Penobscot Investment Management Company Inc. Invests $217,000 in Jabil Inc. (NYSE:JBL)

Penobscot Investment Management Company Inc. purchased a new stake in shares of Jabil Inc. (NYSE:JBL) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,510 shares of the technology company’s stock, valued at approximately $217,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp bought a new stake in shares of Jabil during the 4th quarter valued at $29,000. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Jabil by 2.8% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 136,929 shares of the technology company’s stock worth $19,704,000 after acquiring an additional 3,700 shares in the last quarter. Florida Financial Advisors LLC purchased a new stake in Jabil in the fourth quarter worth about $948,000. Signature Estate & Investment Advisors LLC increased its stake in shares of Jabil by 3.5% during the fourth quarter. Signature Estate & Investment Advisors LLC now owns 17,501 shares of the technology company’s stock valued at $2,518,000 after purchasing an additional 587 shares in the last quarter. Finally, M.D. Sass LLC lifted its holdings in shares of Jabil by 1.3% during the fourth quarter. M.D. Sass LLC now owns 417,980 shares of the technology company’s stock valued at $60,147,000 after purchasing an additional 5,543 shares during the last quarter. 93.39% of the stock is owned by hedge funds and other institutional investors.

Jabil Trading Down 3.0 %

Jabil stock opened at $143.88 on Thursday. Jabil Inc. has a one year low of $95.85 and a one year high of $174.80. The business’s fifty day moving average is $155.44 and its 200 day moving average is $139.09. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72. The stock has a market capitalization of $15.71 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 1.65 and a beta of 1.19.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.11. The firm had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.40 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 .6% on a year-over-year basis. During the same period in the previous year, the business posted $1.68 earnings per share. On average, sell-side analysts predict that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.22%. Jabil’s payout ratio is 7.66%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Barclays raised their price objective on Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Stifel Nicolaus restated a “buy” rating and set a $160.00 price target (up from $150.00) on shares of Jabil in a report on Thursday, December 19th. UBS Group upped their price target on shares of Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. JPMorgan Chase & Co. raised their price objective on shares of Jabil from $172.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Finally, StockNews.com upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $167.50.

Insider Buying and Selling

In related news, Director Christopher S. Holland sold 3,400 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $162.27, for a total transaction of $551,718.00. Following the completion of the sale, the director now directly owns 12,900 shares in the company, valued at approximately $2,093,283. The trade was a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Frederic E. Mccoy sold 4,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $149.81, for a total transaction of $599,240.00. Following the completion of the transaction, the executive vice president now 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 disclosure for this sale can be found here. Insiders sold 77,400 shares of company stock valued at $12,804,458 over the last 90 days. Company insiders own 1.73% of the company’s stock.

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).