Sara Bay Financial Trims Position in Jabil Inc. (NYSE:JBL)


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Sara Bay Financial trimmed its position in shares of Jabil Inc. (NYSE:JBL) by 8.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,856 shares of the technology company’s stock after selling 1,699 shares during the period. Jabil makes up about 0.4% of Sara Bay Financial’s holdings, making the stock its 24th biggest holding. Sara Bay Financial’s holdings in Jabil were worth $984,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vantage Consulting Group Inc acquired a new stake in shares of Jabil during the 4th quarter worth $26,000. ForthRight Wealth Management LLC acquired a new stake in shares of Jabil during the 4th quarter worth $49,000. TD Ameritrade Investment Management LLC acquired a new stake in shares of Jabil during the 4th quarter worth $56,000. IFP Advisors Inc increased its holdings in shares of Jabil by 772.7% during the 4th quarter. IFP Advisors Inc now owns 1,405 shares of the technology company’s stock worth $60,000 after buying an additional 1,244 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Jabil during the 4th quarter worth $61,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Several analysts recently issued reports on the company. Stifel Nicolaus increased their price target on Jabil from $51.00 to $55.00 and gave the company a “hold” rating in a report on Tuesday, March 16th. Zacks Investment Research downgraded Jabil from a “buy” rating to a “hold” rating and set a $48.00 price target for the company. in a report on Wednesday, February 17th. Argus increased their price target on Jabil from $52.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, March 17th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on Jabil from $60.00 to $70.00 in a report on Thursday, March 18th. Finally, Royal Bank of Canada increased their price target on Jabil from $38.00 to $44.00 and gave the company a “sector perform” rating in a report on Friday, December 18th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $52.80.

In related news, SVP Sergio Cadavid sold 6,663 shares of the firm’s stock in a transaction that occurred on Friday, March 12th. The shares were sold at an average price of $48.00, for a total value of $319,824.00. Also, Director Thomas A. Sansone sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 13th. The stock was sold at an average price of $54.25, for a total transaction of $1,356,250.00. Following the completion of the transaction, the director now directly owns 204,588 shares of the company’s stock, valued at approximately $11,098,899. The disclosure for this sale can be found here. Insiders sold a total of 136,663 shares of company stock valued at $6,905,074 in the last ninety days. Company insiders own 2.81% of the company’s stock.

NYSE:JBL opened at $53.68 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.02 and a quick ratio of 0.68. Jabil Inc. has a 1-year low of $23.05 and a 1-year high of $54.75. The firm has a 50-day moving average of $49.13 and a two-hundred day moving average of $42.37. The stock has a market cap of $7.99 billion, a P/E ratio of 38.62, a PEG ratio of 0.97 and a beta of 1.32.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Monday, March 15th. The technology company reported $1.27 EPS for the quarter, topping the consensus estimate of $0.95 by $0.32. Jabil had a net margin of 0.78% and a return on equity of 14.01%. The business had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.39 billion. During the same quarter last year, the company posted $0.50 earnings per share. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, equities analysts expect that Jabil Inc. will post 3.82 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 2nd. Shareholders of record on Monday, February 15th were given a $0.08 dividend. The ex-dividend date was Friday, February 12th. This represents a $0.32 annualized dividend and a yield of 0.60%. Jabil’s dividend payout ratio (DPR) is 91.43%.

Jabil Company Profile

Jabil Inc provides manufacturing services and solutions worldwide. The company operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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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Institutional Ownership by Quarter for Jabil (NYSE:JBL)

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