Cornercap Investment Counsel Inc. Has $1.76 Million Stake in Jabil Inc. (NYSE:JBL)

Cornercap Investment Counsel Inc. lowered its stake in Jabil Inc. (NYSE:JBL - Free Report) by 37.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,816 shares of the technology company's stock after selling 8,448 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in Jabil were worth $1,760,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Amundi lifted its position in shares of Jabil by 419.8% in the fourth quarter. Amundi now owns 421 shares of the technology company's stock valued at $32,000 after acquiring an additional 340 shares in the last quarter. CVA Family Office LLC purchased a new position in Jabil in the 4th quarter valued at about $36,000. Valley National Advisers Inc. acquired a new stake in shares of Jabil during the 4th quarter worth about $36,000. Zions Bancorporation N.A. purchased a new stake in shares of Jabil during the first quarter worth about $40,000. Finally, ST Germain D J Co. Inc. acquired a new position in shares of Jabil in the second quarter valued at approximately $41,000. Hedge funds and other institutional investors own 93.39% of the company's stock.

Analysts Set New Price Targets

JBL has been the topic of a number of analyst reports. Argus lowered shares of Jabil from a "buy" rating to a "hold" rating in a research report on Tuesday, March 19th. StockNews.com downgraded Jabil from a "buy" rating to a "hold" rating in a research report on Tuesday, March 26th. Barclays dropped their target price on Jabil from $151.00 to $149.00 and set an "overweight" rating for the company in a research note on Monday, March 18th. Finally, The Goldman Sachs Group raised their price target on Jabil from $141.00 to $161.00 and gave the stock a "buy" rating in a research note 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 company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $144.50.

Insiders Place Their Bets

In other news, Chairman Mark T. Mondello sold 50,000 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $126.09, for a total value of $6,304,500.00. Following the completion of the sale, the chairman now owns 1,809,194 shares in the company, valued at $228,121,271.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Chairman Mark T. Mondello sold 50,000 shares of the company's stock in a transaction on 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 directly owns 1,809,194 shares in the company, valued at $228,121,271.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gerald Creadon sold 3,000 shares of Jabil stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $135.62, for a total transaction of $406,860.00. Following the sale, the executive vice president now directly owns 65,434 shares in the company, valued at approximately $8,874,159.08. The disclosure for this sale can be found here. Insiders have sold a total of 92,177 shares of company stock worth $11,665,039 over the last quarter. 2.62% of the stock is owned by corporate insiders.

Jabil Trading Down 1.0 %

Shares of NYSE JBL traded down $1.39 during midday trading on Monday, hitting $132.68. The stock had a trading volume of 801,262 shares, compared to its average volume of 1,343,188. The company has a quick ratio of 0.72, a current ratio of 1.17 and a debt-to-equity ratio of 1.08. Jabil Inc. has a 1-year low of $75.48 and a 1-year high of $156.94. The company has a market capitalization of $16.00 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.43 and a beta of 1.40. The company has a fifty day moving average price of $138.57 and a 200 day moving average price of $131.18.

Jabil (NYSE:JBL - Get Free Report) last announced its quarterly earnings results on Friday, March 15th. The technology company reported $1.54 earnings per share for the quarter, missing analysts' consensus estimates of $1.55 by ($0.01). Jabil had a net margin of 4.70% and a return on equity of 39.47%. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.91 billion. On average, analysts predict that Jabil Inc. will post 7.83 earnings per share for the current year.

Jabil Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend was Wednesday, February 14th. Jabil's dividend payout ratio (DPR) is presently 2.75%.

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).