Redwood Investment Management LLC Buys 160 Shares of Jabil Inc. (NYSE:JBL)

Redwood Investment Management LLC lifted its stake in Jabil Inc. (NYSE:JBL) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,228 shares of the technology company’s stock after buying an additional 160 shares during the period. Redwood Investment Management LLC’s holdings in Jabil were worth $1,504,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in JBL. Norges Bank bought a new stake in shares of Jabil in the fourth quarter valued at about $192,964,000. Vanguard Group Inc. lifted its stake 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 purchasing an additional 1,427,429 shares during the period. Artisan Partners Limited Partnership lifted its stake in Jabil by 36.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,339,559 shares of the technology company’s stock worth $170,660,000 after purchasing an additional 359,818 shares during the period. Westfield Capital Management Co. LP bought a new position in Jabil during the first quarter worth about $39,040,000. Finally, Ceredex Value Advisors LLC lifted its stake in 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 during the period. Institutional investors own 93.39% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on JBL shares. StockNews.com upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. UBS Group cut their price target on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, June 21st. Barclays cut their price target on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. JPMorgan Chase & Co. cut their target price on shares of Jabil from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, June 17th. Finally, Bank of America cut their target price on shares of Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Friday, June 21st. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $142.63.

Insider Activity at Jabil

In related news, SVP May Yee Yap sold 4,274 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total value of $500,228.96. Following the sale, the senior vice president now directly owns 24,829 shares of the company’s stock, valued at approximately $2,905,986.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Jabil news, 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 sale, the executive vice president now directly owns 112,753 shares of the company’s stock, valued at approximately $13,126,704.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP May Yee Yap sold 4,274 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total transaction of $500,228.96. Following the transaction, the senior vice president now owns 24,829 shares in the company, valued at $2,905,986.16. The disclosure for this sale can be found here. 2.62% of the stock is currently owned by insiders.

Jabil Price Performance

Shares of Jabil stock traded up $3.32 during midday trading on Wednesday, reaching $112.67. The company had a trading volume of 1,371,103 shares, compared to its average volume of 1,468,197. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $12.78 billion, a price-to-earnings ratio of 10.25, a price-to-earnings-growth ratio of 1.96 and a beta of 1.27. The stock has a fifty day simple moving average of $114.62 and a 200 day simple moving average of $125.12. Jabil Inc. has a 1-year low of $100.18 and a 1-year high of $156.94.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Thursday, June 20th. The technology company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.53 billion. Jabil had a net margin of 4.63% and a return on equity of 40.30%. Jabil’s revenue for the quarter was down 20.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.85 earnings per share. As a group, equities research analysts forecast that Jabil Inc. will post 7.86 earnings per share for the current year.

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, August 15th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.32 annualized dividend and a yield of 0.28%. Jabil’s dividend payout ratio is currently 2.91%.

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).