Cynosure Group LLC Sells 999 Shares of Jabil Inc. (NYSE:JBL)

Cynosure Group LLC cut its stake in shares of Jabil Inc. (NYSE:JBL) by 30.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,301 shares of the technology company’s stock after selling 999 shares during the quarter. Cynosure Group LLC’s holdings in Jabil were worth $331,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new stake in shares of Jabil in the 4th quarter valued at approximately $27,000. Murphy & Mullick Capital Management Corp acquired a new stake in Jabil in the fourth quarter valued at $29,000. Millstone Evans Group LLC bought a new position in shares of Jabil in the 4th quarter valued at about $37,000. First Horizon Advisors Inc. increased its stake in shares of Jabil by 90.3% during the 4th quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company’s stock worth $39,000 after purchasing an additional 130 shares during the last quarter. Finally, GHP Investment Advisors Inc. bought a new stake in shares of Jabil in the 4th quarter valued at about $43,000. 93.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on JBL shares. StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a report on Friday, March 21st. Stifel Nicolaus reiterated a “buy” rating and set a $160.00 target price (up from $150.00) on shares of Jabil in a research note on Thursday, December 19th. The Goldman Sachs Group increased their price target on Jabil from $160.00 to $179.00 and gave the company a “buy” rating in a research note on Monday, February 24th. UBS Group raised their price target on Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Jabil from $172.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.50.

Insider Buying and Selling

In other Jabil news, Director Christopher S. Holland sold 3,400 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $162.27, for a total transaction of $551,718.00. Following the sale, the director now directly owns 12,900 shares in the company, valued at $2,093,283. This represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John C. Plant sold 50,000 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $172.55, for a total transaction of $8,627,500.00. Following the completion of the transaction, the director now directly owns 5,900 shares in the company, valued at approximately $1,018,045. This represents a 89.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,400 shares of company stock valued at $12,804,458 over the last 90 days. 1.73% of the stock is owned by corporate insiders.

Jabil Stock Performance

JBL opened at $138.87 on Thursday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72. The company has a market capitalization of $15.16 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 1.65 and a beta of 1.19. The business has a fifty day simple moving average of $152.69 and a 200 day simple moving average of $140.28. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $174.80.

Jabil (NYSE:JBL) last released its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.11. The business had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.40 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. Jabil’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm earned $1.68 earnings per share. Research analysts expect that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil’s dividend payout ratio (DPR) is currently 7.66%.

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).