Pallas Capital Advisors LLC Makes New $246,000 Investment in Jabil Inc. (NYSE:JBL)

Pallas Capital Advisors LLC bought a new position in Jabil Inc. (NYSE:JBL) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,965 shares of the technology company’s stock, valued at approximately $246,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JBL. HHM Wealth Advisors LLC purchased a new stake in Jabil in the 2nd quarter worth approximately $28,000. ORG Partners LLC acquired a new position in shares of Jabil during the 1st quarter worth $29,000. Innealta Capital LLC acquired a new position in shares of Jabil during the 2nd quarter worth $31,000. Family Firm Inc. acquired a new position in shares of Jabil during the 2nd quarter worth $37,000. Finally, Matrix Trust Co increased its stake in shares of Jabil by 135.4% during the 3rd quarter. Matrix Trust Co now owns 372 shares of the technology company’s stock worth $45,000 after purchasing an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Insider Buying and Selling at Jabil

In other Jabil news, SVP Francis Mckay sold 11,755 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $121.71, for a total value of $1,430,701.05. Following the completion of the sale, the senior vice president now directly owns 41,507 shares of the company’s stock, valued at $5,051,816.97. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Francis Mckay sold 11,755 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the completion of the transaction, the senior vice president now directly owns 41,507 shares of the company’s stock, valued at approximately $5,051,816.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the executive vice president now directly owns 18,568 shares of the company’s stock, valued at $2,336,411.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,689 shares of company stock valued at $5,377,431 in the last ninety days. Company insiders own 2.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on JBL. Barclays increased their price target on shares of Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Stifel Nicolaus increased their price target on shares of Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. dropped their price target on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Finally, Bank of America raised their target price on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $143.50.

Jabil Stock Performance

NYSE:JBL opened at $127.67 on Friday. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94. The firm’s fifty day simple moving average is $115.99 and its 200 day simple moving average is $114.72. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $14.41 billion, a PE ratio of 11.59, a PEG ratio of 1.46 and a beta of 1.25.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.08. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.59 billion. During the same period in the prior year, the firm earned $2.34 EPS. The business’s revenue was down 17.7% on a year-over-year basis. On average, sell-side analysts anticipate that Jabil Inc. will post 7.84 EPS for the current year.

Jabil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Friday, November 15th. Jabil’s dividend payout ratio (DPR) is presently 2.90%.

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).