Procyon Advisors LLC Boosts Position in Jabil Inc. (NYSE:JBL)

Procyon Advisors LLC grew its stake in shares of Jabil Inc. (NYSE:JBL - Free Report) by 440.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,896 shares of the technology company's stock after buying an additional 8,065 shares during the period. Procyon Advisors LLC's holdings in Jabil were worth $1,347,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of JBL. SBI Securities Co. Ltd. bought a new stake in Jabil during the 4th quarter worth approximately $27,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Jabil in the fourth quarter worth $29,000. Millstone Evans Group LLC purchased a new stake in shares of Jabil in the fourth quarter worth $37,000. First Horizon Advisors Inc. boosted its stake in Jabil by 90.3% during the fourth 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, GHP Investment Advisors Inc. purchased a new position in Jabil during the fourth quarter worth about $43,000. 93.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Michael Dastoor sold 10,000 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $169.90, for a total transaction of $1,699,000.00. Following the completion of the transaction, the chief executive officer now directly owns 221,693 shares of the company's stock, valued at approximately $37,665,640.70. This represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Mark T. Mondello sold 20,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $166.75, for a total value of $3,335,000.00. Following the completion of the sale, the chairman now directly owns 1,710,192 shares in the company, valued at $285,174,516. The trade was a 1.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,000 shares of company stock valued at $7,665,200. Insiders own 1.73% of the company's stock.

Jabil Trading Up 2.5%

JBL stock opened at $176.93 on Friday. The company has a market capitalization of $18.99 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 1.65 and a beta of 1.14. 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 Inc. has a one year low of $95.85 and a one year high of $177.00. The company's 50 day moving average price is $150.17 and its two-hundred day moving average price is $149.16.

Jabil (NYSE:JBL - Get Free Report) last released its earnings results on Thursday, March 20th. The technology company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.83 by $0.11. The company 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%. The firm's quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.68 EPS. As a group, analysts predict that Jabil Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.18%. Jabil's dividend payout ratio is currently 7.66%.

Analyst Ratings Changes

JBL has been the topic of several recent analyst reports. The Goldman Sachs Group lowered their price target on Jabil from $175.00 to $146.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Wall Street Zen raised shares of Jabil from a "hold" rating to a "buy" rating in a research note on Monday, May 19th. Barclays boosted their price target on shares of Jabil from $179.00 to $184.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. JPMorgan Chase & Co. lowered their price objective on shares of Jabil from $175.00 to $154.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Finally, UBS Group lifted their price objective on shares of Jabil from $152.00 to $157.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Jabil currently has a consensus rating of "Moderate Buy" and an average price target of $158.50.

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).

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