Adage Capital Partners GP L.L.C. Sells 562,778 Shares of Jabil Inc. (NYSE:JBL)

Adage Capital Partners GP L.L.C. lessened its stake in shares of Jabil Inc. (NYSE:JBLGet Rating) by 47.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 633,667 shares of the technology company’s stock after selling 562,778 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.44% of Jabil worth $44,578,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of JBL. Commonwealth Equity Services LLC boosted its stake in shares of Jabil by 7.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 35,545 shares of the technology company’s stock worth $2,500,000 after buying an additional 2,425 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Jabil by 6.0% during the third quarter. Thrivent Financial for Lutherans now owns 45,078 shares of the technology company’s stock valued at $2,631,000 after purchasing an additional 2,568 shares in the last quarter. Raymond James & Associates raised its holdings in Jabil by 12.7% during the fourth quarter. Raymond James & Associates now owns 209,523 shares of the technology company’s stock valued at $14,740,000 after acquiring an additional 23,544 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in Jabil by 14.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 41,705 shares of the technology company’s stock valued at $2,935,000 after acquiring an additional 5,392 shares during the period. Finally, CIBC Private Wealth Group LLC bought a new stake in Jabil during the fourth quarter valued at about $214,000. 79.69% of the stock is owned by institutional investors.

JBL opened at $61.45 on Friday. The firm has a market cap of $8.68 billion, a P/E ratio of 11.34, a P/E/G ratio of 0.81 and a beta of 1.37. Jabil Inc. has a 12 month low of $52.43 and a 12 month high of $72.11. The company has a current ratio of 1.01, a quick ratio of 0.55 and a debt-to-equity ratio of 1.02. The stock has a 50-day moving average of $58.85 and a 200 day moving average of $61.31.

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

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 2nd. Shareholders of record on Monday, May 16th were given a dividend of $0.08 per share. The ex-dividend date was Friday, May 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.52%. Jabil’s dividend payout ratio (DPR) is presently 5.90%.

A number of equities research analysts have commented on JBL shares. The Goldman Sachs Group decreased their price target on Jabil from $78.00 to $69.00 and set a “buy” rating on the stock in a report on Wednesday. StockNews.com raised Jabil from a “buy” rating to a “strong-buy” rating in a report on Friday, April 15th. Citigroup reissued a “top pick” rating and set a $90.00 price target on shares of Jabil in a report on Thursday, March 17th. Finally, Zacks Investment Research cut Jabil from a “strong-buy” rating to a “hold” rating and set a $64.00 price target on the stock. in a report on Tuesday, May 17th. One analyst has rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $75.43.

In other Jabil news, Director Anousheh Ansari sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $62.00, for a total transaction of $217,000.00. Following the completion of the transaction, the director now owns 37,400 shares in the company, valued at $2,318,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark T. Mondello sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, April 4th. The shares were 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 approximately $127,857,635.80. The disclosure for this sale can be found here. 2.59% of the stock is owned by insiders.

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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