Redwood Investment Management LLC Increases Stake in Jabil Inc. (NYSE:JBL)

Redwood Investment Management LLC raised its holdings in shares of Jabil Inc. (NYSE:JBL) by 4.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,220 shares of the technology company’s stock after buying an additional 519 shares during the period. Redwood Investment Management LLC’s holdings in Jabil were worth $1,617,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in JBL. HHM Wealth Advisors LLC purchased a new stake in Jabil during the second quarter valued at approximately $28,000. Innealta Capital LLC purchased a new stake in Jabil during the second quarter valued at approximately $31,000. Capital Performance Advisors LLP purchased a new stake in Jabil during the third quarter valued at approximately $32,000. Family Firm Inc. purchased a new stake in Jabil during the second quarter valued at approximately $37,000. Finally, Brooklyn Investment Group purchased a new stake in Jabil during the third quarter valued at approximately $39,000. 93.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Jabil news, SVP Francis Mckay sold 11,755 shares of the firm’s 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 transaction, the senior vice president now owns 41,507 shares of the company’s stock, valued at approximately $5,051,816.97. This trade represents a 22.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Frederic E. Mccoy sold 4,283 shares of the firm’s stock in a transaction dated 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 owns 142,472 shares in the company, valued at $17,421,476.16. This represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,689 shares of company stock valued at $5,377,431 in the last 90 days. Company insiders own 2.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on JBL. Stifel Nicolaus increased their price objective on shares of Jabil from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays increased their price objective on shares of Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Bank of America increased their price objective on shares of Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. dropped their target price on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Finally, StockNews.com upgraded shares of Jabil from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.17.

Jabil Price Performance

JBL stock opened at $135.81 on Friday. Jabil Inc. has a 52 week low of $95.85 and a 52 week high of $156.94. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. The company has a fifty day simple moving average of $127.66 and a two-hundred day simple moving average of $116.81. The firm has a market capitalization of $15.33 billion, a P/E ratio of 12.32, a price-to-earnings-growth ratio of 1.60 and a beta of 1.25.

Jabil (NYSE:JBL) last released its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.22 by $0.08. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.59 billion. Jabil had a net margin of 4.81% and a return on equity of 42.64%. Jabil’s quarterly revenue was down 17.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.34 earnings per share. Analysts anticipate that Jabil Inc. will post 7.84 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.24%. The ex-dividend date was Friday, November 15th. Jabil’s dividend payout ratio is presently 2.90%.

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).