Perigon Wealth Management LLC Purchases New Holdings in Jabil Inc. (NYSE:JBL)

Perigon Wealth Management LLC bought a new position in Jabil Inc. (NYSE:JBL) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 1,242 shares of the technology company’s stock, valued at approximately $179,000.

A number of other institutional investors have also bought and sold shares of the business. Pacer Advisors Inc. boosted its position in Jabil by 12,251.7% in the 3rd quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock valued at $264,391,000 after buying an additional 2,188,521 shares during the period. Two Sigma Advisers LP lifted its position in Jabil by 406.5% in the third quarter. Two Sigma Advisers LP now owns 722,800 shares of the technology company’s stock valued at $86,613,000 after acquiring an additional 580,100 shares during the last quarter. FMR LLC increased its stake in Jabil by 11.3% in the third quarter. FMR LLC now owns 5,116,308 shares of the technology company’s stock valued at $613,087,000 after purchasing an additional 520,672 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in Jabil by 595.5% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 343,137 shares of the technology company’s stock valued at $41,118,000 after purchasing an additional 293,801 shares during the period. Finally, Worldquant Millennium Advisors LLC increased its stake in shares of Jabil by 29.0% during the third quarter. Worldquant Millennium Advisors LLC now owns 574,938 shares of the technology company’s stock worth $68,895,000 after acquiring an additional 129,400 shares during the period. 93.39% of the stock is owned by hedge funds and other institutional investors.

Jabil Price Performance

Shares of JBL opened at $159.43 on Tuesday. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $174.80. 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 stock has a 50 day simple moving average of $148.20 and a 200 day simple moving average of $127.35. The firm has a market capitalization of $17.41 billion, a PE ratio of 15.29, a P/E/G ratio of 1.61 and a beta of 1.23.

Jabil (NYSE:JBL) last posted its quarterly earnings results on Wednesday, December 18th. The technology company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.12. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The business had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $6.61 billion. During the same quarter in the prior year, the business earned $2.60 EPS. The firm’s revenue for the quarter was down 16.6% on a year-over-year basis. Sell-side analysts predict that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be given a $0.08 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $0.32 annualized dividend and a yield of 0.20%. Jabil’s dividend payout ratio is presently 3.07%.

Insider Transactions at Jabil

In other Jabil news, Director Steven A. Raymund sold 20,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now owns 119,108 shares in the company, valued at $18,021,040.40. This represents a 14.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John C. Plant sold 50,000 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $172.55, for a total value of $8,627,500.00. Following the transaction, the director now directly owns 5,900 shares in the company, valued at $1,018,045. This represents a 89.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,400 shares of company stock worth $12,804,458 over the last ninety days. 1.73% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on JBL shares. StockNews.com cut shares of Jabil from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. The Goldman Sachs Group raised their target price on shares of Jabil from $136.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. UBS Group lifted their price target on shares of Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Barclays lifted their price target on shares of Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Finally, Stifel Nicolaus restated a “buy” rating and set a $160.00 price target (up from $150.00) on shares of Jabil in a research report on Thursday, December 19th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Jabil has an average rating of “Moderate Buy” and an average target price of $153.17.

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).