Trust Asset Management LLC Acquires New Position in Jabil Inc. (NYSE:JBL)

Trust Asset Management LLC acquired a new stake in shares of Jabil Inc. (NYSE:JBL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,475 shares of the technology company’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new stake in shares of Jabil during the 3rd quarter valued at approximately $32,000. Brooklyn Investment Group acquired a new stake in shares of Jabil during the 3rd quarter valued at $39,000. Matrix Trust Co increased its holdings in Jabil by 135.4% in the 3rd 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. Armstrong Advisory Group Inc. grew its holdings in shares of Jabil by 114.0% during the third quarter. Armstrong Advisory Group Inc. now owns 428 shares of the technology company’s stock worth $51,000 after purchasing an additional 228 shares during the last quarter. Finally, Sound Income Strategies LLC increased its stake in shares of Jabil by 945.7% in the third quarter. Sound Income Strategies LLC now owns 481 shares of the technology company’s stock valued at $58,000 after buying an additional 435 shares during the period. 93.39% of the stock is currently owned by institutional investors.

Jabil Stock Performance

Shares of JBL stock opened at $162.94 on Tuesday. 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 Inc. has a 52 week low of $95.85 and a 52 week high of $164.25. The firm has a 50 day moving average of $141.29 and a 200-day moving average of $123.72. The company has a market cap of $17.79 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 1.71 and a beta of 1.23.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Wednesday, December 18th. The technology company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.12. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The firm had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.61 billion. During the same quarter in the prior year, the business earned $2.60 earnings per share. The business’s quarterly revenue was down 16.6% compared to the same quarter last year. On average, equities analysts forecast that Jabil Inc. will post 8.03 earnings per share for the current year.

Insider Transactions at Jabil

In other Jabil news, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $124.70, for a total transaction of $2,494,000.00. Following the transaction, the director now directly owns 139,108 shares in the company, valued at approximately $17,346,767.60. This trade represents a 12.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Francis Mckay sold 11,755 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the completion of the sale, the senior vice president now owns 41,507 shares of the company’s stock, valued at approximately $5,051,816.97. This represents a 22.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,038 shares of company stock valued at $8,073,666 over the last ninety days. 1.73% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on JBL. Bank of America lifted their target price on shares of Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. StockNews.com upgraded shares of Jabil from a “hold” rating to a “buy” rating in a report on Tuesday. The Goldman Sachs Group boosted 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. Barclays raised their target price on Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Finally, UBS Group upped their price target on Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $153.17.

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).