Davis Investment Partners LLC Purchases New Shares in Jabil Inc. (NYSE:JBL)

Davis Investment Partners LLC acquired a new position in shares of Jabil Inc. (NYSE:JBL) in the 4th quarter, Holdings Channel.com reports. The fund acquired 9,314 shares of the technology company’s stock, valued at approximately $1,433,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Jabil in the 3rd quarter worth about $32,000. Brooklyn Investment Group bought a new stake in Jabil in the third quarter worth about $39,000. Matrix Trust Co boosted its position in shares of Jabil by 135.4% during the third quarter. Matrix Trust Co now owns 372 shares of the technology company’s stock valued at $45,000 after buying an additional 214 shares during the period. Armstrong Advisory Group Inc. raised its holdings in shares of Jabil by 114.0% in the third quarter. Armstrong Advisory Group Inc. now owns 428 shares of the technology company’s stock worth $51,000 after buying an additional 228 shares during the period. Finally, Sound Income Strategies LLC lifted its stake in shares of Jabil by 945.7% during the 3rd quarter. Sound Income Strategies LLC now owns 481 shares of the technology company’s stock worth $58,000 after acquiring an additional 435 shares during the last quarter. 93.39% of the stock is owned by hedge funds and other institutional investors.

Jabil Stock Down 0.3 %

JBL stock traded down $0.42 during trading on Monday, reaching $153.46. 1,025,991 shares of the company traded hands, compared to its average volume of 1,328,566. The company has a market capitalization of $17.14 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 1.58 and a beta of 1.23. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.72 and a current ratio of 1.09. The business has a 50 day simple moving average of $138.23 and a 200 day simple moving average of $121.60. Jabil Inc. has a 12 month low of $95.85 and a 12 month high of $156.94.

Jabil (NYSE:JBL) last issued its quarterly earnings data on Wednesday, December 18th. The technology company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.12. The firm had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $6.61 billion. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The company’s quarterly revenue was down 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.60 EPS. On average, equities research analysts anticipate that Jabil Inc. will post 7.89 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.21%. The ex-dividend date was Friday, November 15th. Jabil’s dividend payout ratio is currently 3.07%.

Insider Transactions at Jabil

In other news, SVP Francis Mckay sold 11,755 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly owns 41,507 shares of the company’s stock, valued at approximately $5,051,816.97. This represents a 22.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $124.70, for a total transaction of $2,494,000.00. Following the transaction, the director now directly owns 139,108 shares of the company’s stock, valued at approximately $17,346,767.60. This trade represents a 12.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,689 shares of company stock worth $5,501,871. Insiders own 1.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on JBL shares. The Goldman Sachs Group increased their target price on Jabil from $136.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Bank of America upped their target price on shares of Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. UBS Group increased their price objective on Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Stifel Nicolaus reaffirmed a “buy” rating and set a $160.00 target price (up from $150.00) on shares of Jabil in a research report on Thursday, December 19th. Finally, Barclays raised their price target on Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Jabil presently has an average rating of “Moderate Buy” and a consensus target price of $153.17.

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).