Hennessy Advisors Inc. Acquires 4,705 Shares of Jabil Inc. (NYSE:JBL)

Hennessy Advisors Inc. raised its holdings in shares of Jabil Inc. (NYSE:JBL) by 6.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 76,306 shares of the technology company’s stock after buying an additional 4,705 shares during the period. Hennessy Advisors Inc.’s holdings in Jabil were worth $10,221,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Alaska Permanent Fund Corp bought a new position in shares of Jabil during the 4th quarter worth approximately $29,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Jabil in the 4th quarter valued at approximately $32,000. Riverview Trust Co acquired a new stake in shares of Jabil in the 1st quarter valued at approximately $33,000. CVA Family Office LLC acquired a new stake in shares of Jabil in the 4th quarter valued at approximately $36,000. Finally, Valley National Advisers Inc. acquired a new stake in shares of Jabil in the 4th quarter valued at approximately $36,000. 93.39% of the stock is owned by institutional investors.

Jabil Stock Performance

Shares of JBL traded up $0.54 during midday trading on Friday, reaching $108.46. 1,122,936 shares of the stock were exchanged, compared to its average volume of 1,454,968. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 1.26. Jabil Inc. has a twelve month low of $100.18 and a twelve month high of $156.94. The company has a market cap of $13.08 billion, a P/E ratio of 9.82, a PEG ratio of 2.01 and a beta of 1.35. The stock’s 50 day simple moving average is $117.63 and its 200 day simple moving average is $127.84.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Thursday, June 20th. The technology company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.53 billion. During the same quarter last year, the business earned $1.85 earnings per share. Jabil’s revenue was down 20.2% on a year-over-year basis. On average, sell-side analysts expect that Jabil Inc. will post 7.82 earnings per share for the current year.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 15th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend was Tuesday, May 14th. Jabil’s dividend payout ratio is presently 2.91%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on JBL shares. JPMorgan Chase & Co. cut their price objective on Jabil from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, June 17th. StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Argus downgraded Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. UBS Group cut their price target on Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, June 21st. Finally, Barclays cut their price target on Jabil from $149.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Jabil presently has an average rating of “Moderate Buy” and an average target price of $142.63.

Insider Buying and Selling at Jabil

In other Jabil news, SVP May Yee Yap sold 7,877 shares of Jabil stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $139.65, for a total value of $1,100,023.05. Following the transaction, the senior vice president now owns 29,006 shares in the company, valued at $4,050,687.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Kenneth S. Wilson sold 15,000 shares of Jabil stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $134.20, for a total transaction of $2,013,000.00. Following the sale, the chief executive officer now directly owns 339,725 shares of the company’s stock, valued at $45,591,095. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP May Yee Yap sold 7,877 shares of Jabil stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $139.65, for a total value of $1,100,023.05. Following the completion of the transaction, the senior vice president now directly owns 29,006 shares in the company, valued at $4,050,687.90. The disclosure for this sale can be found here. Insiders have sold a total of 25,877 shares of company stock worth $3,519,883 over the last 90 days. Insiders own 2.62% of the company’s stock.

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).