Simcoe Capital Management LLC Invests $50.63 Million in Jabil Inc. (NYSE:JBL)

Simcoe Capital Management LLC bought a new stake in Jabil Inc. (NYSE:JBL) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 351,855 shares of the technology company’s stock, valued at approximately $50,632,000. Jabil makes up 7.4% of Simcoe Capital Management LLC’s investment portfolio, making the stock its 5th biggest position. Simcoe Capital Management LLC owned approximately 0.32% of Jabil as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP raised its holdings in shares of Jabil by 70,781.4% during the fourth quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company’s stock worth $835,876,000 after purchasing an additional 5,800,535 shares during the period. Norges Bank bought a new stake in shares of Jabil during the 4th quarter valued at about $218,430,000. Point72 Asset Management L.P. raised its stake in Jabil by 1,007.6% during the fourth quarter. Point72 Asset Management L.P. now owns 965,629 shares of the technology company’s stock worth $138,954,000 after acquiring an additional 878,444 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Jabil by 16,190.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 552,740 shares of the technology company’s stock worth $79,539,000 after acquiring an additional 549,347 shares during the period. Finally, FMR LLC lifted its holdings in Jabil by 8.1% in the fourth quarter. FMR LLC now owns 5,533,149 shares of the technology company’s stock worth $796,220,000 after acquiring an additional 416,841 shares during the last quarter. Institutional investors own 93.39% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. The Goldman Sachs Group dropped their price target on Jabil from $175.00 to $146.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. JPMorgan Chase & Co. lowered their price objective on Jabil from $175.00 to $154.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. UBS Group raised their target price on Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Barclays upped their price target on shares of Jabil from $179.00 to $184.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Finally, StockNews.com downgraded shares of Jabil from a “buy” rating to a “hold” rating in a research report on Friday, April 18th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $158.50.

Jabil Trading Down 0.2%

NYSE:JBL opened at $166.48 on Friday. The stock has a market cap of $17.87 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 1.65 and a beta of 1.11. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $174.80. The business has a fifty day moving average of $140.67 and a 200-day moving average of $144.88.

Jabil (NYSE:JBL) last announced its earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The firm had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same quarter in the prior year, the firm posted $1.68 EPS. Jabil’s revenue was down .6% compared to the same quarter last year. Equities analysts predict that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.19%. The ex-dividend date is Thursday, May 15th. Jabil’s dividend payout ratio (DPR) is presently 7.66%.

Insider Buying and Selling at Jabil

In other news, CEO Michael Dastoor sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $169.90, for a total transaction of $1,699,000.00. Following the sale, the chief executive officer now directly owns 221,693 shares of the company’s stock, valued at $37,665,640.70. The trade was a 4.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark T. Mondello sold 20,000 shares of Jabil stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $131.56, for a total value of $2,631,200.00. Following the completion of the transaction, the chairman now directly owns 1,730,192 shares in the company, valued at $227,624,059.52. This represents a 1.14% decrease in their position. The disclosure for this sale can be found here. 1.73% of the stock is owned by corporate insiders.

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).