Quarry LP Buys New Shares in Jabil Inc. (NYSE:JBL)

Quarry LP purchased a new position in Jabil Inc. (NYSE:JBL) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 640 shares of the technology company’s stock, valued at approximately $70,000.

A number of other institutional investors and hedge funds have also bought and sold shares of JBL. Benjamin Edwards Inc. purchased a new stake in shares of Jabil during the first quarter worth about $25,000. HHM Wealth Advisors LLC bought a new position in Jabil in the 2nd quarter worth approximately $28,000. ORG Partners LLC purchased a new stake in Jabil during the 1st quarter valued at approximately $29,000. Innealta Capital LLC bought a new stake in shares of Jabil during the second quarter valued at approximately $31,000. Finally, Riverview Trust Co bought a new stake in shares of Jabil during the first quarter valued at approximately $33,000. 93.39% of the stock is owned by institutional investors.

Jabil Trading Up 0.8 %

Shares of JBL stock opened at $119.90 on Friday. The company has a market cap of $13.60 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 2.23 and a beta of 1.25. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94. The stock’s 50 day simple moving average is $107.85 and its two-hundred day simple moving average is $116.06. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.74.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.08. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.59 billion. During the same period last year, the company earned $2.34 earnings per share. Jabil’s revenue was down 17.7% on a year-over-year basis. Research analysts predict that Jabil Inc. will post 7.85 earnings per share for the current year.

Jabil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.27%. The ex-dividend date was Thursday, August 15th. Jabil’s payout ratio is currently 2.91%.

Insider Buying and Selling at Jabil

In other news, EVP Frederic E. Mccoy sold 1,250 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $116.42, for a total value of $145,525.00. Following the sale, the executive vice president now directly owns 112,753 shares in the company, valued at $13,126,704.26. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Frederic E. Mccoy sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total value of $474,800.00. Following the transaction, the executive vice president now owns 108,753 shares of the company’s stock, valued at approximately $12,908,981.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Frederic E. Mccoy sold 1,250 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $116.42, for a total transaction of $145,525.00. Following the completion of the sale, the executive vice president now directly owns 112,753 shares of the company’s stock, valued at $13,126,704.26. The disclosure for this sale can be found here. Insiders sold 9,524 shares of company stock worth $1,120,554 over the last 90 days. Company insiders own 2.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. UBS Group cut their price objective on Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, June 21st. Barclays boosted their target price on Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Bank of America raised their price target on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, JPMorgan Chase & Co. decreased their price objective on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $145.86.

Jabil 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).