Paralel Advisors LLC Has $2.70 Million Stock Position in Jabil Inc. (NYSE:JBL)

Paralel Advisors LLC boosted its position in Jabil Inc. (NYSE:JBL) by 10.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 18,782 shares of the technology company’s stock after purchasing an additional 1,704 shares during the period. Paralel Advisors LLC’s holdings in Jabil were worth $2,703,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new position in shares of Jabil during the fourth quarter worth approximately $27,000. Murphy & Mullick Capital Management Corp acquired a new position in Jabil in the fourth quarter valued at $29,000. Millstone Evans Group LLC acquired a new position in Jabil in the fourth quarter valued at $37,000. First Horizon Advisors Inc. lifted its holdings in Jabil by 90.3% in 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, Smartleaf Asset Management LLC increased its stake in Jabil by 113.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 297 shares of the technology company’s stock valued at $43,000 after purchasing an additional 158 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on JBL. Barclays boosted their target price on shares of Jabil from $179.00 to $184.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Stifel Nicolaus reiterated a “buy” rating and issued a $160.00 target price (up previously from $150.00) on shares of Jabil in a research report on Thursday, December 19th. JPMorgan Chase & Co. boosted their price objective on shares of Jabil from $172.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. StockNews.com raised shares of Jabil from a “hold” rating to a “buy” rating in a report on Friday, March 21st. Finally, The Goldman Sachs Group upped their target price on shares of Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Jabil currently has an average rating of “Moderate Buy” and an average target price of $167.50.

Insider Transactions at Jabil

In other news, Director John C. Plant sold 50,000 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $172.55, for a total value of $8,627,500.00. Following the completion of the sale, the director now owns 5,900 shares in the company, valued at $1,018,045. This represents a 89.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher S. Holland sold 3,400 shares of the 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 transaction, the director now owns 12,900 shares in the company, valued at approximately $2,093,283. This trade represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,400 shares of company stock valued at $12,205,218 over the last three months. 1.73% of the stock is currently owned by insiders.

Jabil Stock Performance

JBL traded down $4.54 during trading on Thursday, reaching $132.84. 90,638 shares of the company’s stock were exchanged, compared to its average volume of 1,467,676. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $174.80. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72. The stock has a market capitalization of $14.50 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 1.65 and a beta of 1.12. The company’s fifty day simple moving average is $147.20 and its 200-day simple moving average is $140.82.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.83 by $0.11. The company had revenue of $6.73 billion during 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 revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.68 EPS. As a group, research analysts predict that Jabil Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil’s payout ratio is 7.66%.

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).