Townsquare Capital LLC Sells 1,446 Shares of Jabil Inc. (NYSE:JBL)

Townsquare Capital LLC cut its stake in shares of Jabil Inc. (NYSE:JBL) by 22.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,997 shares of the technology company’s stock after selling 1,446 shares during the period. Townsquare Capital LLC’s holdings in Jabil were worth $599,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. HHM Wealth Advisors LLC purchased a new position in shares of Jabil during the 2nd quarter valued at about $28,000. Innealta Capital LLC bought a new stake in Jabil during the 2nd quarter worth approximately $31,000. Capital Performance Advisors LLP purchased a new position in Jabil during the third quarter valued at approximately $32,000. Family Firm Inc. bought a new position in shares of Jabil in the second quarter worth approximately $37,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Jabil in the third quarter worth $39,000. Institutional investors own 93.39% of the company’s stock.

Jabil Stock Performance

NYSE:JBL opened at $135.51 on Wednesday. The company has a market cap of $15.29 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 1.59 and a beta of 1.25. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94. The stock’s 50 day simple moving average is $126.75 and its two-hundred day simple moving average is $116.53. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.08. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The company had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.59 billion. During the same quarter in the previous year, the business posted $2.34 earnings per share. Jabil’s quarterly revenue was down 17.7% on a year-over-year basis. As a group, equities analysts anticipate that Jabil Inc. will post 7.84 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were given a $0.08 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.32 annualized dividend and a yield of 0.24%. Jabil’s dividend payout ratio is currently 2.90%.

Analysts Set New Price Targets

JBL has been the subject of several recent analyst reports. StockNews.com raised shares of Jabil from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 27th. Bank of America upped their price objective on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Barclays lifted their target price on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Stifel Nicolaus upped their price target on Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Jabil presently has an average rating of “Moderate Buy” and a consensus price target of $143.50.

Insiders Place Their Bets

In other Jabil news, Director Steven A. Raymund sold 20,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $124.70, for a total transaction of $2,494,000.00. Following the transaction, the director now owns 139,108 shares in the company, valued at $17,346,767.60. The trade was a 12.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Matthew Crowley sold 1,380 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $125.83, for a total transaction of $173,645.40. Following the completion of the sale, the executive vice president now owns 18,568 shares of the company’s stock, valued at $2,336,411.44. This trade represents a 6.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,689 shares of company stock valued at $5,377,431 over the last ninety days. 2.62% of the stock is owned by insiders.

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).