Paradigm Capital Management Inc. NY Reduces Stock Holdings in Jabil Inc. (NYSE:JBL)

Paradigm Capital Management Inc. NY trimmed its holdings in shares of Jabil Inc. (NYSE:JBL) by 1.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 572,900 shares of the technology company’s stock after selling 9,100 shares during the quarter. Jabil accounts for about 3.8% of Paradigm Capital Management Inc. NY’s portfolio, making the stock its 7th largest holding. Paradigm Capital Management Inc. NY’s holdings in Jabil were worth $82,440,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in JBL. Woodline Partners LP purchased a new stake in Jabil during the fourth quarter valued at about $5,661,000. iSAM Funds UK Ltd purchased a new stake in shares of Jabil in the 4th quarter valued at approximately $440,000. Vident Advisory LLC boosted its stake in Jabil by 6.8% in the 4th quarter. Vident Advisory LLC now owns 5,573 shares of the technology company’s stock worth $802,000 after purchasing an additional 354 shares during the period. Tidal Investments LLC grew its position in Jabil by 13.4% during the 4th quarter. Tidal Investments LLC now owns 13,000 shares of the technology company’s stock worth $1,871,000 after purchasing an additional 1,537 shares in the last quarter. Finally, True Wealth Design LLC grew its position in Jabil by 3,411.1% during the 4th quarter. True Wealth Design LLC now owns 316 shares of the technology company’s stock worth $45,000 after purchasing an additional 307 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Chairman Mark T. Mondello sold 20,000 shares of the business’s stock in a transaction on Friday, April 11th. The shares were 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. The trade was a 1.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the chief executive officer now owns 221,693 shares in the company, valued at $37,665,640.70. The trade was a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.73% of the company’s stock.

Jabil Trading Down 0.3%

Shares of NYSE:JBL opened at $167.21 on Tuesday. The stock has a market capitalization of $17.95 billion, a PE ratio of 16.03, a P/E/G ratio of 1.65 and a beta of 1.11. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $174.80. The firm has a fifty day moving average price of $142.05 and a 200 day moving average price of $145.76. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81.

Jabil (NYSE:JBL) last posted its earnings results 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. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The company had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same period last year, the company earned $1.68 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. Analysts expect that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Thursday, May 15th will be issued a $0.08 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.32 annualized dividend and a yield of 0.19%. Jabil’s dividend payout ratio (DPR) is currently 7.66%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on JBL shares. Barclays increased their target price on Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a report on Friday, March 21st. StockNews.com upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research report on Monday. The Goldman Sachs Group lowered their target price on Jabil from $175.00 to $146.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. cut their price target on Jabil from $175.00 to $154.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Finally, UBS Group lifted their price target on Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a report on Friday, March 21st. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Jabil presently 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).