Townsquare Capital LLC Has $749,000 Stock Holdings in Jabil Inc. (NYSE:JBL)

Townsquare Capital LLC grew its stake in Jabil Inc. (NYSE:JBL) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,204 shares of the technology company’s stock after purchasing an additional 207 shares during the quarter. Townsquare Capital LLC’s holdings in Jabil were worth $749,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Meyer Handelman Co. bought a new position in Jabil during the fourth quarter worth about $7,334,000. Davis Investment Partners LLC bought a new position in Jabil during the 4th quarter worth approximately $1,433,000. Truist Financial Corp boosted its stake in Jabil by 50.4% during the 4th quarter. Truist Financial Corp now owns 12,037 shares of the technology company’s stock worth $1,732,000 after acquiring an additional 4,034 shares during the last quarter. Merit Financial Group LLC bought a new stake in Jabil in the fourth quarter valued at approximately $235,000. Finally, Keybank National Association OH bought a new stake in Jabil in the fourth quarter valued at approximately $214,000. 93.39% of the stock is currently owned by institutional investors.

Jabil Stock Up 0.8 %

JBL stock opened at $134.97 on Friday. The company has a market cap of $14.49 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 1.65 and a beta of 1.12. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $174.80. The business has a 50 day moving average price of $142.95 and a two-hundred day moving average price of $141.38. 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) last issued its earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The business had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same period in the previous year, the company earned $1.68 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. Analysts anticipate that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend is Thursday, May 15th. Jabil’s dividend payout ratio (DPR) is presently 7.66%.

Insider Buying and Selling at Jabil

In other news, Director Christopher S. Holland sold 3,400 shares of the business’s stock in a transaction that occurred 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 completion of 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John C. Plant sold 50,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 5,900 shares in the company, valued at approximately $1,018,045. This trade represents a 89.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,400 shares of company stock worth $11,810,418 over the last 90 days. Company insiders own 1.73% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on JBL. JPMorgan Chase & Co. reduced their target price on Jabil from $175.00 to $154.00 and set an “overweight” rating on the stock in a report on Thursday. Barclays boosted their price objective on Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. UBS Group raised their target price on shares of Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. The Goldman Sachs Group reduced their price target on shares of Jabil from $175.00 to $146.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, StockNews.com lowered shares of Jabil from a “buy” rating to a “hold” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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).