Davis Investment Partners LLC Invests $1.43 Million in Jabil Inc. (NYSE:JBL)

Davis Investment Partners LLC purchased a new stake in shares of Jabil Inc. (NYSE:JBL) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 9,314 shares of the technology company’s stock, valued at approximately $1,433,000.

Several other hedge funds have also bought and sold shares of JBL. Capital Performance Advisors LLP purchased a new position in shares of Jabil during the third quarter valued at approximately $32,000. Brooklyn Investment Group purchased a new position in Jabil during the third quarter valued at $39,000. Matrix Trust Co boosted its holdings in Jabil by 135.4% in the third quarter. Matrix Trust Co now owns 372 shares of the technology company’s stock worth $45,000 after acquiring an additional 214 shares in the last quarter. Armstrong Advisory Group Inc. grew its stake 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 acquiring an additional 228 shares during the last quarter. Finally, Sound Income Strategies LLC increased its holdings in shares of Jabil by 945.7% during the third quarter. Sound Income Strategies LLC now owns 481 shares of the technology company’s stock valued at $58,000 after acquiring an additional 435 shares in the last quarter. Institutional investors own 93.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Stifel Nicolaus reissued a “buy” rating and set a $160.00 price objective (up from $150.00) on shares of Jabil in a research report on Thursday, December 19th. Barclays increased their price target on shares of Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Bank of America boosted their price objective on shares of Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 27th. StockNews.com downgraded Jabil from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group boosted their price target on Jabil from $136.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $153.17.

Insider Activity at Jabil

In other news, Director Steven A. Raymund sold 20,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 139,108 shares in the company, valued at approximately $17,346,767.60. This represents a 12.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Frederic E. Mccoy sold 4,000 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $149.81, for a total transaction of $599,240.00. Following the sale, the executive vice president now directly owns 138,472 shares in the company, valued at approximately $20,744,490.32. The trade was a 2.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,689 shares of company stock worth $5,501,871. 1.73% of the stock is owned by corporate insiders.

Jabil Stock Performance

NYSE:JBL traded down $0.42 on Monday, hitting $153.46. The stock had a trading volume of 1,025,991 shares, compared to its average volume of 1,328,566. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. The stock has a market cap 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 business’s 50-day simple moving average is $138.23 and its two-hundred day simple moving average is $121.60. Jabil Inc. has a 52-week low of $95.85 and a 52-week 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, beating analysts’ consensus estimates of $1.88 by $0.12. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The firm had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $6.61 billion. During the same quarter in the previous year, the firm posted $2.60 EPS. The company’s revenue for the quarter was down 16.6% compared to the same quarter last year. As a group, research analysts predict that Jabil Inc. will post 7.89 earnings per share for the current year.

Jabil Announces Dividend

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

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).