NorthRock Partners LLC Takes $305,000 Position in Jabil Inc. (NYSE:JBL)

NorthRock Partners LLC acquired a new stake in Jabil Inc. (NYSE:JBL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,118 shares of the technology company's stock, valued at approximately $305,000.

A number of other hedge funds have also added to or reduced their stakes in JBL. Barclays PLC grew its stake in Jabil by 33.5% in the third quarter. Barclays PLC now owns 327,969 shares of the technology company's stock worth $39,300,000 after purchasing an additional 82,312 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Jabil by 1.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 159,058 shares of the technology company's stock valued at $22,888,000 after buying an additional 1,743 shares during the period. Park Avenue Securities LLC raised its holdings in shares of Jabil by 127.5% in the fourth quarter. Park Avenue Securities LLC now owns 5,595 shares of the technology company's stock valued at $805,000 after acquiring an additional 3,136 shares in the last quarter. Gateway Investment Advisers LLC lifted its stake in Jabil by 66.5% in the fourth quarter. Gateway Investment Advisers LLC now owns 5,227 shares of the technology company's stock worth $752,000 after acquiring an additional 2,088 shares during the period. Finally, Ritholtz Wealth Management grew its holdings in Jabil by 2.1% during the 4th quarter. Ritholtz Wealth Management now owns 15,105 shares of the technology company's stock worth $2,174,000 after acquiring an additional 309 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Michael Dastoor sold 10,000 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $169.90, for a total value of $1,699,000.00. Following the sale, the chief executive officer now owns 221,693 shares in the company, valued at $37,665,640.70. This represents a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark T. Mondello sold 20,000 shares of the business's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $131.56, for a total transaction of $2,631,200.00. Following the transaction, the chairman now owns 1,730,192 shares of the company's stock, valued at $227,624,059.52. This represents a 1.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.73% of the stock is currently owned by company insiders.

Jabil Stock Down 1.4%

JBL stock traded down $2.34 on Wednesday, hitting $165.17. 764,612 shares of the company's stock were exchanged, compared to its average volume of 1,431,597. The firm has a 50 day moving average price of $142.79 and a two-hundred day moving average price of $145.91. Jabil Inc. has a 12-month low of $95.85 and a 12-month high of $174.80. The stock has a market cap of $17.73 billion, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 1.65 and a beta of 1.11. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06.

Jabil (NYSE:JBL - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.11. The firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.40 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company's revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.68 earnings per share. As a group, equities research analysts expect that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Thursday, May 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.19%. The ex-dividend date of this dividend is Thursday, May 15th. Jabil's payout ratio is 7.66%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. StockNews.com raised shares of Jabil from a "hold" rating to a "buy" rating in a research report on Monday. UBS Group boosted their price objective 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. Barclays increased their target price on Jabil from $179.00 to $184.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. The Goldman Sachs Group reduced their price target on Jabil from $175.00 to $146.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. dropped their price objective on Jabil from $175.00 to $154.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Jabil has a consensus rating of "Moderate Buy" and a consensus target price of $158.50.

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).