Chevy Chase Trust Holdings LLC Decreases Stock Position in Jabil Inc. (NYSE:JBL)

Chevy Chase Trust Holdings LLC cut its position in Jabil Inc. (NYSE:JBL) by 1.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 70,702 shares of the technology company’s stock after selling 770 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Jabil were worth $9,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in JBL. Benjamin Edwards Inc. bought a new stake in shares of Jabil during the 1st quarter valued at $25,000. Activest Wealth Management purchased a new position in shares of Jabil in the 1st quarter worth about $28,000. Alaska Permanent Fund Corp purchased a new position in shares of Jabil in the 4th quarter worth about $29,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in Jabil during the 4th quarter valued at about $32,000. Finally, Riverview Trust Co purchased a new stake in Jabil during the 1st quarter valued at about $33,000. 93.39% of the stock is currently owned by institutional investors.

Insider Activity

In other Jabil news, CEO Kenneth S. Wilson sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $134.20, for a total value of $2,013,000.00. Following the completion of the transaction, the chief executive officer now owns 339,725 shares of the company’s stock, valued at approximately $45,591,095. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.62% of the company’s stock.

Jabil Stock Up 3.0 %

Shares of JBL stock traded up $3.30 during trading hours on Wednesday, reaching $113.31. 566,993 shares of the company’s stock were exchanged, compared to its average volume of 1,480,728. The stock’s 50 day moving average is $116.06 and its 200-day moving average is $126.80. The company has a market cap of $13.67 billion, a price-to-earnings ratio of 10.01, a P/E/G ratio of 1.96 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 1.26. Jabil Inc. has a fifty-two week low of $100.18 and a fifty-two week high of $156.94.

Jabil (NYSE:JBL) last posted its earnings results on Thursday, June 20th. The technology company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. Jabil had a net margin of 4.63% and a return on equity of 40.30%. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.53 billion. During the same period in the prior year, the company posted $1.85 EPS. The company’s revenue for the quarter was down 20.2% on a year-over-year basis. Analysts predict that Jabil Inc. will post 7.86 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. Jabil’s payout ratio is 2.91%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group cut their price target on Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, June 21st. Argus downgraded Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. cut their price target on Jabil from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, June 17th. Finally, Bank of America cut their price target on Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $142.63.

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).