New York State Teachers Retirement System Sells 29,494 Shares of Jabil Inc. (NYSE:JBL)

New York State Teachers Retirement System cut its position in Jabil Inc. (NYSE:JBL - Free Report) by 15.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,151 shares of the technology company's stock after selling 29,494 shares during the quarter. New York State Teachers Retirement System owned about 0.13% of Jabil worth $21,040,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in JBL. JPMorgan Chase & Co. grew its stake in shares of Jabil by 71.2% in the first quarter. JPMorgan Chase & Co. now owns 6,232,495 shares of the technology company's stock valued at $549,457,000 after buying an additional 2,591,893 shares in the last quarter. Norges Bank bought a new position in Jabil during the fourth quarter worth $102,656,000. FMR LLC boosted its position in Jabil by 15.9% during the third quarter. FMR LLC now owns 10,525,084 shares of the technology company's stock worth $1,335,528,000 after purchasing an additional 1,440,857 shares during the period. Invesco Ltd. boosted its position in Jabil by 230.6% during the first quarter. Invesco Ltd. now owns 1,863,230 shares of the technology company's stock worth $115,018,000 after purchasing an additional 1,299,593 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in Jabil by 1,610.7% during the first quarter. Envestnet Asset Management Inc. now owns 1,198,451 shares of the technology company's stock worth $6,215,000 after purchasing an additional 1,128,393 shares during the period. 93.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on JBL shares. Argus cut shares of Jabil from a "buy" rating to a "hold" rating in a research report on Tuesday, March 19th. Stifel Nicolaus lifted their price objective on shares of Jabil from $135.00 to $140.00 and gave the stock a "buy" rating in a research report on Friday, December 15th. Barclays dropped their target price on Jabil from $151.00 to $149.00 and set an "overweight" rating for the company in a report on Monday, March 18th. StockNews.com downgraded Jabil from a "buy" rating to a "hold" rating in a report on Tuesday, March 26th. Finally, The Goldman Sachs Group lifted their target price on Jabil from $141.00 to $161.00 and gave the stock a "buy" rating in a report on Monday, March 4th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $144.50.

Jabil Price Performance

JBL stock traded down $2.09 during midday trading on Tuesday, reaching $136.49. The company had a trading volume of 1,184,778 shares, compared to its average volume of 1,369,117. The company has a market capitalization of $17.41 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 1.49 and a beta of 1.40. The stock has a 50 day moving average price of $138.10 and a 200-day moving average price of $130.49. Jabil Inc. has a 1-year low of $75.48 and a 1-year high of $156.94. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.12 and a quick ratio of 0.73.

Jabil (NYSE:JBL - Get Free Report) last posted its quarterly earnings results on Friday, March 15th. The technology company reported $1.54 EPS for the quarter, missing analysts' consensus estimates of $1.55 by ($0.01). The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.91 billion. Jabil had a net margin of 4.70% and a return on equity of 39.27%. Equities research analysts expect that Jabil Inc. will post 7.83 earnings per share for the current year.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Thursday, February 15th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Wednesday, February 14th. Jabil's dividend payout ratio is presently 2.75%.

Insider Buying and Selling at Jabil

In other Jabil news, SVP Roberto Ferri sold 6,183 shares of Jabil stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $129.97, for a total value of $803,604.51. Following the transaction, the senior vice president now owns 37,512 shares in the company, valued at $4,875,434.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Jabil news, SVP Roberto Ferri sold 6,183 shares of Jabil stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $129.97, for a total value of $803,604.51. Following the transaction, the senior vice president now owns 37,512 shares in the company, valued at $4,875,434.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Mark T. Mondello sold 50,000 shares of Jabil stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $126.09, for a total value of $6,304,500.00. Following the completion of the transaction, the chairman now owns 1,809,194 shares in the company, valued at approximately $228,121,271.46. The disclosure for this sale can be found here. Insiders have sold a total of 87,483 shares of company stock worth $10,961,761 over the last 90 days. Insiders own 2.62% 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).