Sawgrass Asset Management LLC Lowers Position in Jabil Inc. (NYSE:JBL)

Sawgrass Asset Management LLC trimmed its stake in shares of Jabil Inc. (NYSE:JBL) by 20.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,476 shares of the technology company’s stock after selling 623 shares during the period. Sawgrass Asset Management LLC’s holdings in Jabil were worth $315,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of JBL. Alaska Permanent Fund Corp purchased a new stake in Jabil in the 4th quarter worth $29,000. CVA Family Office LLC purchased a new stake in Jabil in the 4th quarter worth $36,000. Valley National Advisers Inc. purchased a new stake in Jabil in the 4th quarter worth $36,000. Hanseatic Management Services Inc. purchased a new stake in Jabil in the 3rd quarter worth $48,000. Finally, Allworth Financial LP lifted its stake in Jabil by 745.8% in the 4th quarter. Allworth Financial LP now owns 406 shares of the technology company’s stock worth $52,000 after purchasing an additional 358 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Jabil news, Chairman Mark T. Mondello sold 50,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $126.09, for a total value of $6,304,500.00. Following the transaction, the chairman now directly owns 1,809,194 shares in the company, valued at approximately $228,121,271.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Mark T. Mondello sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $126.09, for a total transaction of $6,304,500.00. Following the transaction, the chairman now directly owns 1,809,194 shares in the company, valued at $228,121,271.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP May Yee Yap sold 7,877 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $139.65, for a total transaction of $1,100,023.05. Following the completion of the transaction, the senior vice president now directly owns 29,006 shares of the company’s stock, valued at approximately $4,050,687.90. The disclosure for this sale can be found here. Insiders have sold 75,877 shares of company stock worth $9,824,383 in the last three months. Corporate insiders own 2.62% of the company’s stock.

Jabil Trading Down 1.3 %

NYSE:JBL traded down $1.54 during mid-day trading on Tuesday, hitting $117.43. 1,331,380 shares of the stock traded hands, compared to its average volume of 1,376,549. The stock has a market capitalization of $14.16 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 1.25 and a beta of 1.42. Jabil Inc. has a 52 week low of $77.22 and a 52 week high of $156.94. The firm’s 50 day moving average is $133.37 and its two-hundred day moving average is $129.88. The company has a quick ratio of 0.72, a current ratio of 1.17 and a debt-to-equity ratio of 1.08.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Friday, March 15th. The technology company reported $1.54 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.01). The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate 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 7.83 earnings per share for the current year.

Jabil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 15th will be paid a $0.08 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. Jabil’s dividend payout ratio is currently 2.75%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on JBL shares. Argus cut shares of Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. StockNews.com upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Barclays decreased their target price on shares of Jabil from $151.00 to $149.00 and set an “overweight” rating on the stock in a research report on Monday, March 18th. Finally, The Goldman Sachs Group upped their target price on shares of Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, March 4th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $144.50.

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).