Toronto Dominion Bank Reduces Position in Jabil Inc. (NYSE:JBL)

Toronto Dominion Bank trimmed its position in Jabil Inc. (NYSE:JBL - Free Report) by 9.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,149 shares of the technology company's stock after selling 3,757 shares during the quarter. Toronto Dominion Bank's holdings in Jabil were worth $5,490,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Jabil in the fourth quarter worth about $27,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Jabil in the fourth quarter worth about $29,000. Millstone Evans Group LLC purchased a new stake in shares of Jabil in the fourth quarter worth about $37,000. First Horizon Advisors Inc. lifted its holdings in shares of Jabil by 90.3% in the fourth quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company's stock worth $39,000 after buying an additional 130 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Jabil by 113.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 297 shares of the technology company's stock worth $43,000 after buying an additional 158 shares in the last quarter. 93.39% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Jabil

In other news, Chairman Mark T. Mondello sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $131.56, for a total value of $2,631,200.00. Following the transaction, the chairman now owns 1,730,192 shares in the company, valued at approximately $227,624,059.52. This trade represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Dastoor sold 10,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $169.90, for a total value of $1,699,000.00. Following the completion of the sale, the chief executive officer now directly owns 221,693 shares of the company's stock, valued at $37,665,640.70. The trade was a 4.32% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.73% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on JBL shares. Barclays upped their price objective on shares of Jabil from $179.00 to $184.00 and gave the stock an "overweight" 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 on the stock in a research report on Thursday, April 17th. The Goldman Sachs Group decreased their price objective on shares of Jabil from $175.00 to $146.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. StockNews.com upgraded shares of Jabil from a "hold" rating to a "buy" rating in a research report on Monday. Finally, UBS Group upped their price objective 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. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $158.50.

Jabil Stock Down 1.4%

Shares of NYSE JBL opened at $165.17 on Thursday. Jabil Inc. has a one year low of $95.85 and a one year high of $174.80. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72. The firm's 50 day simple moving average is $143.37 and its two-hundred day simple moving average is $146.04. The stock has a market capitalization of $17.73 billion, a P/E ratio of 15.84, a PEG ratio of 1.65 and a beta of 1.11.

Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The business had revenue of $6.73 billion for the quarter, compared to analysts' expectations of $6.40 billion. During the same period last year, the business earned $1.68 earnings per share. The business's quarterly revenue was down .6% on a year-over-year basis. As a group, analysts expect that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Dividend Announcement

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

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).

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