First Citizens Bank & Trust Co. trimmed its position in shares of Jabil Inc (NYSE:JBL) by 7.0% in the third quarter, Holdings Channel.com reports. The firm owned 6,505 shares of the technology company’s stock after selling 492 shares during the period. First Citizens Bank & Trust Co.’s holdings in Jabil were worth $223,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in JBL. Patriot Financial Group Insurance Agency LLC acquired a new stake in Jabil during the 2nd quarter valued at $25,000. Captrust Financial Advisors acquired a new stake in Jabil during the 2nd quarter valued at $103,000. Tower Research Capital LLC TRC grew its holdings in Jabil by 22,210.0% during the 1st quarter. Tower Research Capital LLC TRC now owns 6,693 shares of the technology company’s stock valued at $165,000 after purchasing an additional 6,663 shares in the last quarter. Profund Advisors LLC acquired a new stake in Jabil during the 2nd quarter valued at $202,000. Finally, Two Sigma Securities LLC acquired a new stake in Jabil during the 2nd quarter valued at $202,000. 89.50% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on JBL shares. Royal Bank of Canada raised their price objective on shares of Jabil from $35.00 to $38.00 and gave the stock a “sector perform” rating in a report on Friday, September 25th. TheStreet raised shares of Jabil from a “c” rating to a “b-” rating in a report on Thursday, September 24th. Citigroup raised their price objective on shares of Jabil from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, September 18th. JPMorgan Chase & Co. raised their price objective on shares of Jabil from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Finally, Goldman Sachs Group raised shares of Jabil from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $36.00 to $40.00 in a report on Wednesday, July 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Jabil presently has an average rating of “Hold” and an average price target of $39.11.
NYSE JBL opened at $36.31 on Friday. Jabil Inc has a one year low of $17.63 and a one year high of $44.20. The company has a 50-day simple moving average of $33.84 and a 200-day simple moving average of $31.33. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.66 and a current ratio of 1.01. The firm has a market capitalization of $5.47 billion, a PE ratio of 106.80, a price-to-earnings-growth ratio of 0.94 and a beta of 1.25.
Jabil (NYSE:JBL) last posted its quarterly earnings results on Thursday, September 24th. The technology company reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.32. Jabil had a net margin of 0.20% and a return on equity of 5.25%. The business had revenue of $7.30 billion during the quarter, compared to analyst estimates of $6.28 billion. During the same period in the previous year, the business posted $0.88 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. Equities analysts forecast that Jabil Inc will post 3.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Monday, November 16th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, November 13th. Jabil’s dividend payout ratio (DPR) is presently 91.43%.
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).
Recommended Story: Quiet Period Expirations
Want to see what other hedge funds are holding JBL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jabil Inc (NYSE:JBL).
Receive News & Ratings for Jabil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jabil and related companies with MarketBeat.com's FREE daily email newsletter.