Leigh Baldwin & CO. LLC Acquires New Holdings in Jabil Inc. (NYSE:JBL)

Leigh Baldwin & CO. LLC bought a new stake in shares of Jabil Inc. (NYSE:JBL) in the 4th quarter, Holdings Channel.com reports. The fund bought 220,887 shares of the technology company’s stock, valued at approximately $3,179,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its position in shares of Jabil by 70,781.4% during the 4th quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company’s stock worth $835,876,000 after purchasing an additional 5,800,535 shares during the last quarter. FMR LLC raised its holdings in shares of Jabil by 8.1% in the fourth quarter. FMR LLC now owns 5,533,149 shares of the technology company’s stock worth $796,220,000 after acquiring an additional 416,841 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Jabil by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company’s stock valued at $404,024,000 after acquiring an additional 34,574 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Jabil by 18.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company’s stock valued at $270,187,000 after acquiring an additional 288,806 shares during the last quarter. Finally, Norges Bank purchased a new stake in Jabil during the 4th quarter worth about $218,430,000. Institutional investors and hedge funds own 93.39% of the company’s stock.

Jabil Price Performance

JBL stock opened at $153.97 on Monday. The company has a market cap of $16.53 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 1.65 and a beta of 1.11. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. The stock has a 50-day moving average price of $138.51 and a two-hundred day moving average price of $144.02. Jabil Inc. has a 12-month low of $95.85 and a 12-month high of $174.80.

Jabil (NYSE:JBL) last released its quarterly earnings data on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 41.87% and a net margin of 4.71%. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.68 EPS. As a group, research analysts predict that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend is Thursday, May 15th. Jabil’s payout ratio is currently 7.66%.

Insider Activity

In related news, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction on Friday, April 11th. The stock was sold at an average price of $131.56, for a total value of $2,631,200.00. Following the completion of the sale, the chairman now directly owns 1,730,192 shares in the company, valued at approximately $227,624,059.52. This represents a 1.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on JBL. The Goldman Sachs Group reduced their target price on shares of Jabil from $175.00 to $146.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Barclays upped 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. StockNews.com cut shares of Jabil from a “buy” rating to a “hold” rating in a research note on Friday, April 18th. UBS Group increased their price target on Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. dropped their target price on Jabil from $175.00 to $154.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Jabil presently has an average rating of “Moderate Buy” and an average price target 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).