Impact Partnership Wealth LLC Reduces Stock Position in Jabil Inc. (NYSE:JBL)

Impact Partnership Wealth LLC reduced its stake in shares of Jabil Inc. (NYSE:JBL) by 3.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,527 shares of the technology company’s stock after selling 88 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Jabil were worth $364,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in JBL. Van ECK Associates Corp grew its stake in Jabil by 6.0% in the 3rd quarter. Van ECK Associates Corp now owns 1,589 shares of the technology company’s stock worth $195,000 after acquiring an additional 90 shares in the last quarter. Verdence Capital Advisors LLC boosted its holdings in shares of Jabil by 2.9% in the third quarter. Verdence Capital Advisors LLC now owns 3,234 shares of the technology company’s stock valued at $387,000 after purchasing an additional 91 shares during the period. Lifestyle Asset Management Inc. grew its stake in Jabil by 1.0% in the fourth quarter. Lifestyle Asset Management Inc. now owns 9,618 shares of the technology company’s stock worth $1,384,000 after purchasing an additional 95 shares in the last quarter. Gateway Investment Advisers LLC increased its holdings in Jabil by 3.5% during the 3rd quarter. Gateway Investment Advisers LLC now owns 3,139 shares of the technology company’s stock worth $376,000 after purchasing an additional 105 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its position in Jabil by 30.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 466 shares of the technology company’s stock valued at $67,000 after purchasing an additional 109 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on JBL. Bank of America raised their price target on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 27th. UBS Group boosted their price target on shares of Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. The Goldman Sachs Group increased their price objective on shares of Jabil from $136.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Stifel Nicolaus reissued 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, StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $153.17.

Jabil Price Performance

NYSE JBL opened at $173.26 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $18.92 billion, a P/E ratio of 16.61, a P/E/G ratio of 1.68 and a beta of 1.23. Jabil Inc. has a 12-month low of $95.85 and a 12-month high of $174.80. The firm’s fifty day simple moving average is $144.48 and its two-hundred day simple moving average is $125.22.

Jabil (NYSE:JBL) last released its quarterly earnings results on Wednesday, December 18th. The technology company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.12. The company had revenue of $6.99 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The firm’s revenue was down 16.6% compared to the same quarter last year. During the same period last year, the business posted $2.60 earnings per share. Analysts forecast that Jabil Inc. will post 8.03 EPS 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 given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.18%. The ex-dividend date of this dividend is Tuesday, February 18th. Jabil’s dividend payout ratio is presently 3.07%.

Insiders Place Their Bets

In other Jabil news, EVP Frederic E. Mccoy sold 4,283 shares of Jabil stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $122.28, for a total transaction of $523,725.24. Following the completion of the sale, the executive vice president now directly owns 142,472 shares in the company, valued at approximately $17,421,476.16. The trade was a 2.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $151.30, for a total transaction of $3,026,000.00. Following the transaction, the director now directly owns 119,108 shares of the company’s stock, valued at approximately $18,021,040.40. This trade represents a 14.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,038 shares of company stock valued at $5,579,666. Insiders own 1.73% of the company’s stock.

About Jabil

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).