Metropolitan Life Insurance Co. NY lessened its holdings in Jabil (NYSE:JBL) by 70.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 50,481 shares of the technology company’s stock after selling 118,024 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Jabil were worth $1,325,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of JBL. Sei Investments Co. lifted its stake in shares of Jabil by 10.7% in the 3rd quarter. Sei Investments Co. now owns 67,364 shares of the technology company’s stock worth $1,924,000 after purchasing an additional 6,487 shares during the period. Russell Investments Group Ltd. raised its stake in Jabil by 4.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 416,452 shares of the technology company’s stock worth $11,888,000 after acquiring an additional 17,861 shares during the period. Macquarie Group Ltd. raised its stake in Jabil by 45.3% during the 3rd quarter. Macquarie Group Ltd. now owns 63,500 shares of the technology company’s stock worth $1,813,000 after acquiring an additional 19,800 shares during the period. ETRADE Capital Management LLC bought a new stake in Jabil during the 3rd quarter worth approximately $238,000. Finally, Legal & General Group Plc raised its stake in Jabil by 2.9% during the 3rd quarter. Legal & General Group Plc now owns 941,101 shares of the technology company’s stock worth $26,879,000 after acquiring an additional 26,767 shares during the period. Hedge funds and other institutional investors own 99.76% of the company’s stock.
In other Jabil news, EVP Erich Hoch sold 2,029 shares of the stock in a transaction that occurred on Thursday, March 22nd. The shares were sold at an average price of $29.80, for a total transaction of $60,464.20. Following the completion of the sale, the executive vice president now directly owns 204,325 shares of the company’s stock, valued at approximately $6,088,885. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas A. Sansone sold 15,000 shares of the stock in a transaction that occurred on Friday, March 23rd. The shares were sold at an average price of $29.88, for a total transaction of $448,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,066 shares of company stock valued at $2,518,009. Insiders own 2.60% of the company’s stock.
Jabil (NYSE:JBL) last announced its quarterly earnings data on Thursday, March 15th. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. Jabil had a net margin of 0.60% and a return on equity of 14.31%. The business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $4.91 billion. During the same period last year, the firm posted $0.48 EPS. The company’s revenue was up 19.2% on a year-over-year basis. analysts forecast that Jabil will post 2.05 earnings per share for the current fiscal year.
A number of equities research analysts have commented on the stock. Zacks Investment Research cut shares of Jabil from a “hold” rating to a “sell” rating in a research note on Tuesday, March 20th. Raymond James Financial restated a “hold” rating on shares of Jabil in a research note on Thursday, December 14th. Goldman Sachs decreased their target price on shares of Jabil to $24.00 and set a “sell” rating on the stock in a research note on Friday, January 26th. Standpoint Research upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research note on Tuesday, February 27th. Finally, ValuEngine cut shares of Jabil from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 4th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $32.90.
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Jabil Company Profile
Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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).
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