Patriot Investment Management Group Inc. Sells 1,089 Shares of Jabil Inc. (NYSE:JBL)

Patriot Investment Management Group Inc. lowered its stake in Jabil Inc. (NYSE:JBL) by 19.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,434 shares of the technology company’s stock after selling 1,089 shares during the period. Patriot Investment Management Group Inc.’s holdings in Jabil were worth $638,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pacer Advisors Inc. raised its position in Jabil by 12,251.7% in the third quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock valued at $264,391,000 after purchasing an additional 2,188,521 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Jabil by 195.8% in the second quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock valued at $115,404,000 after acquiring an additional 702,199 shares during the last quarter. Two Sigma Advisers LP grew its holdings in Jabil by 406.5% in the third quarter. Two Sigma Advisers LP now owns 722,800 shares of the technology company’s stock worth $86,613,000 after purchasing an additional 580,100 shares during the period. FMR LLC raised its holdings in shares of Jabil by 11.3% during the third quarter. FMR LLC now owns 5,116,308 shares of the technology company’s stock valued at $613,087,000 after purchasing an additional 520,672 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Jabil by 595.5% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 343,137 shares of the technology company’s stock worth $41,118,000 after purchasing an additional 293,801 shares in the last quarter. Institutional investors own 93.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on JBL shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $160.00 target price (up from $150.00) on shares of Jabil in a research report on Thursday, December 19th. StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a report on Tuesday. UBS Group boosted their price target on shares of Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Bank of America raised their price objective on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, The Goldman Sachs Group raised their price target on shares of Jabil from $136.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Jabil presently has a consensus rating of “Moderate Buy” and an average price target of $153.17.

Jabil Stock Up 1.4 %

Shares of NYSE JBL opened at $171.37 on Friday. The business has a 50-day simple moving average of $143.58 and a two-hundred day simple moving average of $124.78. Jabil Inc. has a 52 week low of $95.85 and a 52 week high of $171.55. The company has a market cap of $18.71 billion, a P/E ratio of 16.43, a P/E/G ratio of 1.68 and a beta of 1.23. 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 announced its earnings results on Wednesday, December 18th. The technology company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $6.61 billion. During the same period in the previous year, the business earned $2.60 earnings per share. The firm’s quarterly revenue was down 16.6% compared to the same quarter last year. Research analysts anticipate that Jabil Inc. will post 8.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Jabil news, SVP Francis Mckay sold 11,755 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $121.71, for a total value of $1,430,701.05. Following the completion of the sale, the senior vice president now directly owns 41,507 shares of the company’s stock, valued at $5,051,816.97. The trade was a 22.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $151.30, for a total transaction of $3,026,000.00. Following the transaction, the director now directly owns 119,108 shares in the company, valued at approximately $18,021,040.40. The trade was a 14.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,038 shares of company stock worth $5,579,666 in the last quarter. 1.73% of the stock is owned by insiders.

Jabil 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).