Sentry Investment Management LLC Makes New Investment in Jabil Inc. (NYSE:JBL)

Sentry Investment Management LLC acquired a new stake in shares of Jabil Inc. (NYSE:JBL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 697 shares of the technology company’s stock, valued at approximately $89,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of JBL. Cetera Advisor Networks LLC increased its holdings in Jabil by 4.7% during the 1st quarter. Cetera Advisor Networks LLC now owns 3,989 shares of the technology company’s stock valued at $246,000 after purchasing an additional 180 shares during the period. Private Advisor Group LLC purchased a new position in shares of Jabil during the first quarter valued at approximately $399,000. Great West Life Assurance Co. Can raised its holdings in shares of Jabil by 10.5% during the first quarter. Great West Life Assurance Co. Can now owns 83,585 shares of the technology company’s stock valued at $5,312,000 after acquiring an additional 7,933 shares in the last quarter. Sei Investments Co. lifted its stake in Jabil by 58.6% in the first quarter. Sei Investments Co. now owns 382,918 shares of the technology company’s stock worth $23,633,000 after acquiring an additional 141,511 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in Jabil by 656.6% in the first quarter. Canada Pension Plan Investment Board now owns 21,700 shares of the technology company’s stock valued at $1,340,000 after acquiring an additional 18,832 shares in the last quarter. 93.39% of the stock is owned by institutional investors.

Jabil Stock Performance

Shares of JBL opened at $129.59 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.17 and a debt-to-equity ratio of 1.08. The stock has a market cap of $15.63 billion, a P/E ratio of 11.12, a P/E/G ratio of 1.40 and a beta of 1.40. The business’s 50 day moving average price is $138.45 and its 200-day moving average price is $131.19. Jabil Inc. has a 52 week low of $75.48 and a 52 week high of $156.94.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Friday, March 15th. The technology company reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.01). Jabil had a net margin of 4.70% and a return on equity of 39.47%. The company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.91 billion. Equities research analysts anticipate that Jabil Inc. will post 7.83 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.25%. Jabil’s dividend payout ratio is currently 2.75%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group raised their target price on shares of Jabil from $141.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. StockNews.com lowered shares of Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. Argus downgraded Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Barclays lowered their target price on Jabil from $151.00 to $149.00 and set an “overweight” rating for the company in a research note on Monday, March 18th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Jabil has an average rating of “Moderate Buy” and an average price target of $144.50.

Insiders Place Their Bets

In other news, Director David M. Stout sold 31,300 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $123.12, for a total transaction of $3,853,656.00. Following the sale, the director now owns 67,300 shares in the company, valued at $8,285,976. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Jabil news, Director David M. Stout sold 31,300 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $123.12, for a total transaction of $3,853,656.00. Following the sale, the director now directly owns 67,300 shares in the company, valued at approximately $8,285,976. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Mark T. Mondello sold 50,000 shares of Jabil stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $126.09, for a total value of $6,304,500.00. Following the completion of the sale, the chairman now directly owns 1,809,194 shares of the company’s stock, valued at approximately $228,121,271.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 107,177 shares of company stock valued at $13,678,039. Insiders own 2.62% of the company’s stock.

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).