QRG Capital Management Inc. Has $841,000 Stake in Jabil Inc. (NYSE:JBL)

QRG Capital Management Inc. lessened its stake in shares of Jabil Inc. (NYSE:JBL) by 2.2% during the fourth quarter, Holdings Channel reports. The fund owned 5,846 shares of the technology company’s stock after selling 132 shares during the quarter. QRG Capital Management Inc.’s holdings in Jabil were worth $841,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of JBL. Bleakley Financial Group LLC raised its holdings in shares of Jabil by 2.2% during the fourth quarter. Bleakley Financial Group LLC now owns 3,273 shares of the technology company’s stock valued at $471,000 after purchasing an additional 70 shares during the period. Greenleaf Trust increased its position in Jabil by 1.3% in the 4th quarter. Greenleaf Trust now owns 5,671 shares of the technology company’s stock valued at $816,000 after buying an additional 72 shares in the last quarter. Resonant Capital Advisors LLC raised its stake in Jabil by 3.3% during the 4th quarter. Resonant Capital Advisors LLC now owns 2,539 shares of the technology company’s stock worth $365,000 after buying an additional 80 shares during the period. Van ECK Associates Corp boosted its holdings in Jabil by 6.0% in the third quarter. Van ECK Associates Corp now owns 1,589 shares of the technology company’s stock worth $195,000 after acquiring an additional 90 shares in the last quarter. Finally, Verdence Capital Advisors LLC grew its stake in Jabil by 2.9% in the third quarter. Verdence Capital Advisors LLC now owns 3,234 shares of the technology company’s stock valued at $387,000 after acquiring an additional 91 shares during the period. 93.39% of the stock is owned by institutional investors.

Jabil Stock Down 5.6 %

Jabil stock opened at $146.21 on Tuesday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. The stock has a market cap of $15.96 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 1.65 and a beta of 1.23. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $174.80. The firm’s 50-day simple moving average is $158.96 and its 200 day simple moving average is $135.37.

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

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date is Tuesday, February 18th. Jabil’s payout ratio is 3.07%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on JBL. The Goldman Sachs Group upped their target price on Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. StockNews.com downgraded shares of Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. UBS Group lifted their price objective on shares of Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Stifel Nicolaus restated a “buy” rating and issued a $160.00 target price (up previously from $150.00) on shares of Jabil in a report on Thursday, December 19th. Finally, Barclays lifted their price target on Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Jabil currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.83.

Insider Buying and Selling

In related news, Director John C. Plant sold 50,000 shares of Jabil stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $172.55, for a total value of $8,627,500.00. Following the sale, the director now owns 5,900 shares of the company’s stock, valued at approximately $1,018,045. The trade was a 89.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Frederic E. Mccoy sold 4,000 shares of the 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 transaction, the executive vice president now directly owns 138,472 shares of the company’s stock, valued at approximately $20,744,490.32. This trade represents a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,400 shares of company stock valued at $12,804,458. 1.73% of the stock is owned by insiders.

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).