North Growth Management Ltd. Has $40.85 Million Holdings in Jabil Inc. (NYSE:JBL)

North Growth Management Ltd. cut its stake in Jabil Inc. (NYSE:JBL) by 1.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 284,000 shares of the technology company’s stock after selling 5,000 shares during the period. Jabil accounts for 7.8% of North Growth Management Ltd.’s portfolio, making the stock its biggest position. North Growth Management Ltd.’s holdings in Jabil were worth $40,851,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of Jabil in the 3rd quarter valued at about $32,000. Brooklyn Investment Group bought a new stake in Jabil in the third quarter worth approximately $39,000. GHP Investment Advisors Inc. acquired a new position in Jabil in the fourth quarter valued at approximately $43,000. Armstrong Advisory Group Inc. boosted its holdings in shares of Jabil by 114.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 428 shares of the technology company’s stock worth $51,000 after buying an additional 228 shares in the last quarter. Finally, Sound Income Strategies LLC grew its position in shares of Jabil by 945.7% during the 3rd quarter. Sound Income Strategies LLC now owns 481 shares of the technology company’s stock worth $58,000 after buying an additional 435 shares during the period. Institutional investors and hedge funds own 93.39% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Jabil Stock Down 0.2 %

JBL stock opened at $165.36 on Friday. The stock’s 50 day moving average is $150.63 and its 200-day moving average is $128.70. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $174.80. The firm has a market capitalization of $18.05 billion, a PE ratio of 15.85, a P/E/G ratio of 1.64 and a beta of 1.23. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

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

Jabil Dividend Announcement

The company also recently disclosed 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 of this dividend is Tuesday, February 18th. This represents a $0.32 annualized dividend and a yield of 0.19%. Jabil’s dividend payout ratio (DPR) is 3.07%.

Insiders Place Their Bets

In other Jabil news, EVP Frederic E. Mccoy sold 4,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $149.81, for a total value of $599,240.00. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John C. Plant sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $172.55, for a total transaction of $8,627,500.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 77,400 shares of company stock valued at $12,804,458 in the last 90 days. 1.73% of the stock is currently owned by corporate insiders.

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).