Patriot Investment Management Group Inc. Sells 1,089 Shares of Jabil Inc. (NYSE:JBL)

Patriot Investment Management Group Inc. decreased its holdings in shares of Jabil Inc. (NYSE:JBL) by 19.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,434 shares of the technology company’s stock after selling 1,089 shares during the period. Patriot Investment Management Group Inc.’s holdings in Jabil were worth $638,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of Jabil during the third quarter valued at approximately $32,000. Brooklyn Investment Group bought a new position in Jabil in the third quarter valued at about $39,000. Matrix Trust Co boosted its position in Jabil by 135.4% in 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 during the last quarter. Armstrong Advisory Group Inc. grew its stake 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 valued at $51,000 after purchasing an additional 228 shares during the period. Finally, Sound Income Strategies LLC increased 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 valued at $58,000 after purchasing an additional 435 shares during the last quarter. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Insider Buying and Selling at Jabil

In other Jabil news, EVP Frederic E. Mccoy sold 4,000 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $149.81, for a total value of $599,240.00. Following the completion of the sale, the executive vice president now directly owns 138,472 shares in the company, valued at approximately $20,744,490.32. This trade represents a 2.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $151.30, for a total value of $3,026,000.00. Following the sale, the director now owns 119,108 shares in the company, valued at $18,021,040.40. The trade was a 14.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,038 shares of company stock valued at $5,579,666. Company insiders own 1.73% of the company’s stock.

Jabil Price Performance

Shares of JBL stock opened at $171.37 on Friday. The stock has a 50 day moving average price of $143.58 and a 200 day moving average price of $124.78. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $171.55. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. The firm has a market capitalization of $18.71 billion, a P/E ratio of 16.43, a P/E/G ratio of 1.68 and a beta of 1.23.

Jabil (NYSE:JBL) last issued its earnings results on Wednesday, December 18th. The technology company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.12. The business 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 business’s revenue for the quarter was down 16.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.60 EPS. As a group, sell-side analysts predict that Jabil Inc. will post 8.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on JBL shares. Barclays boosted their target price on shares of 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 raised their target price on Jabil from $136.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. StockNews.com upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday. UBS Group boosted their target price on Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Finally, Stifel Nicolaus restated a “buy” rating and set a $160.00 price target (up previously from $150.00) on shares of Jabil in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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).