Harvest Fund Management Co. Ltd Sells 852 Shares of Jabil Inc. (NYSE:JBL)

Harvest Fund Management Co. Ltd lessened its holdings in Jabil Inc. (NYSE:JBL) by 57.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 629 shares of the technology company’s stock after selling 852 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Jabil were worth $80,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. CVA Family Office LLC bought a new position in Jabil during the 4th quarter worth approximately $36,000. Valley National Advisers Inc. bought a new position in Jabil during the 4th quarter worth approximately $36,000. Hanseatic Management Services Inc. bought a new position in Jabil during the 3rd quarter worth approximately $48,000. Ceredex Value Advisors LLC bought a new position in Jabil during the 3rd quarter worth approximately $51,000. Finally, Allworth Financial LP boosted its stake in Jabil by 745.8% during the 4th quarter. Allworth Financial LP now owns 406 shares of the technology company’s stock worth $52,000 after acquiring an additional 358 shares during the last quarter. Institutional investors own 93.39% of the company’s stock.

Jabil Price Performance

NYSE JBL opened at $118.48 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.17 and a debt-to-equity ratio of 1.08. The firm’s 50 day moving average is $136.38 and its 200-day moving average is $130.86. Jabil Inc. has a 12-month low of $75.48 and a 12-month high of $156.94. The company has a market capitalization of $14.29 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 1.28 and a beta of 1.40.

Jabil (NYSE:JBL) last posted its quarterly earnings results on Friday, March 15th. The technology company reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.01). Jabil had a return on equity of 39.47% and a net margin of 4.70%. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.91 billion. Equities research analysts anticipate that Jabil Inc. will post 7.83 earnings per share for the current fiscal year.

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend is Tuesday, May 14th. Jabil’s dividend payout ratio (DPR) is currently 2.75%.

Insiders Place Their Bets

In other Jabil news, SVP May Yee Yap sold 7,877 shares of the company’s stock in a transaction on Monday, April 8th. The shares were 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 directly owns 29,006 shares in the company, valued at $4,050,687.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Jabil news, Director David M. Stout sold 31,300 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $123.12, for a total value of $3,853,656.00. Following the transaction, the director now directly owns 67,300 shares in the company, valued at $8,285,976. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP May Yee Yap sold 7,877 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were 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 owns 29,006 shares in the company, valued at $4,050,687.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 107,177 shares of company stock valued at $13,678,039. 2.62% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

JBL has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their price objective on shares of Jabil from $141.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. StockNews.com upgraded shares of Jabil from a “hold” rating to a “buy” rating in a report on Tuesday. Argus downgraded shares of Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Barclays dropped their target price on shares of Jabil from $151.00 to $149.00 and set an “overweight” rating on the stock in a report on Monday, March 18th. One research 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. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $144.50.

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).