentucky trimmed its position in Jabil, Inc. (NYSE:JBL - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 340,334 shares of the technology company's stock after selling 24,115 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.32% of Jabil worth $46,310,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. grew its stake in Jabil by 84.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 13,568 shares of the technology company's stock worth $1,846,000 after purchasing an additional 6,225 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Jabil by 8.1% in the first quarter. Envestnet Asset Management Inc. now owns 242,977 shares of the technology company's stock worth $33,062,000 after acquiring an additional 18,126 shares during the last quarter. Kingswood Wealth Advisors LLC grew its stake in shares of Jabil by 7.0% in the first quarter. Kingswood Wealth Advisors LLC now owns 3,326 shares of the technology company's stock worth $453,000 after acquiring an additional 217 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new stake in shares of Jabil in the first quarter worth $214,000. Finally, QRG Capital Management Inc. grew its stake in shares of Jabil by 2.3% in the first quarter. QRG Capital Management Inc. now owns 5,978 shares of the technology company's stock worth $813,000 after acquiring an additional 132 shares during the last quarter. 93.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on JBL shares. Raymond James Financial reissued a "strong-buy" rating and issued a $230.00 target price (up from $170.00) on shares of Jabil in a research note on Wednesday, June 18th. Stifel Nicolaus started coverage on Jabil in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $245.00 target price on the stock. The Goldman Sachs Group increased their target price on Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Bank of America upped their price target on Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a report on Friday, June 20th. Finally, Argus raised Jabil from a "hold" rating to a "buy" rating in a report on Wednesday, June 18th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $231.71.

Insiders Place Their Bets

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 stock was sold at an average price of $216.59, for a total value of $4,331,800.00. Following the completion of the sale, the chairman owned 1,440,190 shares in the company, valued at $311,930,752.10. This represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Steven A. Raymund sold 15,955 shares of the company's stock in a transaction dated 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 completion of the sale, the director owned 99,828 shares of the company's stock, valued at approximately $21,645,705.24. The trade was a 13.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 297,431 shares of company stock valued at $58,163,159. 1.73% of the stock is currently owned by corporate insiders.

Jabil Stock Up 0.8%

JBL stock opened at $224.00 on Friday. Jabil, Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $227.54. The business's 50-day moving average is $192.62 and its two-hundred day moving average is $164.06. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.64 and a current ratio of 0.98. The company has a market cap of $24.04 billion, a price-to-earnings ratio of 43.50, a P/E/G ratio of 1.57 and a beta of 1.20.

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

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).

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