Venturi Wealth Management LLC Reduces Stock Position in Jabil Inc. (NYSE:JBL)

Venturi Wealth Management LLC cut its stake in Jabil Inc. (NYSE:JBL) by 10.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 810 shares of the technology company’s stock after selling 92 shares during the period. Venturi Wealth Management LLC’s holdings in Jabil were worth $117,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in Jabil in the third quarter valued at about $32,000. GHP Investment Advisors Inc. purchased a new position in Jabil in the fourth quarter valued at about $43,000. Brooklyn Investment Group purchased a new position in Jabil in the third quarter valued at about $39,000. Allworth Financial LP increased its holdings in Jabil by 38.9% in the fourth quarter. Allworth Financial LP now owns 432 shares of the technology company’s stock valued at $62,000 after buying an additional 121 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Jabil by 30.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 466 shares of the technology company’s stock valued at $67,000 after buying an additional 109 shares in the last quarter. 93.39% of the stock is owned by hedge funds and other institutional investors.

Jabil Stock Down 2.2 %

JBL stock opened at $162.54 on Friday. The stock has a market capitalization of $17.75 billion, a P/E ratio of 15.58, a PEG ratio of 1.65 and a beta of 1.23. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. Jabil Inc. has a one year low of $95.85 and a one year high of $174.80. The company has a 50 day moving average price of $157.22 and a two-hundred day moving average price of $132.95.

Jabil (NYSE:JBL) last released its earnings results on Wednesday, December 18th. The technology company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.88 by $0.12. The firm had revenue of $6.99 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company earned $2.60 EPS. As a group, sell-side analysts expect that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Announces Dividend

The company 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 annualized dividend and a yield of 0.20%. Jabil’s payout ratio is currently 3.07%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on JBL. UBS Group increased their price target on shares of Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. The Goldman Sachs Group raised their price objective on shares of Jabil from $136.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Stifel Nicolaus reissued a “buy” rating and set a $160.00 price objective (up from $150.00) on shares of Jabil in a research note on Thursday, December 19th. Barclays raised their price objective on shares of Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Finally, StockNews.com cut shares of Jabil from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.17.

Insider Activity

In other news, Director Christopher S. Holland sold 3,400 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $162.27, for a total transaction of $551,718.00. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Frederic E. Mccoy sold 4,000 shares of the business’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 of the company’s stock, valued at $20,744,490.32. This represents a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,400 shares of company stock valued at $12,804,458 in the last ninety days. Company insiders own 1.73% of the company’s stock.

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).