Illinois Municipal Retirement Fund Decreases Holdings in Jabil Inc. (NYSE:JBL)

Illinois Municipal Retirement Fund reduced its position in Jabil Inc. (NYSE:JBL) by 27.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,186 shares of the technology company’s stock after selling 8,818 shares during the period. Illinois Municipal Retirement Fund’s holdings in Jabil were worth $3,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of JBL. Capital Performance Advisors LLP bought a new stake in shares of Jabil during the 3rd quarter valued at about $32,000. First Horizon Advisors Inc. grew its position in Jabil by 90.3% during the fourth quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company’s stock valued at $39,000 after buying an additional 130 shares during the period. GHP Investment Advisors Inc. purchased a new stake in Jabil during the fourth quarter valued at approximately $43,000. Brooklyn Investment Group bought a new position in Jabil in the third quarter worth approximately $39,000. Finally, Cromwell Holdings LLC boosted its stake in shares of Jabil by 412.7% during the 4th quarter. Cromwell Holdings LLC now owns 364 shares of the technology company’s stock worth $52,000 after acquiring an additional 293 shares during the last quarter. Institutional investors own 93.39% of the company’s stock.

Wall Street Analyst Weigh In

JBL has been the topic of a number of recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $160.00 target price (up from $150.00) on shares of Jabil in a report on Thursday, December 19th. Barclays raised their price objective on Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. UBS Group boosted their price objective on Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. The Goldman Sachs Group raised their target price on shares of Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a research note on Monday. Finally, StockNews.com lowered shares of Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.83.

Insider Transactions at Jabil

In related news, EVP Frederic E. Mccoy sold 4,000 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $149.81, for a total value of $599,240.00. Following the sale, the executive vice president now owns 138,472 shares in the company, valued at approximately $20,744,490.32. The trade was a 2.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Christopher S. Holland sold 3,400 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $162.27, for a total transaction of $551,718.00. Following the sale, the director now directly owns 12,900 shares in the company, valued at approximately $2,093,283. The trade was a 20.86 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,400 shares of company stock valued at $12,804,458. 1.73% of the stock is currently owned by insiders.

Jabil Trading Up 0.8 %

JBL stock opened at $158.81 on Thursday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $174.80. The business has a 50 day simple moving average of $158.48 and a two-hundred day simple moving average of $134.16. The company has a market capitalization of $17.34 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 1.65 and a beta of 1.23.

Jabil (NYSE:JBL) last issued its earnings results on Wednesday, December 18th. The technology company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.12. The firm had revenue of $6.99 billion during the quarter, compared to analyst estimates of $6.61 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. Jabil’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.60 earnings per share. Research analysts anticipate that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, February 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.20%. Jabil’s payout ratio is 3.07%.

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).