Verdence Capital Advisors LLC Decreases Position in Jabil Inc. (NYSE:JBL)

Verdence Capital Advisors LLC decreased its position in Jabil Inc. (NYSE:JBL) by 47.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,340 shares of the technology company’s stock after selling 2,077 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Jabil were worth $298,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. CVA Family Office LLC purchased a new position in shares of Jabil in the fourth quarter valued at about $36,000. Valley National Advisers Inc. purchased a new position in shares of Jabil in the fourth quarter valued at about $36,000. Hanseatic Management Services Inc. purchased a new position in shares of Jabil in the third quarter valued at about $48,000. Ceredex Value Advisors LLC purchased a new position in shares of Jabil in the third quarter valued at about $51,000. Finally, Allworth Financial LP increased its position in shares of Jabil by 745.8% in the fourth quarter. Allworth Financial LP now owns 406 shares of the technology company’s stock valued at $52,000 after acquiring an additional 358 shares during the period. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Jabil Trading Up 1.5 %

NYSE:JBL opened at $120.89 on Wednesday. Jabil Inc. has a one year low of $75.48 and a one year high of $156.94. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.17 and a quick ratio of 0.72. The company’s 50-day simple moving average is $137.25 and its 200 day simple moving average is $131.02. The firm has a market capitalization of $14.58 billion, a P/E ratio of 10.38, a PEG ratio of 1.27 and a beta of 1.40.

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

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. Jabil’s dividend payout ratio is presently 2.75%.

Insider Transactions at Jabil

In other news, Director David M. Stout sold 31,300 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $123.12, for a total value of $3,853,656.00. Following the transaction, the director now owns 67,300 shares in the company, valued at $8,285,976. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Gerald Creadon sold 3,000 shares of the company’s 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 transaction, the executive vice president now owns 65,434 shares in the company, valued at $8,874,159.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David M. Stout sold 31,300 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $123.12, for a total transaction of $3,853,656.00. Following the transaction, the director now directly owns 67,300 shares of the company’s stock, valued at $8,285,976. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 107,177 shares of company stock worth $13,678,039. Corporate insiders own 2.62% of the company’s stock.

Wall Street Analysts Forecast Growth

JBL has been the topic of a number of analyst reports. The Goldman Sachs Group boosted their price objective on shares of Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Argus lowered shares of Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. StockNews.com raised shares of Jabil from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Barclays cut their target price on shares of Jabil from $151.00 to $149.00 and set an “overweight” rating on the stock in a research note on Monday, March 18th. One research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $144.50.

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).