Abacus Planning Group Inc. Purchases 454 Shares of Jabil Inc. (NYSE:JBL)

Abacus Planning Group Inc. increased its holdings in shares of Jabil Inc. (NYSE:JBL) by 27.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,084 shares of the technology company’s stock after acquiring an additional 454 shares during the period. Abacus Planning Group Inc.’s holdings in Jabil were worth $284,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. SBI Securities Co. Ltd. bought a new stake in shares of Jabil during the fourth quarter worth $27,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Jabil in the fourth quarter valued at approximately $29,000. Millstone Evans Group LLC acquired a new stake in shares of Jabil in the fourth quarter valued at approximately $37,000. First Horizon Advisors Inc. raised its position in Jabil by 90.3% in the 4th quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company’s stock worth $39,000 after purchasing an additional 130 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Jabil by 113.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the technology company’s stock worth $43,000 after buying an additional 158 shares in the last quarter. 93.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Jabil

In other news, CEO Michael Dastoor sold 10,000 shares of the 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 sale, the chief executive officer now owns 221,693 shares of the company’s stock, valued at $37,665,640.70. This represents a 4.32% 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, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $166.75, for a total value of $3,335,000.00. Following the transaction, the chairman now owns 1,710,192 shares of the company’s stock, valued at approximately $285,174,516. This trade represents a 1.16% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 50,000 shares of company stock worth $7,665,200. 1.73% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

JBL has been the topic of several research reports. JPMorgan Chase & Co. cut their price target on Jabil from $175.00 to $154.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. UBS Group upped their target price on shares of Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Barclays boosted their price target on shares of Jabil from $179.00 to $184.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. The Goldman Sachs Group reduced their price objective on shares of Jabil from $175.00 to $146.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, Wall Street Zen upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research report on Monday, May 19th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $158.50.

Jabil Stock Performance

Shares of NYSE:JBL opened at $176.93 on Monday. The company has a market capitalization 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. The firm’s 50 day simple moving average is $150.17 and its 200 day simple moving average is $149.43. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $177.00.

Jabil (NYSE:JBL) last posted its earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. 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 business posted $1.68 earnings per share. The business’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, sell-side analysts forecast that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Announces Dividend

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

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).