Summit Partners Public Asset Management LLC Acquires New Shares in Jabil Inc. (NYSE:JBL)

Summit Partners Public Asset Management LLC acquired a new stake in Jabil Inc. (NYSE:JBL) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 20,000 shares of the technology company’s stock, valued at approximately $2,878,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in Jabil in the fourth quarter worth about $27,000. Murphy & Mullick Capital Management Corp bought a new position in Jabil in the fourth quarter worth about $29,000. Millstone Evans Group LLC bought a new position in Jabil in the fourth quarter worth about $37,000. First Horizon Advisors Inc. raised its holdings in Jabil by 90.3% in the fourth quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company’s stock worth $39,000 after purchasing an additional 130 shares in the last quarter. Finally, GHP Investment Advisors Inc. bought a new position in Jabil in the fourth quarter worth about $43,000. 93.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Michael Dastoor sold 10,000 shares of the 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 transaction, the chief executive officer now owns 221,693 shares in the company, valued at approximately $37,665,640.70. This represents a 4.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $131.56, for a total transaction of $2,631,200.00. Following the completion of the transaction, the chairman now owns 1,730,192 shares in the company, valued at approximately $227,624,059.52. This trade 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 Stock Performance

JBL opened at $167.88 on Friday. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $174.80. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The company has a market cap of $18.02 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 1.65 and a beta of 1.11. The firm’s 50-day moving average price is $141.38 and its 200-day moving average price is $145.18.

Jabil (NYSE:JBL) last posted its quarterly earnings data 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 net margin of 4.71% and a return on equity of 41.87%. The firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter in the prior year, the company posted $1.68 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities analysts anticipate that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

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

Analysts Set New Price Targets

JBL has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Jabil from $175.00 to $154.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Barclays boosted their target price on shares of Jabil from $179.00 to $184.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. The Goldman Sachs Group reduced their target price on shares of Jabil from $175.00 to $146.00 and set a “buy” rating for the company in a report on Thursday, April 10th. UBS Group boosted their target price on shares of Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Finally, StockNews.com downgraded shares of Jabil from a “buy” rating to a “hold” rating in a report on Friday, April 18th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $158.50.

About Jabil

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).