Huntington National Bank Decreases Position in Jabil Inc. (NYSE:JBL)

Huntington National Bank decreased its position in Jabil Inc. (NYSE:JBL) by 55.3% during the 4th quarter, Holdings Channel reports. The firm owned 2,424 shares of the technology company’s stock after selling 2,994 shares during the quarter. Huntington National Bank’s holdings in Jabil were worth $349,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in Jabil during the 4th quarter valued at about $27,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Jabil during the 4th quarter worth approximately $29,000. Millstone Evans Group LLC acquired a new position in shares of Jabil during the 4th quarter worth approximately $37,000. First Horizon Advisors Inc. lifted its stake in Jabil by 90.3% in the 4th 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 in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Jabil by 113.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the technology company’s stock valued at $43,000 after buying an additional 158 shares during the last quarter. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Insider Buying and Selling

In related news, Director Christopher S. Holland sold 3,400 shares of the company’s stock in a transaction on Friday, January 31st. The shares were 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 directly owns 12,900 shares of the company’s stock, valued at approximately $2,093,283. This represents a 20.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John C. Plant sold 50,000 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $172.55, for a total value of $8,627,500.00. Following the completion of the transaction, the director now directly owns 5,900 shares in the company, valued at $1,018,045. This trade represents a 89.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,400 shares of company stock valued at $12,205,218. 1.73% of the stock is currently owned by corporate insiders.

Jabil Price Performance

Jabil stock opened at $117.13 on Friday. 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 quick ratio of 0.72 and a current ratio of 1.06. The firm has a 50 day moving average price of $150.60 and a 200 day moving average price of $140.24. The company has a market cap of $12.79 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.65 and a beta of 1.12.

Jabil (NYSE:JBL) last released its quarterly earnings data on Thursday, March 20th. The technology company reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.11. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The business had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.40 billion. During the same period in the prior year, the firm posted $1.68 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts predict that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil’s payout ratio is currently 7.66%.

Analysts Set New Price Targets

JBL has been the topic of several recent research reports. The Goldman Sachs Group upped their price objective on Jabil from $160.00 to $179.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Barclays upped their target price on shares of Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a report on Friday, March 21st. UBS Group lifted their price target on shares of Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Stifel Nicolaus reissued a “buy” rating and set a $160.00 price objective (up previously from $150.00) on shares of Jabil in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. lifted their target price 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. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Jabil currently has an average rating of “Moderate Buy” and an average target price of $167.50.

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).