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Jabil Inc. (NYSE:JBL) Stake Reduced by Russell Investments Group Ltd.

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Russell Investments Group Ltd. cut its holdings in Jabil Inc. (NYSE:JBLGet Rating) by 2.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 228,244 shares of the technology company’s stock after selling 6,904 shares during the quarter. Russell Investments Group Ltd. owned about 0.16% of Jabil worth $14,086,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. raised its holdings in Jabil by 1.2% during the 4th quarter. Pacer Advisors Inc. now owns 14,948 shares of the technology company’s stock worth $1,052,000 after buying an additional 177 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in Jabil by 1.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 9,603 shares of the technology company’s stock worth $676,000 after buying an additional 183 shares during the period. Verdence Capital Advisors LLC raised its holdings in Jabil by 4.4% during the 1st quarter. Verdence Capital Advisors LLC now owns 6,657 shares of the technology company’s stock worth $411,000 after buying an additional 282 shares during the period. NorthCrest Asset Manangement LLC raised its holdings in Jabil by 2.8% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 11,000 shares of the technology company’s stock worth $679,000 after buying an additional 300 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in Jabil by 1.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,844 shares of the technology company’s stock worth $1,185,000 after buying an additional 308 shares during the period. 79.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. The Goldman Sachs Group cut their price objective on Jabil from $78.00 to $69.00 and set a “buy” rating on the stock in a report on Wednesday, June 1st. StockNews.com upgraded Jabil from a “buy” rating to a “strong-buy” rating in a report on Friday, April 15th. Finally, Citigroup dropped their target price on Jabil from $90.00 to $80.00 in a report on Friday, June 17th. Three investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Strong Buy” and a consensus target price of $74.80.

Insider Activity

In other news, EVP Robert L. Katz sold 10,423 shares of the firm’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $59.29, for a total transaction of $617,979.67. Following the transaction, the executive vice president now owns 133,257 shares in the company, valued at approximately $7,900,807.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Robert L. Katz sold 9,477 shares of the firm’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $55.00, for a total transaction of $521,235.00. Following the transaction, the executive vice president now owns 143,680 shares in the company, valued at approximately $7,902,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert L. Katz sold 10,423 shares of Jabil stock in a transaction on Friday, July 29th. The stock was sold at an average price of $59.29, for a total transaction of $617,979.67. Following the completion of the transaction, the executive vice president now owns 133,257 shares in the company, valued at approximately $7,900,807.53. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,103 shares of company stock worth $1,558,991. 2.59% of the stock is owned by corporate insiders.

Jabil Price Performance

Shares of JBL opened at $60.92 on Friday. The company has a market capitalization of $8.38 billion, a price-to-earnings ratio of 10.47, a P/E/G ratio of 0.75 and a beta of 1.42. Jabil Inc. has a fifty-two week low of $48.80 and a fifty-two week high of $72.11. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.04 and a quick ratio of 0.54. The business’s 50-day moving average is $56.06 and its 200-day moving average is $58.15.

Jabil (NYSE:JBLGet Rating) last issued its quarterly earnings data on Thursday, June 16th. The technology company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.09. The firm had revenue of $8.33 billion for the quarter, compared to analyst estimates of $8.21 billion. Jabil had a net margin of 2.69% and a return on equity of 37.88%. During the same quarter last year, the firm earned $1.12 earnings per share. Equities research analysts expect that Jabil Inc. will post 6.59 EPS for the current fiscal year.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Stockholders of record on Monday, August 15th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, August 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.53%. Jabil’s dividend payout ratio is currently 5.50%.

About Jabil

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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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