Modern Wealth Management LLC Invests $209,000 in Jabil Inc. (NYSE:JBL)

Modern Wealth Management LLC acquired a new stake in Jabil Inc. (NYSE:JBL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,455 shares of the technology company’s stock, valued at approximately $209,000.

Other hedge funds also recently added to or reduced their stakes in the company. Meyer Handelman Co. purchased a new position in shares of Jabil during the 4th quarter worth $7,334,000. Davis Investment Partners LLC acquired a new stake in shares of Jabil during the fourth quarter valued at about $1,433,000. Truist Financial Corp raised its stake in shares of Jabil by 50.4% in the 4th quarter. Truist Financial Corp now owns 12,037 shares of the technology company’s stock valued at $1,732,000 after acquiring an additional 4,034 shares during the period. Merit Financial Group LLC acquired a new position in shares of Jabil in the 4th quarter worth approximately $235,000. Finally, Keybank National Association OH purchased a new position in shares of Jabil during the 4th quarter worth approximately $214,000. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Jabil Stock Down 2.5 %

Shares of NYSE:JBL opened at $135.97 on Friday. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $174.80. The firm’s 50 day moving average price is $154.45 and its 200 day moving average price is $139.32. 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 stock has a market cap of $14.84 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 1.65 and a beta of 1.19.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.11. The business had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.40 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company’s revenue was down .6% on a year-over-year basis. During the same period last year, the business earned $1.68 EPS. As a group, equities research analysts predict that Jabil Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. The ex-dividend date was Tuesday, February 18th. Jabil’s dividend payout ratio (DPR) is presently 7.66%.

Insider Buying and Selling

In related news, Director Christopher S. Holland sold 3,400 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $162.27, for a total value of $551,718.00. Following the completion of the sale, the director now directly owns 12,900 shares of the company’s stock, valued at $2,093,283. The trade was a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $151.30, for a total value of $3,026,000.00. Following the transaction, the director now directly owns 119,108 shares in the company, valued at approximately $18,021,040.40. The trade was a 14.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,400 shares of company stock worth $12,804,458 over the last 90 days. 1.73% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on JBL. The Goldman Sachs Group upped their price target on Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Barclays increased their target price on Jabil from $179.00 to $184.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. UBS Group lifted their target price on Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. JPMorgan Chase & Co. increased their price target on shares of Jabil from $172.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Finally, Stifel Nicolaus restated a “buy” rating and issued a $160.00 price objective (up previously from $150.00) on shares of Jabil in a report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $167.50.

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).