Hennessy Advisors Inc. Decreases Stake in Jabil Inc. (NYSE:JBL)

Hennessy Advisors Inc. lessened its holdings in Jabil Inc. (NYSE:JBL) by 6.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,369 shares of the technology company’s stock after selling 1,337 shares during the period. Hennessy Advisors Inc.’s holdings in Jabil were worth $2,931,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. raised its stake in shares of Jabil by 12,251.7% during the 3rd quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock worth $264,391,000 after purchasing an additional 2,188,521 shares during the period. Point72 Asset Management L.P. purchased a new stake in Jabil during the second quarter worth about $78,660,000. AQR Capital Management LLC raised its position in Jabil by 195.8% in the second quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock worth $115,404,000 after acquiring an additional 702,199 shares during the period. Two Sigma Advisers LP boosted its stake in Jabil by 406.5% in the third quarter. Two Sigma Advisers LP now owns 722,800 shares of the technology company’s stock valued at $86,613,000 after acquiring an additional 580,100 shares during the last quarter. Finally, FMR LLC grew its position in shares of Jabil by 11.3% during the 3rd quarter. FMR LLC now owns 5,116,308 shares of the technology company’s stock valued at $613,087,000 after acquiring an additional 520,672 shares during the period. 93.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on JBL shares. StockNews.com cut shares of Jabil from a “buy” rating to a “hold” rating in a report on Monday, January 13th. UBS Group boosted their target price on Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Barclays increased their price target on Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. The Goldman Sachs Group lifted their price objective on Jabil from $136.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Bank of America upped their price objective on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 27th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $153.17.

Jabil Stock Performance

Shares of JBL opened at $162.94 on Friday. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $164.25. The stock’s 50-day simple moving average is $140.74 and its 200 day simple moving average is $123.16. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. The stock has a market capitalization of $17.79 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 1.61 and a beta of 1.23.

Jabil (NYSE:JBL) last released its quarterly earnings data on Wednesday, December 18th. The technology company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.12. The company had revenue of $6.99 billion during the quarter, compared to analyst estimates of $6.61 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. Jabil’s revenue was down 16.6% compared to the same quarter last year. During the same period last year, the business earned $2.60 earnings per share. Research analysts forecast that Jabil Inc. will post 8.02 EPS for the current fiscal year.

Insider Activity

In other Jabil news, EVP Frederic E. Mccoy sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $149.81, for a total value of $599,240.00. Following the completion of the transaction, the executive vice president now owns 138,472 shares of the company’s stock, valued at $20,744,490.32. The trade was a 2.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $151.30, for a total transaction of $3,026,000.00. Following the sale, the director now owns 119,108 shares in the company, valued at approximately $18,021,040.40. This trade represents a 14.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,309 shares of company stock worth $8,354,226 in the last three months. Corporate insiders own 1.73% of the company’s stock.

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).