Sawgrass Asset Management LLC Sells 623 Shares of Jabil Inc. (NYSE:JBL)

Sawgrass Asset Management LLC reduced its position in Jabil Inc. (NYSE:JBL) by 20.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,476 shares of the technology company’s stock after selling 623 shares during the period. Sawgrass Asset Management LLC’s holdings in Jabil were worth $315,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in JBL. FMR LLC increased its position in shares of Jabil by 15.9% during the third quarter. FMR LLC now owns 10,525,084 shares of the technology company’s stock valued at $1,335,528,000 after buying an additional 1,440,857 shares during the period. Artisan Partners Limited Partnership bought a new stake in shares of Jabil during the third quarter valued at about $124,319,000. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Jabil during the third quarter valued at about $57,818,000. Ceredex Value Advisors LLC increased its position in shares of Jabil by 72,212.5% during the fourth quarter. Ceredex Value Advisors LLC now owns 289,250 shares of the technology company’s stock valued at $36,850,000 after buying an additional 288,850 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Jabil during the third quarter valued at about $35,172,000. 93.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Jabil news, Chairman Mark T. Mondello sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $126.09, for a total value of $6,304,500.00. Following the completion of the sale, the chairman now owns 1,809,194 shares of the company’s stock, valued at $228,121,271.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Chairman Mark T. Mondello sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $126.09, for a total transaction of $6,304,500.00. Following the completion of the sale, the chairman now owns 1,809,194 shares of the company’s stock, valued at $228,121,271.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Gerald Creadon sold 3,000 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $135.62, for a total value of $406,860.00. Following the sale, the executive vice president now directly owns 65,434 shares of the company’s stock, valued at approximately $8,874,159.08. The disclosure for this sale can be found here. Insiders sold a total of 75,877 shares of company stock valued at $9,824,383 over the last quarter. 2.62% of the stock is owned by corporate insiders.

Jabil Price Performance

JBL traded down $1.54 during midday trading on Tuesday, hitting $117.43. The stock had a trading volume of 1,331,380 shares, compared to its average volume of 1,376,549. The company has a market cap of $14.16 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 1.25 and a beta of 1.42. The business has a fifty day moving average of $133.37 and a 200 day moving average of $129.88. 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 Inc. has a 1 year low of $77.22 and a 1 year high of $156.94.

Jabil (NYSE:JBL) last issued its earnings results on Friday, March 15th. The technology company reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.01). The firm had revenue of $6.77 billion during 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 analysts forecast that Jabil Inc. will post 7.83 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 15th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.27%. The ex-dividend date is Tuesday, May 14th. Jabil’s dividend payout ratio is currently 2.75%.

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).