Spire Wealth Management Reduces Holdings in Jabil Inc. (NYSE:JBL)

Spire Wealth Management lessened its position in Jabil Inc. (NYSE:JBL) by 5.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,633 shares of the technology company’s stock after selling 930 shares during the quarter. Spire Wealth Management’s holdings in Jabil were worth $2,072,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in JBL. Commonwealth Equity Services LLC grew its holdings in shares of Jabil by 5.5% in the third quarter. Commonwealth Equity Services LLC now owns 29,966 shares of the technology company’s stock worth $3,802,000 after purchasing an additional 1,561 shares during the last quarter. Forsta AP Fonden purchased a new position in shares of Jabil during the third quarter worth approximately $3,553,000. Mackenzie Financial Corp boosted its holdings in shares of Jabil by 63.8% in the third quarter. Mackenzie Financial Corp now owns 10,168 shares of the technology company’s stock valued at $1,297,000 after purchasing an additional 3,960 shares during the period. Brighton Jones LLC grew its stake in Jabil by 9.0% in the third quarter. Brighton Jones LLC now owns 2,620 shares of the technology company’s stock worth $332,000 after purchasing an additional 217 shares in the last quarter. Finally, IFM Investors Pty Ltd purchased a new position in Jabil during the 3rd quarter worth $3,183,000. 93.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on JBL shares. Barclays dropped their price target on Jabil from $151.00 to $149.00 and set an “overweight” rating on the stock in a research report on Monday, March 18th. StockNews.com raised shares of Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Argus lowered shares of Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, The Goldman Sachs Group upped their target price on Jabil from $141.00 to $161.00 and gave the stock a “buy” rating in a report on Monday, March 4th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $144.50.

Insider Activity at Jabil

In other Jabil news, SVP May Yee Yap sold 7,877 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 29,006 shares in the company, valued at approximately $4,050,687.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Gerald Creadon sold 3,000 shares of the business’s stock in a transaction on 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 in the company, valued at $8,874,159.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP May Yee Yap sold 7,877 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $139.65, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 75,877 shares of company stock valued at $9,824,383 in the last ninety days. Company insiders own 2.62% of the company’s stock.

Jabil Stock Down 0.8 %

JBL stock traded down $0.97 on Tuesday, hitting $118.00. 67,320 shares of the company’s stock were exchanged, compared to its average volume of 1,361,973. The firm has a 50 day moving average price of $133.37 and a two-hundred day moving average price of $129.88. Jabil Inc. has a 12-month low of $77.22 and a 12-month high of $156.94. The stock has a market cap of $14.23 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 1.25 and a beta of 1.42. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.72 and a current ratio of 1.17.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Friday, March 15th. The technology company reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.01). The business had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.91 billion. Jabil had a return on equity of 39.47% and a net margin of 4.70%. As a group, equities research analysts expect that Jabil Inc. will post 7.83 EPS for the current fiscal year.

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date is Tuesday, May 14th. Jabil’s dividend payout ratio (DPR) is presently 2.75%.

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).