Millstone Evans Group LLC Acquires Shares of 260 Jabil Inc. (NYSE:JBL)

Millstone Evans Group LLC bought a new position in shares of Jabil Inc. (NYSE:JBL) during the fourth quarter, Holdings Channel.com reports. The fund bought 260 shares of the technology company’s stock, valued at approximately $37,000.

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

Jabil Trading Up 3.2 %

NYSE:JBL opened at $149.89 on Tuesday. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $174.80. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. The stock has a fifty day moving average price of $155.89 and a two-hundred day moving average price of $138.73. The stock has a market capitalization of $16.36 billion, a price-to-earnings ratio of 14.37, a PEG 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 EPS for the quarter, beating 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 firm had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same quarter last year, the business earned $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 anticipate that Jabil Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil’s payout ratio is currently 7.66%.

Insider Buying and Selling

In other news, Director Steven A. Raymund sold 20,000 shares of Jabil stock in a transaction on Friday, January 10th. The stock was sold at an average price of $151.30, for a total transaction of $3,026,000.00. Following the completion of the transaction, the director now owns 119,108 shares of the company’s stock, valued at $18,021,040.40. The trade was a 14.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Frederic E. Mccoy sold 4,000 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $149.81, for a total transaction of $599,240.00. Following the completion of the sale, the executive vice president now directly owns 138,472 shares in the company, valued at approximately $20,744,490.32. The trade was a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,400 shares of company stock valued at $12,804,458. 1.73% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on JBL. JPMorgan Chase & Co. increased their target price on shares of Jabil from $172.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday. StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a research report on Friday. UBS Group boosted their target price on Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a report on Friday. The Goldman Sachs Group lifted their price objective on shares of Jabil from $160.00 to $179.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Finally, Barclays upped their price objective on shares of Jabil from $179.00 to $184.00 and gave the stock an “overweight” rating in a research report on Friday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Jabil has an average rating of “Moderate Buy” and an average target price of $167.50.

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).