Atria Investments Inc Trims Position in Jabil Inc. (NYSE:JBL)

Atria Investments Inc lessened its stake in shares of Jabil Inc. (NYSE:JBL) by 23.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,109 shares of the technology company’s stock after selling 961 shares during the quarter. Atria Investments Inc’s holdings in Jabil were worth $447,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Cypress Capital Group purchased a new position in Jabil during the 4th quarter valued at about $975,000. Victory Capital Management Inc. boosted its position in shares of Jabil by 50.8% during the 4th quarter. Victory Capital Management Inc. now owns 627,041 shares of the technology company’s stock valued at $90,231,000 after acquiring an additional 211,168 shares during the last quarter. Keybank National Association OH bought a new stake in shares of Jabil during the 4th quarter valued at about $214,000. Charles Schwab Investment Management Inc. boosted its position in shares of Jabil by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,045,213 shares of the technology company’s stock valued at $150,406,000 after acquiring an additional 10,541 shares during the last quarter. Finally, State of Michigan Retirement System boosted its position in shares of Jabil by 0.8% during the 4th quarter. State of Michigan Retirement System now owns 36,600 shares of the technology company’s stock valued at $5,267,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Wall Street Analysts Forecast Growth

JBL has been the subject of a number of research analyst reports. UBS Group lifted 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. StockNews.com downgraded Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Barclays lifted their price target on 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 lifted their price target on Jabil from $160.00 to $179.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $160.00 target price (up previously from $150.00) on shares of Jabil in a research report on Thursday, December 19th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $158.83.

Insiders Place Their Bets

In other news, Director John C. Plant sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $172.55, for a total transaction of $8,627,500.00. Following the transaction, the director now directly owns 5,900 shares of the company’s stock, valued at approximately $1,018,045. The trade was a 89.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Frederic E. Mccoy sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $149.81, for a total value of $599,240.00. Following the transaction, the executive vice president now directly owns 138,472 shares in the company, valued at $20,744,490.32. This trade represents a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,400 shares of company stock valued at $12,804,458 in the last ninety days. Company insiders own 1.73% of the company’s stock.

Jabil Stock Performance

NYSE:JBL opened at $136.07 on Friday. 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 business has a 50 day moving average of $157.27 and a 200 day moving average of $137.00. The company has a market capitalization of $14.86 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.65 and a beta of 1.19. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $174.80.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Wednesday, December 18th. The technology company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.12. The business had revenue of $6.99 billion for 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 quarterly revenue was down 16.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.60 EPS. On average, sell-side analysts predict that Jabil Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were paid a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. Jabil’s dividend payout ratio (DPR) is currently 3.07%.

Jabil 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).