Two Sigma Advisers LP Sells 520,200 Shares of Jabil Inc. (NYSE:JBL)

Two Sigma Advisers LP cut its holdings in Jabil Inc. (NYSE:JBL - Free Report) by 72.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 202,600 shares of the technology company's stock after selling 520,200 shares during the quarter. Two Sigma Advisers LP owned about 0.19% of Jabil worth $29,154,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Truist Financial Corp raised its position in Jabil by 50.4% in the fourth quarter. Truist Financial Corp now owns 12,037 shares of the technology company's stock worth $1,732,000 after acquiring an additional 4,034 shares in the last quarter. Merit Financial Group LLC acquired a new stake in Jabil during the 4th quarter worth about $235,000. Keybank National Association OH acquired a new stake in Jabil during the 4th quarter worth about $214,000. Principal Financial Group Inc. raised its holdings in Jabil by 4.4% during the 4th quarter. Principal Financial Group Inc. now owns 143,266 shares of the technology company's stock worth $20,616,000 after buying an additional 5,993 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in Jabil by 6.6% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 32,104 shares of the technology company's stock worth $4,620,000 after buying an additional 1,995 shares during the period. 93.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

JBL has been the topic of several recent analyst reports. The Goldman Sachs Group cut their price objective on Jabil from $175.00 to $146.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Barclays boosted their price objective on Jabil from $179.00 to $184.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Wall Street Zen upgraded Jabil from a "hold" rating to a "buy" rating in a report on Monday, May 19th. UBS Group boosted their price objective on Jabil from $152.00 to $157.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Finally, JPMorgan Chase & Co. lowered their target price on Jabil from $175.00 to $154.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $158.50.

Jabil Stock Up 0.3%

NYSE:JBL traded up $0.43 on Friday, hitting $165.53. 595,320 shares of the company's stock traded hands, compared to its average volume of 1,426,914. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $174.80. The firm has a 50-day moving average price of $144.50 and a 200-day moving average price of $146.62. The company has a market cap of $17.77 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 1.65 and a beta of 1.11.

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

Jabil Announces Dividend

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

Insider Buying and Selling

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

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).