Tidal Investments LLC Reduces Stock Position in Jabil Inc. (NYSE:JBL)

Tidal Investments LLC trimmed its holdings in Jabil Inc. (NYSE:JBL) by 21.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,463 shares of the technology company’s stock after selling 3,060 shares during the period. Tidal Investments LLC’s holdings in Jabil were worth $1,374,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. HHM Wealth Advisors LLC bought a new position in Jabil during the 2nd quarter valued at $28,000. Innealta Capital LLC bought a new position in shares of Jabil during the second quarter worth about $31,000. Capital Performance Advisors LLP bought a new position in shares of Jabil during the third quarter worth about $32,000. Family Firm Inc. acquired a new position in Jabil in the second quarter worth about $37,000. Finally, Brooklyn Investment Group bought a new stake in Jabil in the third quarter valued at about $39,000. Institutional investors and hedge funds own 93.39% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on JBL shares. Bank of America increased their target price on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 27th. JPMorgan Chase & Co. decreased their price objective on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Stifel Nicolaus boosted their target price on shares of Jabil from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group raised their price target on shares of Jabil from $136.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Barclays boosted their price objective on shares of Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $142.50.

Insider Activity

In other news, EVP Frederic E. Mccoy sold 4,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total value of $474,800.00. Following the completion of the transaction, the executive vice president now directly owns 108,753 shares in the company, valued at $12,908,981.10. This trade represents a 3.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Francis Mckay sold 11,755 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $121.71, for a total value of $1,430,701.05. Following the completion of the sale, the senior vice president now owns 41,507 shares of the company’s stock, valued at $5,051,816.97. This trade represents a 22.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,689 shares of company stock valued at $5,377,431. Company insiders own 1.73% of the company’s stock.

Jabil Stock Up 7.3 %

JBL stock opened at $143.69 on Thursday. The stock has a market cap of $16.05 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.57 and a beta of 1.25. The firm’s 50-day simple moving average is $130.37 and its 200 day simple moving average is $117.96. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $156.94. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 1.66.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Wednesday, December 18th. The technology company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.88 by $0.12. The company had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.61 billion. Jabil had a net margin of 4.81% and a return on equity of 42.64%. Jabil’s revenue was down 16.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.60 earnings per share. As a group, sell-side analysts predict that Jabil Inc. will post 7.89 EPS for the current year.

Jabil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.22%. Jabil’s payout ratio is 2.90%.

About 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).