Point72 Hong Kong Ltd Lowers Stock Position in Jabil Inc. (NYSE:JBL)

Point72 Hong Kong Ltd cut its holdings in shares of Jabil Inc. (NYSE:JBL - Free Report) by 33.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,312 shares of the technology company's stock after selling 16,461 shares during the period. Point72 Hong Kong Ltd's holdings in Jabil were worth $4,794,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Meyer Handelman Co. purchased a new position in Jabil in the 4th quarter valued at approximately $7,334,000. Truist Financial Corp grew its position in shares of Jabil by 50.4% during the fourth quarter. Truist Financial Corp now owns 12,037 shares of the technology company's stock worth $1,732,000 after buying an additional 4,034 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of Jabil during the fourth quarter worth about $235,000. Keybank National Association OH acquired a new position in shares of Jabil during the fourth quarter worth about $214,000. Finally, Principal Financial Group Inc. grew its position in shares of Jabil by 4.4% during the fourth 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 in the last quarter. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on JBL. Barclays lifted their price target on shares of Jabil from $179.00 to $184.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. UBS Group increased their target price on Jabil from $152.00 to $157.00 and gave the company a "neutral" rating in a report on Friday, March 21st. JPMorgan Chase & Co. lowered their price objective on Jabil from $175.00 to $154.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. StockNews.com cut Jabil from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Finally, The Goldman Sachs Group decreased their target price on Jabil from $175.00 to $146.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $158.50.

Jabil Stock Performance

Shares of Jabil stock traded down $0.58 on Monday, hitting $167.21. The stock had a trading volume of 842,762 shares, compared to its average volume of 1,441,789. The stock has a market cap of $17.95 billion, a price-to-earnings ratio of 16.03, a P/E/G ratio of 1.65 and a beta of 1.11. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $174.80. The company's 50 day moving average price is $141.38 and its 200 day moving average price is $145.48. 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 (NYSE:JBL - Get Free Report) last announced its earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.11. The business had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.40 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company's revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm posted $1.68 earnings per share. On average, research analysts anticipate that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Dividend Announcement

The firm 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. The ex-dividend date is Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.19%. Jabil's payout ratio is 7.66%.

Insider Activity

In related news, CEO Michael Dastoor sold 10,000 shares of the stock in a transaction 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 directly owns 221,693 shares of the company's stock, valued at $37,665,640.70. This trade 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 this link. Also, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction 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 approximately $227,624,059.52. This represents a 1.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.73% of the company's stock.

Jabil Company 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).