150,795 Shares in Jabil Inc. (NYSE:JBL) Bought by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC purchased a new position in Jabil Inc. (NYSE:JBL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 150,795 shares of the technology company’s stock, valued at approximately $21,699,000. Silvercrest Asset Management Group LLC owned 0.14% of Jabil as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JBL. Wellington Management Group LLP grew its stake in Jabil by 70,781.4% in 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 purchased a new stake in shares of Jabil in the fourth quarter worth $218,430,000. Point72 Asset Management L.P. grew its stake in shares of Jabil by 1,007.6% in 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 last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Jabil by 16,190.6% in 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 last quarter. Finally, FMR LLC grew its stake in shares of 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. 93.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Jabil

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

Jabil Trading Up 0.8%

Jabil stock opened at $167.88 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72. Jabil Inc. has a one year low of $95.85 and a one year high of $174.80. The stock has a market capitalization of $18.02 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.65 and a beta of 1.11. The business’s fifty day moving average is $141.38 and its 200 day moving average is $145.18.

Jabil (NYSE:JBL) last released its quarterly earnings data on Thursday, March 20th. The technology company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.83 by $0.11. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The company had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.40 billion. During the same period last year, the firm posted $1.68 earnings per share. Jabil’s revenue was down .6% compared to the same quarter last year. On average, sell-side analysts predict that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend is Thursday, May 15th. Jabil’s dividend payout ratio is 7.66%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group cut their target price on Jabil from $175.00 to $146.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Barclays increased their target price on Jabil from $179.00 to $184.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. JPMorgan Chase & Co. cut their target price on Jabil from $175.00 to $154.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. StockNews.com cut Jabil from a “buy” rating to a “hold” rating in a research note on Friday, April 18th. Finally, UBS Group increased their target price on Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $158.50.

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).