Sawgrass Asset Management LLC Has $504,000 Stock Holdings in Jabil Inc. (NYSE:JBL)

Sawgrass Asset Management LLC lifted its stake in shares of Jabil Inc. (NYSE:JBL) by 42.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,503 shares of the technology company’s stock after buying an additional 1,039 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Jabil were worth $504,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of JBL. Capital Performance Advisors LLP acquired a new stake in shares of Jabil during the 3rd quarter worth about $32,000. Brooklyn Investment Group acquired a new stake in Jabil in the 3rd quarter worth about $39,000. GHP Investment Advisors Inc. acquired a new stake in Jabil in the 4th quarter worth about $43,000. MassMutual Private Wealth & Trust FSB raised its stake in Jabil by 30.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 466 shares of the technology company’s stock worth $67,000 after purchasing an additional 109 shares in the last quarter. Finally, Intact Investment Management Inc. acquired a new stake in Jabil in the 3rd quarter worth about $70,000. Institutional investors and hedge funds own 93.39% of the company’s stock.

Jabil Stock Performance

NYSE:JBL opened at $168.88 on Thursday. The company has a market capitalization of $18.44 billion, a P/E ratio of 16.19, a P/E/G ratio of 1.64 and a beta of 1.23. The business has a fifty day simple moving average of $152.54 and a two-hundred day simple moving average of $129.90. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $174.80.

Jabil (NYSE:JBL) last released its quarterly earnings data on Wednesday, December 18th. The technology company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.88 by $0.12. The company had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $6.61 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. Jabil’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same period last year, the firm earned $2.60 EPS. On average, analysts expect 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 will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.19%. The ex-dividend date is Tuesday, February 18th. Jabil’s dividend payout ratio is presently 3.07%.

Insider Buying and Selling at Jabil

In other news, Director Steven A. Raymund sold 20,000 shares of the business’s stock in a transaction dated 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 approximately $18,021,040.40. The trade was a 14.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Frederic E. Mccoy sold 4,000 shares of Jabil stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $149.81, for a total transaction of $599,240.00. Following the sale, the executive vice president now owns 138,472 shares of the company’s stock, 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. Insiders sold a total of 77,400 shares of company stock valued at $12,804,458 in the last three months. Company insiders own 1.73% of the company’s stock.

Wall Street Analysts Forecast Growth

JBL has been the subject of several analyst reports. The Goldman Sachs Group lifted their price objective on shares of Jabil from $136.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Barclays upped their price target on shares of Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. StockNews.com cut shares of Jabil from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. UBS Group upped their price target on shares of Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $160.00 price target (up from $150.00) on shares of Jabil in a research report on Thursday, December 19th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Jabil has an average rating of “Moderate Buy” and a consensus target price of $153.17.

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).