Sawgrass Asset Management LLC Grows Position in Jabil Inc. (NYSE:JBL)

Sawgrass Asset Management LLC grew its stake in shares of Jabil Inc. (NYSE:JBL) by 42.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,503 shares of the technology company’s stock after purchasing an additional 1,039 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Jabil were worth $504,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC purchased a new position in Jabil during the 3rd quarter valued at $471,000. Creative Planning increased its position in Jabil by 33.0% during the 3rd quarter. Creative Planning now owns 46,548 shares of the technology company’s stock valued at $5,578,000 after purchasing an additional 11,538 shares during the period. Vontobel Holding Ltd. increased its position in Jabil by 2.2% during the 3rd quarter. Vontobel Holding Ltd. now owns 5,895 shares of the technology company’s stock valued at $706,000 after purchasing an additional 126 shares during the period. Twelve Points Wealth Management LLC increased its position in Jabil by 7.6% during the 3rd quarter. Twelve Points Wealth Management LLC now owns 17,982 shares of the technology company’s stock valued at $2,155,000 after purchasing an additional 1,268 shares during the period. Finally, Bleakley Financial Group LLC increased its position in Jabil by 35.4% during the 3rd quarter. Bleakley Financial Group LLC now owns 3,203 shares of the technology company’s stock valued at $384,000 after purchasing an additional 838 shares during the period. Institutional investors own 93.39% of the company’s stock.

Jabil Trading Up 0.9 %

JBL stock opened at $168.88 on Thursday. The firm has a fifty day moving average price of $152.54 and a 200 day moving average price of $129.90. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $174.80. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. The firm has a market cap of $18.44 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 1.64 and a beta of 1.23.

Jabil (NYSE:JBL) last posted its earnings results on Wednesday, December 18th. The technology company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 4.71% and a return on equity of 41.87%. Jabil’s revenue for the quarter was down 16.6% compared to the same quarter last year. During the same period last year, the firm posted $2.60 earnings per share. Sell-side analysts anticipate that Jabil Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given 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 dividend payout ratio is presently 3.07%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on JBL. The Goldman Sachs Group boosted their price objective on shares of Jabil from $136.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Barclays raised 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. StockNews.com cut shares of Jabil from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Stifel Nicolaus reiterated a “buy” rating and issued a $160.00 price objective (up previously from $150.00) on shares of Jabil in a research note on Thursday, December 19th. Finally, UBS Group increased their price objective on shares of Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Jabil currently has a consensus rating of “Moderate Buy” and a consensus target price of $153.17.

Insider Transactions at Jabil

In related news, EVP Frederic E. Mccoy sold 4,000 shares of Jabil stock in a transaction dated 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Christopher S. Holland sold 3,400 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $162.27, for a total value of $551,718.00. Following the completion of the transaction, the director now directly owns 12,900 shares of the company’s stock, valued at $2,093,283. The trade was a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,400 shares of company stock worth $12,804,458. 1.73% of the stock is currently owned by insiders.

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).