Jabil Inc. (NYSE:JBL) Stake Lessened by Sara Bay Financial

Sara Bay Financial lessened its stake in Jabil Inc. (NYSE:JBL) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,179 shares of the technology company’s stock after selling 203 shares during the period. Jabil comprises about 0.5% of Sara Bay Financial’s investment portfolio, making the stock its 19th largest position. Sara Bay Financial’s holdings in Jabil were worth $1,463,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Meyer Handelman Co. bought a new stake in shares of Jabil in the fourth quarter worth $7,334,000. Davis Investment Partners LLC bought a new stake in shares of Jabil in the fourth quarter worth $1,433,000. Nicola Wealth Management LTD. increased its stake in shares of Jabil by 54.9% in the third quarter. Nicola Wealth Management LTD. now owns 39,500 shares of the technology company’s stock worth $4,733,000 after buying an additional 14,000 shares during the last quarter. Foster & Motley Inc. increased its stake in shares of Jabil by 8.7% in the third quarter. Foster & Motley Inc. now owns 52,173 shares of the technology company’s stock worth $6,252,000 after buying an additional 4,181 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in shares of Jabil by 11.8% in the third quarter. Empowered Funds LLC now owns 145,682 shares of the technology company’s stock worth $17,457,000 after buying an additional 15,413 shares during the last quarter. Institutional investors own 93.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on JBL shares. Bank of America boosted their target price on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 27th. The Goldman Sachs Group boosted their target price on shares of Jabil from $136.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. StockNews.com lowered shares of Jabil from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Barclays upped their price target on shares of Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Finally, Stifel Nicolaus restated a “buy” rating and set a $160.00 price target (up previously from $150.00) on shares of Jabil in a research report on Thursday, December 19th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $153.17.

Insider Buying and Selling

In other Jabil news, Director Steven A. Raymund sold 20,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $124.70, for a total value of $2,494,000.00. Following the completion of the sale, the director now directly owns 139,108 shares of the company’s stock, valued at approximately $17,346,767.60. This represents a 12.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Frederic E. Mccoy sold 4,283 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $122.28, for a total transaction of $523,725.24. Following the completion of the sale, the executive vice president now directly owns 142,472 shares of the company’s stock, valued at $17,421,476.16. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,309 shares of company stock valued at $8,354,226 over the last 90 days. 1.73% of the stock is currently owned by company insiders.

Jabil Price Performance

JBL stock traded up $1.21 during trading on Friday, hitting $162.94. The company had a trading volume of 1,620,731 shares, compared to its average volume of 1,496,248. The firm has a market capitalization of $18.20 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 1.61 and a beta of 1.23. The business has a 50 day moving average of $140.74 and a 200 day moving average of $123.16. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $164.25. 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 posted its quarterly earnings data on Wednesday, December 18th. The technology company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.12. The business had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $6.61 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company’s quarterly revenue was down 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.60 earnings per share. As a group, research analysts predict that Jabil Inc. will post 8.02 earnings per share for the current year.

Jabil Company 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).