Cromwell Holdings LLC Grows Stake in Jabil Inc. (NYSE:JBL)

Cromwell Holdings LLC raised its stake in Jabil Inc. (NYSE:JBL) by 412.7% during the 4th quarter, HoldingsChannel reports. The firm owned 364 shares of the technology company’s stock after acquiring an additional 293 shares during the quarter. Cromwell Holdings LLC’s holdings in Jabil were worth $52,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Meyer Handelman Co. purchased a new position in Jabil in the fourth quarter valued at about $7,334,000. Davis Investment Partners LLC purchased a new stake in shares of Jabil during the fourth quarter worth about $1,433,000. Nicola Wealth Management LTD. increased its position in shares of Jabil by 54.9% during the third quarter. Nicola Wealth Management LTD. now owns 39,500 shares of the technology company’s stock worth $4,733,000 after acquiring an additional 14,000 shares during the last quarter. Merit Financial Group LLC purchased a new stake in shares of Jabil during the fourth quarter worth about $235,000. Finally, Foster & Motley Inc. increased its position in shares of Jabil by 8.7% during the third quarter. Foster & Motley Inc. now owns 52,173 shares of the technology company’s stock worth $6,252,000 after acquiring an additional 4,181 shares during the last quarter. 93.39% of the stock is owned by hedge funds and other institutional investors.

Jabil Stock Down 1.7 %

Shares of Jabil stock opened at $166.20 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The firm has a market cap of $18.15 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.69 and a beta of 1.23. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $174.80. The business has a 50-day moving average price of $156.68 and a 200 day moving average price of $132.27.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Wednesday, December 18th. The technology company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.12. The firm had revenue of $6.99 billion during the quarter, compared to analyst estimates of $6.61 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. Jabil’s quarterly revenue was down 16.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.60 earnings per share. On average, sell-side analysts forecast that Jabil Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a $0.08 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.19%. Jabil’s payout ratio is currently 3.07%.

Insider Buying and Selling at Jabil

In other Jabil news, EVP Frederic E. Mccoy sold 4,000 shares of Jabil stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $149.81, for a total value of $599,240.00. Following the completion of the transaction, the executive vice president now directly owns 138,472 shares in the company, valued at $20,744,490.32. The trade was a 2.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John C. Plant sold 50,000 shares of Jabil stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $172.55, for a total value of $8,627,500.00. Following the completion of the transaction, the director now owns 5,900 shares of the company’s stock, valued at approximately $1,018,045. The trade was a 89.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 77,400 shares of company stock worth $12,804,458 over the last ninety days. Company insiders own 1.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on JBL shares. Barclays lifted their target price on Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. 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. StockNews.com lowered Jabil from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group lifted their target price on Jabil from $136.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, UBS Group lifted their target price on Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Jabil has an average rating of “Moderate Buy” and an average target price of $153.17.

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).