Horizon Financial Services LLC Invests $111,000 in Jabil, Inc. (NYSE:JBL)

Horizon Financial Services LLC purchased a new stake in Jabil, Inc. (NYSE:JBL) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 816 shares of the technology company’s stock, valued at approximately $111,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. US Bancorp DE grew its stake in shares of Jabil by 7.0% during the fourth quarter. US Bancorp DE now owns 16,036 shares of the technology company’s stock valued at $2,308,000 after acquiring an additional 1,044 shares in the last quarter. Metis Global Partners LLC lifted its position in shares of Jabil by 3.7% in the 4th quarter. Metis Global Partners LLC now owns 3,781 shares of the technology company’s stock worth $544,000 after buying an additional 134 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Jabil by 113.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 297 shares of the technology company’s stock valued at $43,000 after purchasing an additional 158 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Jabil by 76.9% in the fourth quarter. Jones Financial Companies Lllp now owns 1,219 shares of the technology company’s stock valued at $175,000 after buying an additional 530 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of Jabil during the fourth quarter worth about $27,000. Institutional investors and hedge funds own 93.39% of the company’s stock.

Jabil Trading Down 0.3%

JBL opened at $217.44 on Wednesday. Jabil, Inc. has a 1-year low of $95.85 and a 1-year high of $219.00. The company has a fifty day moving average price of $173.51 and a two-hundred day moving average price of $156.97. The company has a current ratio of 0.98, a quick ratio of 0.64 and a debt-to-equity ratio of 1.85. The company has a market cap of $23.34 billion, a P/E ratio of 42.09, a price-to-earnings-growth ratio of 1.53 and a beta of 1.20.

Jabil (NYSE:JBL) last posted its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.27. Jabil had a net margin of 2.02% and a return on equity of 60.19%. The company had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.03 billion. During the same quarter in the previous year, the firm posted $1.89 earnings per share. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. Analysts predict that Jabil, Inc. will post 8.05 EPS for the current fiscal year.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend was Thursday, May 15th. Jabil’s payout ratio is currently 6.21%.

Insider Transactions at Jabil

In other Jabil news, EVP Steven D. Borges sold 22,443 shares of the business’s stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $200.01, for a total value of $4,488,824.43. Following the sale, the executive vice president directly owned 102,803 shares of the company’s stock, valued at approximately $20,561,628.03. The trade was a 17.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Dastoor sold 18,234 shares of the business’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $191.66, for a total transaction of $3,494,728.44. Following the transaction, the chief executive officer directly owned 203,459 shares of the company’s stock, valued at $38,994,951.94. The trade was a 8.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 296,431 shares of company stock valued at $56,239,809. 1.73% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on JBL shares. Wall Street Zen raised Jabil from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 27th. Stifel Nicolaus initiated coverage on shares of Jabil in a report on Wednesday. They set a “buy” rating and a $245.00 price objective for the company. Barclays boosted their target price on shares of Jabil from $206.00 to $223.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 17th. Argus raised Jabil from a “hold” rating to a “buy” rating in a research note on Wednesday, June 18th. Finally, The Goldman Sachs Group raised their target price on shares of Jabil from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, June 18th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $225.71.

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).