Highland Capital Management LLC Invests $239,000 in Jabil Inc. (NYSE:JBL)

Highland Capital Management LLC acquired a new stake in Jabil Inc. (NYSE:JBL) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,991 shares of the technology company’s stock, valued at approximately $239,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BayBridge Capital Group LLC increased its holdings in Jabil by 4.5% in the third quarter. BayBridge Capital Group LLC now owns 9,436 shares of the technology company’s stock valued at $1,131,000 after purchasing an additional 409 shares during the period. Mediolanum International Funds Ltd increased its holdings in Jabil by 4.9% in the third quarter. Mediolanum International Funds Ltd now owns 76,102 shares of the technology company’s stock valued at $9,295,000 after purchasing an additional 3,548 shares during the period. Legacy Capital Group California Inc. increased its holdings in Jabil by 28.2% in the third quarter. Legacy Capital Group California Inc. now owns 5,757 shares of the technology company’s stock valued at $690,000 after purchasing an additional 1,266 shares during the period. Assenagon Asset Management S.A. increased its holdings in Jabil by 7.3% in the third quarter. Assenagon Asset Management S.A. now owns 157,315 shares of the technology company’s stock valued at $18,851,000 after purchasing an additional 10,724 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its position in Jabil by 16.4% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 6,674 shares of the technology company’s stock valued at $800,000 after acquiring an additional 942 shares during the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Jabil Price Performance

JBL stock opened at $124.72 on Monday. The stock has a market capitalization of $14.15 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25. The company’s 50-day moving average is $114.27 and its 200-day moving average is $114.79. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94.

Jabil (NYSE:JBL) last released its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.08. The company had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.59 billion. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The business’s revenue was down 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.34 EPS. Equities research analysts expect that Jabil Inc. will post 7.84 EPS for the current fiscal year.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be given a $0.08 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.32 annualized dividend and a yield of 0.26%. Jabil’s payout ratio is 2.90%.

Wall Street Analyst Weigh In

A number of brokerages have commented on JBL. Stifel Nicolaus upped their price target on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Barclays upped their price target on shares of Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Bank of America upped their price target on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, JPMorgan Chase & Co. cut their price target on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Jabil currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.50.

Insider Activity at Jabil

In related news, EVP Frederic E. Mccoy sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total value of $474,800.00. Following the transaction, the executive vice president now owns 108,753 shares of the company’s stock, valued at approximately $12,908,981.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Jabil news, EVP Matthew Crowley sold 2,271 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $123.54, for a total value of $280,559.34. Following the completion of the sale, the executive vice president now owns 15,564 shares in the company, valued at approximately $1,922,776.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Frederic E. Mccoy sold 4,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total transaction of $474,800.00. Following the completion of the sale, the executive vice president now owns 108,753 shares of the company’s stock, valued at approximately $12,908,981.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,651 shares of company stock valued at $929,005. 2.62% of the stock is owned by corporate insiders.

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).