Abacus Planning Group Inc. Makes New $207,000 Investment in Jabil Inc. (NYSE:JBL)

Abacus Planning Group Inc. purchased a new stake in Jabil Inc. (NYSE:JBL) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,547 shares of the technology company’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JBL. Alaska Permanent Fund Corp purchased a new position in Jabil during the 4th quarter valued at about $29,000. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Jabil in the fourth quarter valued at approximately $32,000. CVA Family Office LLC acquired a new position in shares of Jabil in the fourth quarter valued at approximately $36,000. Valley National Advisers Inc. purchased a new stake in Jabil during the 4th quarter worth approximately $36,000. Finally, Hanseatic Management Services Inc. acquired a new stake in Jabil during the 3rd quarter worth approximately $48,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Jabil Stock Performance

NYSE:JBL traded up $1.02 during mid-day trading on Monday, reaching $114.21. 458,028 shares of the stock were exchanged, compared to its average volume of 1,423,644. The stock has a market capitalization of $13.77 billion, a P/E ratio of 10.30, a P/E/G ratio of 1.40 and a beta of 1.35. Jabil Inc. has a 1 year low of $100.18 and a 1 year high of $156.94. The company has a 50 day simple moving average of $119.16 and a 200-day simple moving average of $128.15. The company has a quick ratio of 0.72, a current ratio of 1.13 and a debt-to-equity ratio of 1.26.

Jabil (NYSE:JBL) last announced its earnings results on Thursday, June 20th. The technology company reported $1.89 earnings per share (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 posted $1.85 earnings per share. The company’s revenue for the quarter was down 20.2% compared to the same quarter last year. Analysts anticipate that Jabil Inc. will post 7.74 earnings per share for the current fiscal year.

Jabil Announces Dividend

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

Analyst Ratings Changes

Several research firms have commented on JBL. UBS Group dropped 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. Bank of America decreased their price objective on shares of Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a research report on Friday. JPMorgan Chase & Co. cut their price target on Jabil from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, June 17th. The Goldman Sachs Group upped their price objective on Jabil from $141.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Finally, StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Two equities 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.63.

Insider Transactions at Jabil

In other Jabil news, SVP May Yee Yap sold 7,877 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $139.65, for a total transaction of $1,100,023.05. Following the completion of the sale, the senior vice president now directly owns 29,006 shares of the company’s stock, valued at approximately $4,050,687.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Gerald Creadon sold 3,000 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $135.62, for a total transaction of $406,860.00. Following the completion of the transaction, the executive vice president now directly owns 65,434 shares of the company’s stock, valued at $8,874,159.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP May Yee Yap sold 7,877 shares of Jabil stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $139.65, for a total value of $1,100,023.05. Following the completion of the sale, the senior vice president now directly owns 29,006 shares in the company, valued at approximately $4,050,687.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,877 shares of company stock worth $3,519,883. Company insiders own 2.62% of the company’s stock.

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).