Sara Bay Financial Has $1.37 Million Stock Holdings in Jabil Inc. (NYSE:JBL)

Sara Bay Financial lessened its holdings in Jabil Inc. (NYSE:JBL) by 1.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,036 shares of the technology company’s stock after selling 143 shares during the period. Jabil makes up 0.6% of Sara Bay Financial’s portfolio, making the stock its 20th biggest position. Sara Bay Financial’s holdings in Jabil were worth $1,365,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new stake in shares of Jabil during the fourth quarter worth approximately $27,000. Murphy & Mullick Capital Management Corp acquired a new position in Jabil in the fourth quarter worth $29,000. Millstone Evans Group LLC acquired a new position in Jabil in the fourth quarter worth $37,000. First Horizon Advisors Inc. boosted its stake 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, Smartleaf Asset Management LLC boosted its stake in Jabil by 113.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 297 shares of the technology company’s stock worth $43,000 after purchasing an additional 158 shares in the last quarter. Institutional investors and hedge funds own 93.39% of the company’s stock.

Jabil Trading Up 2.5%

Shares of NYSE JBL opened at $176.93 on Friday. The company’s fifty day moving average is $150.17 and its 200-day moving average is $149.16. The stock has a market cap of $18.99 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 1.65 and a beta of 1.14. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $177.00. 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 announced its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.11. The company had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.40 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the firm posted $1.68 earnings per share. Equities research analysts predict that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Thursday, May 15th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.18%. Jabil’s payout ratio is 7.66%.

Insider Buying and Selling

In related news, CEO Michael Dastoor sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $169.90, for a total transaction of $1,699,000.00. Following the sale, the chief executive officer now directly owns 221,693 shares in the company, valued at $37,665,640.70. This trade represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Mark T. Mondello sold 20,000 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $166.75, for a total transaction of $3,335,000.00. Following the sale, the chairman now owns 1,710,192 shares in the company, valued at approximately $285,174,516. The trade was a 1.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock worth $7,665,200 over the last ninety days. Company insiders own 1.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on JBL shares. JPMorgan Chase & Co. reduced their price objective on Jabil from $175.00 to $154.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. The Goldman Sachs Group lowered their price target 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 raised their price target on shares of Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Barclays raised their price objective on shares of Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Finally, Wall Street Zen raised shares of Jabil from a “hold” rating to a “buy” rating in a research note on Monday, May 19th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.50.

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).