Rockland Trust Co. Sells 578 Shares of Jabil Inc. (NYSE:JBL)

Rockland Trust Co. trimmed its stake in Jabil Inc. (NYSE:JBL) by 16.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,870 shares of the technology company’s stock after selling 578 shares during the quarter. Rockland Trust Co.’s holdings in Jabil were worth $413,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in shares of Jabil in the 3rd quarter valued at about $32,000. Brooklyn Investment Group acquired a new position in Jabil during the third quarter worth approximately $39,000. Matrix Trust Co raised its stake in Jabil by 135.4% in the third quarter. Matrix Trust Co now owns 372 shares of the technology company’s stock valued at $45,000 after buying an additional 214 shares during the period. Armstrong Advisory Group Inc. lifted its position in shares of Jabil by 114.0% in the third quarter. Armstrong Advisory Group Inc. now owns 428 shares of the technology company’s stock valued at $51,000 after buying an additional 228 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its stake in shares of Jabil by 945.7% during the 3rd quarter. Sound Income Strategies LLC now owns 481 shares of the technology company’s stock worth $58,000 after acquiring an additional 435 shares during the period. Institutional investors and hedge funds own 93.39% of the company’s stock.

Jabil Stock Up 1.5 %

NYSE JBL opened at $158.25 on Thursday. 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 company has a market cap of $17.68 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 1.58 and a beta of 1.23. The company has a 50 day moving average of $139.30 and a 200-day moving average of $122.25. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $159.60.

Jabil (NYSE:JBL) last released its earnings results on Wednesday, December 18th. The technology company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.12. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The firm had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $6.61 billion. During the same period in the prior year, the company posted $2.60 EPS. The company’s revenue was down 16.6% compared to the same quarter last year. On average, equities research analysts expect that Jabil Inc. will post 7.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Barclays raised their price target on Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a report on Friday, December 20th. The Goldman Sachs Group lifted their target price on shares of Jabil from $136.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. StockNews.com cut shares of Jabil from a “buy” rating to a “hold” rating in a report on Monday. Bank of America boosted their price objective on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, UBS Group increased their target price on Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Jabil currently has a consensus rating of “Moderate Buy” and an average target price of $153.17.

Insiders Place Their Bets

In related news, EVP Matthew Crowley sold 1,380 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $125.83, for a total transaction of $173,645.40. Following the sale, the executive vice president now owns 18,568 shares in the company, valued at approximately $2,336,411.44. This trade represents a 6.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven A. Raymund sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $151.30, for a total transaction of $3,026,000.00. Following the transaction, the director now owns 119,108 shares of the company’s stock, valued at approximately $18,021,040.40. This represents a 14.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,689 shares of company stock worth $8,527,871 over the last ninety days. Corporate insiders own 1.73% of the company’s stock.

Jabil 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).