California Public Employees Retirement System Reduces Position in Jabil Inc. (NYSE:JBL)

California Public Employees Retirement System trimmed its holdings in shares of Jabil Inc. (NYSE:JBLGet Rating) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 318,066 shares of the technology company’s stock after selling 19,148 shares during the quarter. California Public Employees Retirement System owned 0.22% of Jabil worth $22,376,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Metropolitan Life Insurance Co NY increased its position in shares of Jabil by 0.5% during the third quarter. Metropolitan Life Insurance Co NY now owns 31,270 shares of the technology company’s stock worth $1,825,000 after acquiring an additional 161 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Jabil by 1.2% in the fourth quarter. Pacer Advisors Inc. now owns 14,948 shares of the technology company’s stock valued at $1,052,000 after buying an additional 177 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Jabil by 1.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 9,603 shares of the technology company’s stock valued at $676,000 after buying an additional 183 shares during the last quarter. Denali Advisors LLC increased its holdings in Jabil by 28.6% in the fourth quarter. Denali Advisors LLC now owns 900 shares of the technology company’s stock valued at $63,000 after buying an additional 200 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in Jabil by 9.5% in the fourth quarter. IFP Advisors Inc now owns 2,977 shares of the technology company’s stock valued at $209,000 after buying an additional 259 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

JBL has been the subject of several research analyst reports. Zacks Investment Research raised Jabil from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Monday, March 21st. StockNews.com upgraded Jabil from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 15th. Finally, Citigroup restated a “top pick” rating and issued a $90.00 target price on shares of Jabil in a research note on Thursday, March 17th. Five research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $77.14.

In other Jabil news, CEO Mark T. Mondello sold 12,000 shares of the company’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $62.20, for a total value of $746,400.00. Following the transaction, the chief executive officer now owns 2,055,589 shares of the company’s stock, valued at $127,857,635.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.59% of the company’s stock.

JBL opened at $58.17 on Friday. The company has a market capitalization of $8.21 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 0.73 and a beta of 1.38. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.01 and a quick ratio of 0.55. Jabil Inc. has a 1-year low of $52.33 and a 1-year high of $72.11. The business has a 50 day moving average price of $58.73 and a two-hundred day moving average price of $61.69.

Jabil (NYSE:JBLGet Rating) last released its earnings results on Wednesday, March 16th. The technology company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.24. The firm had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.44 billion. Jabil had a return on equity of 36.62% and a net margin of 2.63%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 earnings per share. Equities analysts expect that Jabil Inc. will post 6.4 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 2nd. Shareholders of record on Monday, May 16th will be given a $0.08 dividend. The ex-dividend date is Friday, May 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.55%. Jabil’s dividend payout ratio (DPR) is 5.90%.

Jabil Profile (Get Rating)

Jabil Inc provides manufacturing services and solutions worldwide. The company operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides electronic 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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Institutional Ownership by Quarter for Jabil (NYSE:JBL)

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