Penobscot Investment Management Company Inc. Purchases Shares of 1,510 Jabil Inc. (NYSE:JBL)

Penobscot Investment Management Company Inc. acquired a new position in Jabil Inc. (NYSE:JBL) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,510 shares of the technology company’s stock, valued at approximately $217,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in Jabil in the 4th quarter worth $27,000. Murphy & Mullick Capital Management Corp bought a new stake in Jabil during the 4th quarter valued at approximately $29,000. Millstone Evans Group LLC purchased a new position in Jabil in the 4th quarter worth approximately $37,000. First Horizon Advisors Inc. boosted its stake 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 period. Finally, Smartleaf Asset Management LLC grew 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 valued at $43,000 after buying an additional 158 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors.

Jabil Stock Down 3.0 %

Shares of NYSE:JBL opened at $143.88 on Thursday. The company has a market cap of $15.71 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 1.65 and a beta of 1.19. Jabil Inc. has a 12 month low of $95.85 and a 12 month high of $174.80. 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 company has a 50-day moving average price of $155.44 and a 200 day moving average price of $139.09.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.11. The business had revenue of $6.73 billion during 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 for the quarter was down .6% on a year-over-year basis. During the same period last year, the company earned $1.68 EPS. As a group, equities research analysts predict that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil’s dividend payout ratio is currently 7.66%.

Wall Street Analysts Forecast Growth

JBL has been the topic of several research analyst reports. StockNews.com raised shares of Jabil from a “hold” rating to a “buy” rating in a report on Friday, March 21st. UBS Group boosted their price target on shares of Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. The Goldman Sachs Group raised their price objective on Jabil from $160.00 to $179.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Stifel Nicolaus reiterated a “buy” rating and issued a $160.00 target price (up from $150.00) on shares of Jabil in a research report on Thursday, December 19th. Finally, Barclays raised their price target on Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a report on Friday, March 21st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $167.50.

Insider Transactions at Jabil

In other news, EVP Frederic E. Mccoy sold 4,000 shares of Jabil stock in a transaction on Friday, January 3rd. The stock was 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. This trade represents a 2.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher S. Holland sold 3,400 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $162.27, for a total transaction of $551,718.00. Following the completion of the transaction, the director now owns 12,900 shares in the company, valued at approximately $2,093,283. The trade was a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,400 shares of company stock worth $12,804,458. 1.73% of the stock is currently owned by insiders.

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).