Jabil Inc. (NYSE:JBL) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia reduced its holdings in shares of Jabil Inc. (NYSE:JBL) by 92.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,079 shares of the technology company’s stock after selling 189,284 shares during the period. Bank of Nova Scotia’s holdings in Jabil were worth $2,170,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Jabil during the fourth quarter worth $27,000. Murphy & Mullick Capital Management Corp purchased a new stake in Jabil during the 4th quarter worth about $29,000. Millstone Evans Group LLC acquired a new stake in Jabil in the 4th quarter valued at about $37,000. First Horizon Advisors Inc. boosted its stake in shares of Jabil by 90.3% in the 4th quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company’s stock valued at $39,000 after buying an additional 130 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in shares of Jabil by 113.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 297 shares of the technology company’s stock worth $43,000 after buying an additional 158 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Jabil Stock Performance

NYSE JBL opened at $131.85 on Monday. The company has a fifty day moving average of $146.05 and a two-hundred day moving average of $141.18. The company has a market capitalization of $14.40 billion, a PE ratio of 12.64, a P/E/G ratio of 1.65 and a beta of 1.12. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $174.80. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72.

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

Jabil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil’s payout ratio is currently 7.66%.

Insider Activity

In related news, Director John C. Plant sold 50,000 shares of Jabil stock in a transaction on Friday, January 24th. The shares were sold at an average price of $172.55, for a total value of $8,627,500.00. Following the transaction, the director now directly owns 5,900 shares in the company, valued at $1,018,045. This trade represents a 89.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Christopher S. Holland sold 3,400 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $162.27, for a total transaction of $551,718.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Corporate insiders own 1.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on JBL shares. JPMorgan Chase & Co. raised their target price on shares of Jabil from $172.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, March 21st. The Goldman Sachs Group reduced their price objective on shares of Jabil from $175.00 to $146.00 and set a “buy” rating on the stock in a report on Thursday. UBS Group boosted their target price on shares of Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Stifel Nicolaus restated a “buy” rating and issued a $160.00 price target (up from $150.00) on shares of Jabil in a research note on Thursday, December 19th. Finally, StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a report on Friday, March 21st. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.00.

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).