State Treasurer State of Michigan cut its position in Jabil Inc (NYSE:JBL) by 17.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,200 shares of the technology company’s stock after selling 9,000 shares during the quarter. State Treasurer State of Michigan’s holdings in Jabil were worth $1,302,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its position in Jabil by 103.3% in the first quarter. State of Alaska Department of Revenue now owns 34,159 shares of the technology company’s stock valued at $907,000 after buying an additional 17,353 shares in the last quarter. First Citizens Bank & Trust Co. boosted its position in Jabil by 37.5% in the first quarter. First Citizens Bank & Trust Co. now owns 12,386 shares of the technology company’s stock valued at $329,000 after buying an additional 3,379 shares in the last quarter. Cozad Asset Management Inc. boosted its position in Jabil by 16.5% in the first quarter. Cozad Asset Management Inc. now owns 13,750 shares of the technology company’s stock valued at $366,000 after buying an additional 1,950 shares in the last quarter. Foundry Partners LLC boosted its position in Jabil by 0.5% in the first quarter. Foundry Partners LLC now owns 316,731 shares of the technology company’s stock valued at $8,422,000 after buying an additional 1,525 shares in the last quarter. Finally, Smith Graham & Co. Investment Advisors LP boosted its position in Jabil by 1.0% in the first quarter. Smith Graham & Co. Investment Advisors LP now owns 279,970 shares of the technology company’s stock valued at $7,444,000 after buying an additional 2,830 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

In related news, CEO Alessandro Parimbelli sold 3,500 shares of Jabil stock in a transaction on Monday, June 24th. The shares were sold at an average price of $30.78, for a total transaction of $107,730.00. Following the completion of the transaction, the chief executive officer now owns 317,292 shares of the company’s stock, valued at $9,766,247.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Bruce Allan Johnson sold 6,000 shares of Jabil stock in a transaction on Friday, June 28th. The stock was sold at an average price of $31.50, for a total transaction of $189,000.00. Following the transaction, the senior vice president now directly owns 147,700 shares of the company’s stock, valued at approximately $4,652,550. The disclosure for this sale can be found here. Insiders have sold 36,500 shares of company stock valued at $1,158,595 in the last three months. 2.90% of the stock is owned by insiders.

Separately, Zacks Investment Research lowered shares of Jabil from a “hold” rating to a “sell” rating and set a $29.00 target price on the stock. in a research report on Wednesday, June 19th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Jabil has a consensus rating of “Hold” and a consensus target price of $29.33.

JBL stock opened at $28.75 on Wednesday. The company’s fifty day simple moving average is $30.39. The company has a market capitalization of $4.41 billion, a P/E ratio of 13.25, a P/E/G ratio of 1.09 and a beta of 0.96. Jabil Inc has a 52-week low of $21.49 and a 52-week high of $32.24. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.01 and a quick ratio of 0.61.

Jabil (NYSE:JBL) last announced its earnings results on Tuesday, June 18th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. Jabil had a net margin of 0.72% and a return on equity of 18.57%. The business had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $6.01 billion. During the same quarter last year, the firm earned $0.46 earnings per share. Jabil’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, sell-side analysts expect that Jabil Inc will post 2.16 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Wednesday, August 14th. Jabil’s dividend payout ratio is presently 14.75%.

Jabil Company Profile

Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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).

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Institutional Ownership by Quarter for Jabil (NYSE:JBL)

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