Brooklyn Investment Group Invests $39,000 in Jabil Inc. (NYSE:JBL)

Brooklyn Investment Group acquired a new position in shares of Jabil Inc. (NYSE:JBL) in the 3rd quarter, Holdings Channel reports. The fund acquired 327 shares of the technology company’s stock, valued at approximately $39,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tidal Investments LLC lifted its position in Jabil by 39.7% during the first quarter. Tidal Investments LLC now owns 14,282 shares of the technology company’s stock valued at $1,913,000 after purchasing an additional 4,056 shares during the period. Comerica Bank lifted its position in Jabil by 68.5% during the first quarter. Comerica Bank now owns 42,709 shares of the technology company’s stock valued at $5,721,000 after purchasing an additional 17,355 shares during the period. iA Global Asset Management Inc. acquired a new position in Jabil during the first quarter valued at $233,000. Swedbank AB acquired a new position in Jabil during the first quarter valued at $5,680,000. Finally, Atria Investments Inc lifted its position in Jabil by 11.2% during the first quarter. Atria Investments Inc now owns 12,051 shares of the technology company’s stock valued at $1,614,000 after purchasing an additional 1,211 shares during the period. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Jabil

In related news, SVP Francis Mckay sold 11,755 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the completion of the sale, the senior vice president now owns 41,507 shares of the company’s stock, valued at approximately $5,051,816.97. This represents a 22.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Frederic E. Mccoy sold 4,283 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $122.28, for a total transaction of $523,725.24. Following the sale, the executive vice president now directly owns 142,472 shares of the company’s stock, valued at approximately $17,421,476.16. This represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,689 shares of company stock valued at $5,377,431 over the last 90 days. Corporate insiders own 2.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on JBL. StockNews.com upgraded shares of Jabil from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Barclays upped their price objective on shares of Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. decreased their price objective on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Stifel Nicolaus upped their price objective on shares of Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, Bank of America upped their price objective on shares of Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Jabil has a consensus rating of “Moderate Buy” and an average target price of $143.50.

Jabil Stock Up 1.9 %

JBL stock opened at $135.83 on Friday. The stock has a market capitalization of $15.33 billion, a P/E ratio of 12.33, a P/E/G ratio of 1.57 and a beta of 1.24. The firm has a 50-day simple moving average of $125.87 and a 200-day simple moving average of $116.27. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. Jabil Inc. has a 52 week low of $95.85 and a 52 week high of $156.94.

Jabil (NYSE:JBL) last released its earnings results on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.08. The business had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.59 billion. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The company’s quarterly revenue was down 17.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.34 earnings per share. Equities analysts forecast that Jabil Inc. will post 7.84 earnings per share for the current fiscal year.

Jabil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. Jabil’s dividend payout ratio is currently 2.90%.

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).