Deerfield Management Company L.P. Series C Takes Position in Jabil Inc. (NYSE:JBL)

Deerfield Management Company L.P. Series C acquired a new stake in Jabil Inc. (NYSE:JBL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 19,662 shares of the technology company’s stock, valued at approximately $2,139,000.

Other hedge funds have also made changes to their positions in the company. Benjamin Edwards Inc. purchased a new position in shares of Jabil in the 1st quarter valued at about $25,000. ORG Partners LLC purchased a new position in Jabil during the 1st quarter worth approximately $29,000. Riverview Trust Co purchased a new position in Jabil during the 1st quarter worth approximately $33,000. HHM Wealth Advisors LLC purchased a new position in Jabil during the 2nd quarter worth approximately $28,000. Finally, Innealta Capital LLC purchased a new position in Jabil during the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Insider Activity

In other news, SVP May Yee Yap sold 4,274 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total value of $500,228.96. Following the completion of 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 can be accessed through this link. In other news, SVP May Yee Yap sold 4,274 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total value of $500,228.96. Following the completion of 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 can be accessed through this link. Also, EVP Frederic E. Mccoy sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $116.42, for a total value of $145,525.00. Following the completion of the sale, the executive vice president now directly owns 112,753 shares of the company’s stock, valued at $13,126,704.26. The disclosure for this sale can be found here. Insiders own 2.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on JBL shares. Bank of America dropped their price target on Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. JPMorgan Chase & Co. dropped their price target on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Barclays dropped their price target on Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Stifel Nicolaus dropped their price target on Jabil from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Finally, UBS Group dropped their price target on Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, June 21st. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.88.

Jabil Stock Up 0.5 %

Jabil stock opened at $113.43 on Thursday. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $156.94. The stock has a 50 day moving average of $106.90 and a two-hundred day moving average of $116.83. 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 stock has a market capitalization of $12.87 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 2.23 and a beta of 1.25.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were issued a $0.08 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.28%. Jabil’s dividend payout ratio is currently 2.91%.

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).