Truist Financial Corp Sells 20,505 Shares of Jabil, Inc. $JBL

Key Points

• Truist Financial cut its Jabil stake by 54.3% in the fourth quarter, selling 20,505 shares and leaving it with 17,268 shares valued at about $3.94 million.
• Jabil reported better-than-expected quarterly results, with EPS of $2.69 versus $2.51 expected and revenue of $8.28 billion, up 23.1% year over year.
• Analysts remain constructive on the stock, with the average price target now at about $290.63 and several firms recently raising their targets, while Jabil shares have been trading near record highs.

Truist Financial Corp lessened its position in Jabil, Inc. (NYSE:JBL - Free Report) by 54.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,268 shares of the technology company's stock after selling 20,505 shares during the period. Truist Financial Corp's holdings in Jabil were worth $3,938,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. First Horizon Corp bought a new stake in Jabil during the 3rd quarter worth approximately $30,000. Veracity Capital LLC increased its stake in shares of Jabil by 4,144.3% during the 4th quarter. Veracity Capital LLC now owns 3,735 shares of the technology company's stock worth $31,000 after purchasing an additional 3,647 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Jabil during the 3rd quarter worth approximately $43,000. Rothschild Investment LLC raised its holdings in shares of Jabil by 51.1% in the 3rd quarter. Rothschild Investment LLC now owns 213 shares of the technology company's stock worth $46,000 after purchasing an additional 72 shares during the period. Finally, Caitlin John LLC purchased a new position in Jabil in the third quarter valued at approximately $47,000. Institutional investors and hedge funds own 93.39% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on JBL. Stifel Nicolaus raised their target price on Jabil from $255.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, March 19th. Weiss Ratings cut Jabil from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, April 24th. JPMorgan Chase & Co. lifted their price objective on Jabil from $270.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, March 12th. UBS Group boosted their price objective on Jabil from $244.00 to $254.00 and gave the company a "neutral" rating in a research note on Tuesday, March 10th. Finally, Bank of America upped their price objective on shares of Jabil from $295.00 to $354.00 and gave the company a "buy" rating in a report on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $290.63.

Jabil Trading Up 2.9%

Shares of JBL stock opened at $365.28 on Tuesday. The stock has a market capitalization of $38.54 billion, a price-to-earnings ratio of 49.03, a PEG ratio of 1.84 and a beta of 1.29. The company's fifty day simple moving average is $290.56 and its two-hundred day simple moving average is $251.44. Jabil, Inc. has a 1 year low of $159.46 and a 1 year high of $372.37. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.01 and a quick ratio of 0.68.

Jabil (NYSE:JBL - Get Free Report) last posted its quarterly earnings results on Wednesday, March 18th. The technology company reported $2.69 EPS for the quarter, topping analysts' consensus estimates of $2.51 by $0.18. The firm had revenue of $8.28 billion during the quarter, compared to analyst estimates of $7.75 billion. Jabil had a return on equity of 80.96% and a net margin of 2.48%.The business's revenue for the quarter was up 23.1% on a year-over-year basis. During the same period last year, the company earned $1.94 earnings per share. As a group, analysts anticipate that Jabil, Inc. will post 11.3 earnings per share for the current year.

Jabil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Friday, May 15th will be paid a $0.08 dividend. The ex-dividend date is Friday, May 15th. This represents a $0.32 annualized dividend and a yield of 0.1%. Jabil's dividend payout ratio (DPR) is currently 4.30%.

Insider Buying and Selling at Jabil

In other news, EVP Steven D. Borges sold 7,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $290.00, for a total value of $2,030,000.00. Following the completion of the transaction, the executive vice president directly owned 76,524 shares in the company, valued at approximately $22,191,960. This trade represents a 8.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP May Yee Yap sold 1,634 shares of the business's stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $306.74, for a total transaction of $501,213.16. Following the transaction, the senior vice president directly owned 23,787 shares of the company's stock, valued at approximately $7,296,424.38. This represents a 6.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 37,981 shares of company stock worth $11,360,740. 1.35% of the stock is owned by corporate insiders.

Jabil Profile

Jabil Inc NYSE: JBL is a global manufacturing solutions provider specializing in electronic manufacturing services (EMS) and diversified products across a wide range of industries. The company partners with original equipment manufacturers to deliver design engineering, supply chain management, precision manufacturing, and aftermarket services. Jabil's expertise spans sectors such as healthcare, automotive, clean technology, telecommunications, consumer electronics, and packaging, enabling it to support both high-volume production and complex, mission-critical applications.

Founded in 1966 by William E.

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