Creative Planning Lowers Stock Position in Jabil Inc (NYSE:JBL)
Creative Planning lessened its holdings in Jabil Inc (NYSE:JBL) by 14.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,795 shares of the technology company’s stock after selling 3,096 shares during the quarter. Creative Planning’s holdings in Jabil were worth $637,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Arcadia Investment Management Corp MI purchased a new stake in shares of Jabil during the 2nd quarter worth approximately $28,000. Advisory Services Network LLC boosted its stake in shares of Jabil by 57.1% during the 2nd quarter. Advisory Services Network LLC now owns 1,238 shares of the technology company’s stock worth $39,000 after acquiring an additional 450 shares in the last quarter. Private Capital Group LLC boosted its stake in shares of Jabil by 1,804.5% during the 2nd quarter. Private Capital Group LLC now owns 1,276 shares of the technology company’s stock worth $35,000 after acquiring an additional 1,209 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Jabil during the 2nd quarter worth approximately $42,000. Finally, Doyle Wealth Management purchased a new stake in shares of Jabil during the 2nd quarter worth approximately $93,000. 89.09% of the stock is currently owned by institutional investors.
Shares of JBL opened at $39.34 on Thursday. The stock has a fifty day moving average of $36.52 and a two-hundred day moving average of $30.93. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.62 and a current ratio of 0.98. The company has a market capitalization of $6.04 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. Jabil Inc has a fifty-two week low of $21.49 and a fifty-two week high of $39.72.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.81%. Jabil’s payout ratio is 17.68%.
In other news, CFO Michael Dastoor sold 18,486 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $39.43, for a total transaction of $728,902.98. Following the completion of the sale, the chief financial officer now directly owns 204,702 shares in the company, valued at approximately $8,071,399.86. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas A. Sansone sold 75,000 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $33.25, for a total value of $2,493,750.00. Following the sale, the director now owns 192,988 shares of the company’s stock, valued at $6,416,851. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 307,132 shares of company stock valued at $11,074,949. Insiders own 2.90% of the company’s stock.
Several brokerages recently issued reports on JBL. Bank of America lifted their price objective on Jabil from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. lifted their price objective on Jabil from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Citigroup lifted their price objective on Jabil from $36.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Standpoint Research downgraded Jabil from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus lifted their price objective on Jabil from $30.00 to $34.00 and gave the stock a “hold” rating in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $37.13.
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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