Kovitz Investment Group Partners LLC Sells 15,501 Shares of Jabil Inc. (NYSE:JBL)

Kovitz Investment Group Partners LLC lowered its position in Jabil Inc. (NYSE:JBL - Free Report) by 24.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 47,100 shares of the technology company's stock after selling 15,501 shares during the period. Kovitz Investment Group Partners LLC's holdings in Jabil were worth $4,152,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Hennessy Advisors Inc. purchased a new stake in Jabil in the 1st quarter worth $6,686,000. B. Riley Wealth Advisors Inc. lifted its stake in Jabil by 7.4% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 24,537 shares of the technology company's stock worth $1,673,000 after purchasing an additional 1,697 shares in the last quarter. Archer Investment Corp purchased a new stake in Jabil in the 1st quarter worth $78,000. Laffer Tengler Investments purchased a new stake in Jabil in the 4th quarter worth $223,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in Jabil in the 4th quarter worth $108,000. Institutional investors own 91.90% of the company's stock.

Shares of NYSE:JBL opened at $105.47 on Friday. The company has a market capitalization of $13.80 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 1.10 and a beta of 1.47. Jabil Inc. has a 12 month low of $55.26 and a 12 month high of $115.25. The firm's 50-day moving average is $107.88 and its 200 day moving average is $92.41. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 1.05.

Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings results on Thursday, June 15th. The technology company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.87 by $0.12. The company had revenue of $8.48 billion for the quarter, compared to the consensus estimate of $8.20 billion. Jabil had a net margin of 2.77% and a return on equity of 39.61%. The firm's revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.52 EPS. Research analysts predict that Jabil Inc. will post 7.94 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Tuesday, August 15th will be paid a $0.08 dividend. The ex-dividend date is Monday, August 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.30%. Jabil's dividend payout ratio is currently 4.51%.

In other Jabil news, Director Anousheh Ansari sold 3,000 shares of the company's stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $108.61, for a total value of $325,830.00. Following the transaction, the director now directly owns 38,000 shares in the company, valued at approximately $4,127,180. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.75% of the company's stock.

Several analysts have commented on JBL shares. Credit Suisse Group boosted their price target on shares of Jabil from $110.00 to $125.00 in a research note on Friday, June 16th. StockNews.com assumed coverage on shares of Jabil in a research report on Friday, August 18th. They set a "hold" rating on the stock. Stifel Nicolaus upped their target price on shares of Jabil from $90.00 to $105.00 in a research report on Monday, June 12th. VNET Group restated a "maintains" rating on shares of Jabil in a research report on Friday, June 16th. Finally, Bank of America upped their target price on shares of Jabil from $91.00 to $108.00 in a research report on Monday, June 12th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Jabil has a consensus rating of "Moderate Buy" and a consensus target price of $99.88.

Check Out Our Latest Stock Analysis on Jabil

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).

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