Richardson Capital Management LLC Acquires Shares of 450 Jabil Inc. (NYSE:JBL)

Richardson Capital Management LLC bought a new position in Jabil Inc. (NYSE:JBL) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 450 shares of the technology company’s stock, valued at approximately $60,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of JBL. Norges Bank purchased a new stake in shares of Jabil in the fourth quarter valued at approximately $192,964,000. Vanguard Group Inc. raised its position in Jabil by 10.5% during the fourth quarter. Vanguard Group Inc. now owns 15,070,238 shares of the technology company’s stock worth $1,919,948,000 after acquiring an additional 1,427,429 shares during the period. Caisse DE Depot ET Placement DU Quebec purchased a new position in Jabil during the third quarter valued at $57,818,000. Artisan Partners Limited Partnership grew its position in shares of Jabil by 36.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,339,559 shares of the technology company’s stock valued at $170,660,000 after purchasing an additional 359,818 shares during the period. Finally, Ceredex Value Advisors LLC increased its stake in shares of Jabil by 72,212.5% during the fourth quarter. Ceredex Value Advisors LLC now owns 289,250 shares of the technology company’s stock worth $36,850,000 after purchasing an additional 288,850 shares in the last quarter. 93.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on JBL shares. StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Barclays decreased their price objective on Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. JPMorgan Chase & Co. reduced their target price on shares of Jabil from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, June 17th. Argus lowered shares of Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, UBS Group cut their price objective on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, June 21st. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.63.

Jabil Trading Up 0.8 %

Shares of JBL stock traded up $0.87 during trading on Friday, hitting $108.79. 5,682,574 shares of the stock traded hands, compared to its average volume of 1,788,014. Jabil Inc. has a 52-week low of $100.18 and a 52-week high of $156.94. The firm has a market capitalization of $13.12 billion, a P/E ratio of 9.90, a price-to-earnings-growth ratio of 1.94 and a beta of 1.35. The firm’s fifty day moving average price is $117.43 and its 200-day moving average price is $127.81. 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 posted its earnings results on Thursday, June 20th. The technology company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.53 billion. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The company’s revenue for the quarter was down 20.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.85 earnings per share. As a group, research analysts forecast that Jabil Inc. will post 7.86 earnings per share for the current fiscal year.

Jabil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 15th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend was Tuesday, May 14th. Jabil’s dividend payout ratio (DPR) is 2.91%.

Insider Transactions at Jabil

In related news, CEO Kenneth S. Wilson sold 15,000 shares of Jabil stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $134.20, for a total value of $2,013,000.00. Following the completion of the sale, the chief executive officer now owns 339,725 shares in the company, valued at approximately $45,591,095. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Jabil news, CEO Kenneth S. Wilson sold 15,000 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $134.20, for a total transaction of $2,013,000.00. Following the sale, the chief executive officer now directly owns 339,725 shares in the company, valued at $45,591,095. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP May Yee Yap sold 7,877 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $139.65, for a total transaction of $1,100,023.05. Following the completion of the transaction, the senior vice president now directly owns 29,006 shares of the company’s stock, valued at approximately $4,050,687.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,877 shares of company stock worth $3,519,883. 2.62% of the stock is currently owned by insiders.

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).