Cypress Capital Group Takes $975,000 Position in Jabil Inc. (NYSE:JBL)

Cypress Capital Group bought a new stake in Jabil Inc. (NYSE:JBL) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,773 shares of the technology company’s stock, valued at approximately $975,000.

A number of other hedge funds have also modified their holdings of the business. SBI Securities Co. Ltd. acquired a new stake in Jabil during the fourth quarter worth about $27,000. Capital Performance Advisors LLP acquired a new stake in Jabil during the third quarter worth about $32,000. Brooklyn Investment Group acquired a new stake in Jabil during the third quarter worth about $39,000. First Horizon Advisors Inc. increased its position in Jabil by 90.3% during the fourth quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company’s stock worth $39,000 after purchasing an additional 130 shares during the last quarter. Finally, GHP Investment Advisors Inc. acquired a new stake in Jabil during the fourth quarter worth about $43,000. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Frederic E. Mccoy sold 4,000 shares of Jabil stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $149.81, for a total value of $599,240.00. Following the transaction, the executive vice president now directly owns 138,472 shares of the company’s stock, valued at $20,744,490.32. The trade was a 2.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Christopher S. Holland sold 3,400 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $162.27, for a total transaction of $551,718.00. Following the sale, the director now owns 12,900 shares in the company, valued at $2,093,283. The trade was a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,400 shares of company stock valued at $12,804,458 in the last ninety days. 1.73% of the stock is currently owned by company insiders.

Jabil Stock Up 1.1 %

JBL stock opened at $143.13 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $174.80. The company’s 50 day moving average is $158.74 and its two-hundred day moving average is $135.67. The stock has a market cap of $15.63 billion, a P/E ratio of 13.72, a PEG ratio of 1.65 and a beta of 1.19.

Jabil (NYSE:JBL) last released its quarterly earnings data on Wednesday, December 18th. The technology company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.12. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $6.61 billion. During the same quarter last year, the company earned $2.60 earnings per share. The firm’s revenue for the quarter was down 16.6% on a year-over-year basis. Research analysts expect that Jabil Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a $0.08 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.22%. Jabil’s payout ratio is 3.07%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. UBS Group raised their price objective on shares of Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Stifel Nicolaus reissued a “buy” rating and issued a $160.00 price objective (up previously from $150.00) on shares of Jabil in a research note on Thursday, December 19th. Barclays raised their price objective on shares of Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. The Goldman Sachs Group lifted their price target on shares of Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Finally, StockNews.com downgraded shares of Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Jabil has an average rating of “Moderate Buy” and a consensus target price of $158.83.

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).