Legacy Capital Group California Inc. Increases Stock Holdings in Jabil Inc. (NYSE:JBL)

Legacy Capital Group California Inc. grew its position in Jabil Inc. (NYSE:JBL) by 28.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,757 shares of the technology company’s stock after acquiring an additional 1,266 shares during the period. Legacy Capital Group California Inc.’s holdings in Jabil were worth $690,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC purchased a new stake in Jabil during the second quarter worth about $28,000. ORG Partners LLC acquired a new stake in shares of Jabil in the 1st quarter worth approximately $29,000. Innealta Capital LLC purchased a new position in Jabil in the 2nd quarter valued at approximately $31,000. Family Firm Inc. purchased a new position in Jabil in the 2nd quarter valued at approximately $37,000. Finally, Matrix Trust Co boosted its position in Jabil by 135.4% during the third quarter. Matrix Trust Co now owns 372 shares of the technology company’s stock worth $45,000 after purchasing an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Jabil Stock Up 1.7 %

Shares of NYSE JBL opened at $125.03 on Friday. The stock has a market capitalization of $14.18 billion, a PE ratio of 11.38, a P/E/G ratio of 1.46 and a beta of 1.25. 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 firm has a fifty day moving average of $113.90 and a 200-day moving average of $115.19. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $156.94.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.22 by $0.08. The company had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.59 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The firm’s revenue was down 17.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.34 earnings per share. On average, analysts anticipate that Jabil Inc. will post 7.84 EPS for the current year.

Jabil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Friday, November 15th. Jabil’s payout ratio is 2.91%.

Insider Activity at Jabil

In other news, EVP Frederic E. Mccoy sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was 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 directly owns 108,753 shares in the company, valued at $12,908,981.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Jabil news, EVP Frederic E. Mccoy sold 4,000 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 108,753 shares of the company’s stock, valued at $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 is available at the SEC website. Also, EVP Matthew Crowley sold 1,380 shares of Jabil stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $125.83, for a total value of $173,645.40. Following the completion of the transaction, the executive vice president now owns 18,568 shares of the company’s stock, valued at $2,336,411.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,651 shares of company stock worth $929,005. 2.62% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Stifel Nicolaus raised their price target on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. reduced their price target on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Barclays raised their price objective on shares of Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Finally, Bank of America increased their target price on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Jabil presently has an average rating of “Moderate Buy” and a consensus target price of $143.50.

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).