Rockland Trust Co. Has $467,000 Stake in Jabil Inc. (NYSE:JBL)

Rockland Trust Co. decreased its holdings in shares of Jabil Inc. (NYSE:JBL) by 10.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,489 shares of the technology company’s stock after selling 387 shares during the quarter. Rockland Trust Co.’s holdings in Jabil were worth $467,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Czech National Bank boosted its holdings in Jabil by 0.3% during the first quarter. Czech National Bank now owns 22,439 shares of the technology company’s stock worth $3,006,000 after purchasing an additional 73 shares during the last quarter. HB Wealth Management LLC raised its position in Jabil by 3.9% during the fourth quarter. HB Wealth Management LLC now owns 2,183 shares of the technology company’s stock worth $278,000 after acquiring an additional 82 shares in the last quarter. Beacon Pointe Advisors LLC raised its position in Jabil by 2.5% during the fourth quarter. Beacon Pointe Advisors LLC now owns 3,377 shares of the technology company’s stock worth $430,000 after acquiring an additional 83 shares in the last quarter. Mackenzie Financial Corp raised its position in Jabil by 0.9% during the fourth quarter. Mackenzie Financial Corp now owns 10,258 shares of the technology company’s stock worth $1,307,000 after acquiring an additional 90 shares in the last quarter. Finally, Field & Main Bank raised its position in Jabil by 5.6% during the fourth quarter. Field & Main Bank now owns 1,875 shares of the technology company’s stock worth $239,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 93.39% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. StockNews.com raised shares of Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. The Goldman Sachs Group upped their price target on shares of Jabil from $141.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Argus lowered shares of Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. JPMorgan Chase & Co. dropped their price objective on shares of Jabil from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, June 17th. Finally, Bank of America dropped their price objective on shares of Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a research report on Friday. 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.com, Jabil has a consensus rating of “Moderate Buy” and an average price target of $142.63.

Jabil Price Performance

NYSE:JBL opened at $113.19 on Friday. Jabil Inc. has a 52 week low of $100.18 and a 52 week high of $156.94. The firm has a market cap of $13.65 billion, a price-to-earnings ratio of 10.30, a P/E/G ratio of 1.40 and a beta of 1.35. The firm’s 50-day simple moving average is $119.16 and its 200 day simple moving average is $128.05. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.72 and a current ratio of 1.13.

Jabil (NYSE:JBL) last released its quarterly earnings results on Thursday, June 20th. The technology company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Jabil had a net margin of 4.63% and a return on equity of 40.30%. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.53 billion. During the same period last year, the firm earned $1.85 earnings per share. Jabil’s revenue for the quarter was down 20.2% compared to the same quarter last year. As a group, sell-side analysts predict that Jabil Inc. will post 7.74 earnings per share for the current year.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Wednesday, May 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Tuesday, May 14th. Jabil’s dividend payout ratio is 2.91%.

Insider Buying and Selling

In related news, CEO Kenneth S. Wilson sold 15,000 shares of the firm’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 transaction, the chief executive officer now directly owns 339,725 shares of the company’s stock, valued at $45,591,095. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Jabil news, SVP May Yee Yap sold 7,877 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 29,006 shares in the company, valued at $4,050,687.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kenneth S. Wilson sold 15,000 shares of the stock in a transaction dated Monday, April 15th. The stock was 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 owns 339,725 shares in the company, valued at $45,591,095. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,877 shares of company stock valued at $3,519,883. 2.62% of the stock is owned by company insiders.

About Jabil

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).