CCM Investment Advisers LLC Reduces Position in Jabil Inc. (NYSE:JBL)

CCM Investment Advisers LLC trimmed its position in Jabil Inc. (NYSE:JBL) by 13.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 142,496 shares of the technology company’s stock after selling 22,169 shares during the quarter. Jabil makes up 2.4% of CCM Investment Advisers LLC’s investment portfolio, making the stock its 11th largest position. CCM Investment Advisers LLC owned approximately 0.13% of Jabil worth $19,390,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of JBL. Truist Financial Corp boosted its holdings in Jabil by 50.4% in the fourth quarter. Truist Financial Corp now owns 12,037 shares of the technology company’s stock valued at $1,732,000 after purchasing an additional 4,034 shares in the last quarter. Keybank National Association OH purchased a new stake in shares of Jabil during the 4th quarter worth approximately $214,000. Principal Financial Group Inc. boosted its holdings in shares of Jabil by 4.4% in the 4th quarter. Principal Financial Group Inc. now owns 143,266 shares of the technology company’s stock valued at $20,616,000 after buying an additional 5,993 shares in the last quarter. Apollon Wealth Management LLC purchased a new position in shares of Jabil in the 4th quarter valued at $272,000. Finally, LPL Financial LLC raised its stake in Jabil by 23.5% during the 4th quarter. LPL Financial LLC now owns 40,748 shares of the technology company’s stock worth $5,864,000 after acquiring an additional 7,747 shares in the last quarter. 93.39% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Jabil

In related news, Chairman Mark T. Mondello sold 20,000 shares of the company’s stock in a transaction on Friday, April 11th. The stock was sold at an average price of $131.56, for a total transaction of $2,631,200.00. Following the transaction, the chairman now owns 1,730,192 shares of the company’s stock, valued at $227,624,059.52. This represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Dastoor sold 10,000 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $169.90, for a total value of $1,699,000.00. Following the completion of the transaction, the chief executive officer now owns 221,693 shares of the company’s stock, valued at $37,665,640.70. The trade was a 4.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 50,000 shares of company stock valued at $7,665,200. Corporate insiders own 1.73% of the company’s stock.

Jabil Stock Up 0.4%

Jabil stock opened at $179.09 on Friday. The stock has a 50 day moving average of $154.43 and a two-hundred day moving average of $150.46. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $180.16. The stock has a market capitalization of $19.22 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.65 and a beta of 1.14. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81.

Jabil (NYSE:JBL) last released its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.83 by $0.11. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The business had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same quarter in the prior year, the business earned $1.68 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. As a group, research analysts expect that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date was Thursday, May 15th. Jabil’s dividend payout ratio is presently 7.66%.

Analyst Ratings Changes

JBL has been the subject of several research analyst reports. The Goldman Sachs Group upped their price objective on shares of Jabil from $165.00 to $188.00 and gave the company a “buy” rating in a research note on Tuesday. Barclays upped their target price on Jabil from $184.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday. Wall Street Zen raised Jabil from a “hold” rating to a “buy” rating in a research report on Monday, May 19th. UBS Group boosted their price objective on Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Jabil from $175.00 to $154.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $169.17.

Jabil Profile

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