Abacus Planning Group Inc. Has $284,000 Stake in Jabil Inc. (NYSE:JBL)

Abacus Planning Group Inc. lifted its holdings in shares of Jabil Inc. (NYSE:JBL) by 27.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,084 shares of the technology company’s stock after buying an additional 454 shares during the period. Abacus Planning Group Inc.’s holdings in Jabil were worth $284,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Bleakley Financial Group LLC increased its position in Jabil by 2.2% during the 4th quarter. Bleakley Financial Group LLC now owns 3,273 shares of the technology company’s stock worth $471,000 after buying an additional 70 shares during the period. Savant Capital LLC boosted its position in shares of Jabil by 1.9% in the fourth quarter. Savant Capital LLC now owns 5,332 shares of the technology company’s stock valued at $767,000 after acquiring an additional 99 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in shares of Jabil by 21.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 565 shares of the technology company’s stock valued at $77,000 after acquiring an additional 99 shares in the last quarter. Utah Retirement Systems increased its position in Jabil by 0.5% during the fourth quarter. Utah Retirement Systems now owns 18,382 shares of the technology company’s stock worth $2,645,000 after acquiring an additional 100 shares during the period. Finally, Atlas Capital Advisors Inc. increased its position in Jabil by 1.0% during the fourth quarter. Atlas Capital Advisors Inc. now owns 10,463 shares of the technology company’s stock worth $1,506,000 after acquiring an additional 105 shares during the period. Institutional investors own 93.39% of the company’s stock.

Insider Activity

In other Jabil news, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $166.75, for a total value of $3,335,000.00. Following the completion of the transaction, the chairman now directly owns 1,710,192 shares in the company, valued at approximately $285,174,516. This trade represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Dastoor sold 10,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $37,665,640.70. This represents a 4.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,000 shares of company stock worth $7,665,200. Corporate insiders own 1.73% of the company’s stock.

Jabil Stock Performance

Shares of NYSE:JBL opened at $176.93 on Monday. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $177.00. The stock has a market capitalization of $18.99 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 1.65 and a beta of 1.14. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72. The company’s 50 day simple moving average is $150.17 and its 200 day simple moving average is $149.43.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share (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 analyst estimates of $6.40 billion. During the same quarter last year, the company posted $1.68 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, research analysts predict that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.18%. Jabil’s dividend payout ratio (DPR) is currently 7.66%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on JBL shares. Barclays boosted their price objective on shares of Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Wall Street Zen raised Jabil from a “hold” rating to a “buy” rating in a research report on Monday, May 19th. JPMorgan Chase & Co. dropped their price objective on Jabil from $175.00 to $154.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. The Goldman Sachs Group reduced their target price on Jabil from $175.00 to $146.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Finally, UBS Group raised their price target on Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.50.

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).