Skandinaviska Enskilda Banken AB publ Trims Position in Jabil Inc. (NYSE:JBL)

Posted by Defense World Staff on Feb 25th, 2023

Skandinaviska Enskilda Banken AB publ reduced its position in shares of Jabil Inc. (NYSE:JBL – Get Rating) by 2.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,600 shares of the technology company’s stock after selling 200 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Jabil were worth $496,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of JBL. Parallel Advisors LLC grew its holdings in shares of Jabil by 212.6% during the 2nd quarter. Parallel Advisors LLC now owns 669 shares of the technology company’s stock worth $34,000 after purchasing an additional 455 shares during the period. Field & Main Bank purchased a new position in Jabil during the third quarter worth about $35,000. Zions Bancorporation N.A. acquired a new stake in shares of Jabil during the first quarter valued at about $40,000. Ronald Blue Trust Inc. purchased a new stake in shares of Jabil in the 2nd quarter valued at approximately $70,000. Finally, Amundi lifted its holdings in shares of Jabil by 30.6% in the 2nd quarter. Amundi now owns 1,489 shares of the technology company’s stock worth $77,000 after acquiring an additional 349 shares during the last quarter. 88.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Jabil

In other Jabil news, SVP May Yee Yap sold 3,616 shares of Jabil stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $81.10, for a total transaction of $293,257.60. Following the completion of the sale, the senior vice president now directly owns 38,398 shares of the company’s stock, valued at approximately $3,114,077.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Jabil news, SVP May Yee Yap sold 3,616 shares of the stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $81.10, for a total value of $293,257.60. Following the transaction, the senior vice president now directly owns 38,398 shares in the company, valued at $3,114,077.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kenneth S. Wilson sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $70.00, for a total transaction of $350,000.00. Following the sale, the executive vice president now owns 337,776 shares of the company’s stock, valued at approximately $23,644,320. The disclosure for this sale can be found here. Insiders have sold 213,632 shares of company stock valued at $16,094,489 over the last quarter. 2.75% of the stock is owned by insiders.

Jabil Trading Up 0.3 %

JBL opened at $83.37 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.02 and a quick ratio of 0.57. The stock has a market capitalization of $11.11 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 0.88 and a beta of 1.42. The business has a fifty day moving average price of $76.64 and a 200 day moving average price of $67.99. Jabil Inc. has a 12 month low of $48.80 and a 12 month high of $84.92.

Jabil (NYSE:JBL – Get Rating) last released its earnings results on Thursday, December 15th. The technology company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.28). Jabil had a return on equity of 40.43% and a net margin of 2.83%. The firm had revenue of $9.64 billion for the quarter, compared to analysts’ expectations of $9.28 billion. Sell-side analysts expect that Jabil Inc. will post 7.81 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 2nd. Stockholders of record on Wednesday, February 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, February 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.38%. Jabil’s dividend payout ratio (DPR) is currently 4.64%.

Analysts Set New Price Targets

JBL has been the topic of a number of research analyst reports. StockNews.com raised Jabil from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Credit Suisse Group increased their target price on Jabil from $90.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday. UBS Group assumed coverage on Jabil in a research report on Tuesday, December 13th. They issued a “neutral” rating and a $76.00 target price for the company. Finally, Citigroup increased their price target on shares of Jabil from $80.00 to $85.00 in a research report on Friday, December 16th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Jabil presently has an average rating of “Buy” and a consensus price target of $82.40.

Jabil Company Profile

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Jabil, Inc engages in the provision of electronic manufacturing services and solutions. It offers electronics design, production, product management, and repair services to companies in the automotive and transportation, capital equipment, consumer lifestyles and wearable technologies, computing and storage, defense and aerospace, digital home, healthcare, industrial and energy, mobility, networking and telecommunications, packaging, point of sale, and printing industries.