Lmcg Investments LLC Sells 5,859 Shares of Jabil Inc. (NYSE:JBL)

Lmcg Investments LLC reduced its position in Jabil Inc. (NYSE:JBL) by 5.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 112,469 shares of the technology company’s stock after selling 5,859 shares during the period. Jabil makes up approximately 1.0% of Lmcg Investments LLC’s holdings, making the stock its 25th largest holding. Lmcg Investments LLC’s holdings in Jabil were worth $16,184,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Meyer Handelman Co. bought a new stake in Jabil in the 4th quarter valued at about $7,334,000. Davis Investment Partners LLC bought a new stake in shares of Jabil in the fourth quarter valued at approximately $1,433,000. Nicola Wealth Management LTD. raised its position in shares of Jabil by 54.9% in the third quarter. Nicola Wealth Management LTD. now owns 39,500 shares of the technology company’s stock valued at $4,733,000 after purchasing an additional 14,000 shares during the period. Foster & Motley Inc. lifted its stake in shares of Jabil by 8.7% during the 3rd quarter. Foster & Motley Inc. now owns 52,173 shares of the technology company’s stock valued at $6,252,000 after buying an additional 4,181 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in Jabil by 11.8% in the 3rd quarter. Empowered Funds LLC now owns 145,682 shares of the technology company’s stock valued at $17,457,000 after buying an additional 15,413 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on JBL shares. StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a report on Tuesday. Stifel Nicolaus reaffirmed a “buy” rating and set a $160.00 price objective (up previously from $150.00) on shares of Jabil in a research note on Thursday, December 19th. UBS Group raised their price target on shares of Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. The Goldman Sachs Group upped their price target on shares of Jabil from $136.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Bank of America lifted their price objective on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Jabil currently has a consensus rating of “Moderate Buy” and an average target price of $153.17.

Jabil Stock Up 0.7 %

JBL opened at $162.94 on Tuesday. The stock has a market cap of $17.79 billion, a PE ratio of 15.62, a P/E/G ratio of 1.71 and a beta of 1.23. Jabil Inc. has a 52 week low of $95.85 and a 52 week high of $164.25. The business’s fifty day simple moving average is $141.29 and its 200 day simple moving average is $123.72. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

Jabil (NYSE:JBL) last released its earnings results on Wednesday, December 18th. The technology company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.12. The company had revenue of $6.99 billion during the quarter, compared to analyst estimates of $6.61 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. Jabil’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.60 EPS. As a group, research analysts expect that Jabil Inc. will post 8.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Jabil

In other Jabil news, SVP Francis Mckay sold 11,755 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $121.71, for a total value of $1,430,701.05. Following the completion of the sale, the senior vice president now owns 41,507 shares in the company, valued at approximately $5,051,816.97. This trade represents a 22.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $124.70, for a total value of $2,494,000.00. Following the transaction, the director now owns 139,108 shares of the company’s stock, valued at approximately $17,346,767.60. This represents a 12.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,038 shares of company stock valued at $8,073,666 in the last quarter. Company insiders own 1.73% of the company’s stock.

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).