MJP Associates Inc. ADV Sells 4,729 Shares of Jabil Inc. (NYSE:JBL)

MJP Associates Inc. ADV lessened its holdings in Jabil Inc. (NYSE:JBL - Free Report) by 75.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,523 shares of the technology company's stock after selling 4,729 shares during the period. MJP Associates Inc. ADV's holdings in Jabil were worth $219,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Meyer Handelman Co. bought a new stake in Jabil during the fourth quarter worth about $7,334,000. Davis Investment Partners LLC bought a new stake in shares of Jabil during the fourth quarter valued at approximately $1,433,000. Truist Financial Corp grew its stake in shares of Jabil by 50.4% during the fourth quarter. Truist Financial Corp now owns 12,037 shares of the technology company's stock valued at $1,732,000 after purchasing an additional 4,034 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of Jabil during the fourth quarter valued at approximately $235,000. Finally, Keybank National Association OH bought a new stake in shares of Jabil during the fourth quarter valued at approximately $214,000. 93.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

JBL has been the topic of several research analyst reports. StockNews.com cut shares of Jabil from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. JPMorgan Chase & Co. decreased their price target on shares of Jabil from $175.00 to $154.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Barclays increased their price target on shares of Jabil from $179.00 to $184.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. UBS Group increased their price objective on shares of Jabil from $152.00 to $157.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Finally, The Goldman Sachs Group cut 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, April 10th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Jabil has an average rating of "Moderate Buy" and an average target price of $158.50.

Insider Buying and Selling

In related news, Chairman Mark T. Mondello sold 20,000 shares of the firm's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $131.56, for a total value of $2,631,200.00. Following the completion of the transaction, the chairman now owns 1,730,192 shares of the company's stock, valued at approximately $227,624,059.52. This trade represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Dastoor sold 10,000 shares of the firm's stock in a transaction on 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 trade represents a 4.32% decrease in their position. The disclosure for this sale can be found here. 1.73% of the stock is currently owned by company insiders.

Jabil Trading Up 0.8%

NYSE JBL traded up $1.35 during trading hours on Friday, hitting $167.88. The company's stock had a trading volume of 828,016 shares, compared to its average volume of 1,442,965. The stock has a fifty day moving average of $140.67 and a 200 day moving average of $144.88. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $174.80. The firm has a market capitalization of $18.02 billion, a P/E ratio of 16.10, a PEG ratio of 1.65 and a beta of 1.11. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81.

Jabil (NYSE:JBL - Get Free Report) last posted its earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same period last year, the business posted $1.68 earnings per share. The business's revenue for the quarter was down .6% compared to the same quarter last year. Equities research analysts forecast 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 will be paid on Tuesday, June 3rd. Investors of record on Thursday, May 15th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.19%. Jabil's payout ratio is 7.66%.

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).