CCM Investment Advisers LLC Has $20.04 Million Stake in Jabil Inc. (NYSE:JBL)

CCM Investment Advisers LLC lessened its stake in shares of Jabil Inc. (NYSE:JBL) by 14.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 157,332 shares of the technology company’s stock after selling 25,956 shares during the period. Jabil comprises approximately 2.5% of CCM Investment Advisers LLC’s investment portfolio, making the stock its 8th biggest holding. CCM Investment Advisers LLC owned approximately 0.12% of Jabil worth $20,044,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wells Fargo & Company MN raised its stake in Jabil by 13.0% in the fourth quarter. Wells Fargo & Company MN now owns 154,314 shares of the technology company’s stock worth $19,660,000 after buying an additional 17,766 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in Jabil by 36.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,339,559 shares of the technology company’s stock worth $170,660,000 after buying an additional 359,818 shares in the last quarter. Lecap Asset Management Ltd. bought a new position in Jabil in the fourth quarter worth approximately $1,146,000. Hsbc Holdings PLC raised its stake in Jabil by 197.9% in the fourth quarter. Hsbc Holdings PLC now owns 88,436 shares of the technology company’s stock worth $11,268,000 after buying an additional 58,752 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in Jabil in the fourth quarter worth approximately $3,733,000. Institutional investors own 93.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Barclays reduced their price objective on shares of Jabil from $151.00 to $149.00 and set an “overweight” rating for the company in a research note on Monday, March 18th. Argus lowered shares of Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. StockNews.com raised shares of Jabil from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Finally, The Goldman Sachs Group lifted their price target on shares of Jabil from $141.00 to $161.00 and gave the stock a “buy” rating in a report on Monday, March 4th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $147.29.

Jabil Price Performance

Shares of JBL opened at $119.48 on Monday. The firm has a market capitalization of $14.41 billion, a PE ratio of 10.26, a price-to-earnings-growth ratio of 1.50 and a beta of 1.35. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.17 and a quick ratio of 0.72. Jabil Inc. has a 1-year low of $99.99 and a 1-year high of $156.94. The company’s fifty day moving average price is $120.79 and its 200-day moving average price is $127.88.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Friday, March 15th. The technology company reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.01). The company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.91 billion. Jabil had a net margin of 4.70% and a return on equity of 39.47%. On average, equities research analysts predict that Jabil Inc. will post 7.74 EPS for the current year.

Jabil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Tuesday, May 14th. Jabil’s dividend payout ratio (DPR) is presently 2.75%.

Insider Activity

In other news, EVP Gerald Creadon sold 3,000 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $135.62, for a total transaction of $406,860.00. Following the sale, the executive vice president now directly owns 65,434 shares of the company’s stock, valued at $8,874,159.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Jabil news, Chairman Mark T. Mondello sold 50,000 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $126.09, for a total transaction of $6,304,500.00. Following the sale, the chairman now directly owns 1,809,194 shares of the company’s stock, valued at approximately $228,121,271.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gerald Creadon sold 3,000 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $135.62, for a total value of $406,860.00. Following the sale, the executive vice president now directly owns 65,434 shares in the company, valued at $8,874,159.08. The disclosure for this sale can be found here. Insiders have sold 75,877 shares of company stock valued at $9,824,383 over the last ninety days. 2.62% of the stock is currently owned by insiders.

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).