Hood River Capital Management LLC Has $3.49 Million Position in Jabil Inc. (NYSE:JBL)

Hood River Capital Management LLC reduced its position in shares of Jabil Inc. (NYSE:JBLGet Rating) by 47.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,579 shares of the technology company’s stock after selling 50,853 shares during the quarter. Hood River Capital Management LLC’s holdings in Jabil were worth $3,493,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Invesco Ltd. raised its stake in Jabil by 230.6% during the 1st quarter. Invesco Ltd. now owns 1,863,230 shares of the technology company’s stock valued at $115,018,000 after purchasing an additional 1,299,593 shares during the period. Hsbc Holdings PLC increased its stake in shares of Jabil by 50.7% in the first quarter. Hsbc Holdings PLC now owns 63,448 shares of the technology company’s stock worth $3,946,000 after acquiring an additional 21,334 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Jabil in the first quarter worth $4,766,000. Verition Fund Management LLC increased its stake in shares of Jabil by 184.6% in the first quarter. Verition Fund Management LLC now owns 142,283 shares of the technology company’s stock worth $8,783,000 after acquiring an additional 92,283 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Jabil by 3.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 904,012 shares of the technology company’s stock worth $55,805,000 after acquiring an additional 27,363 shares during the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group dropped their price target on shares of Jabil from $78.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday, June 1st. Citigroup dropped their price target on shares of Jabil from $90.00 to $80.00 in a research note on Friday, June 17th. Finally, Credit Suisse Group began coverage on shares of Jabil in a research report on Tuesday, August 16th. They set an “outperform” rating and a $74.00 target price on the stock. Four research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $74.67.

Jabil Trading Up 2.9 %

Jabil stock opened at $60.73 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.04 and a quick ratio of 0.54. Jabil Inc. has a one year low of $48.80 and a one year high of $72.11. The company’s fifty day moving average price is $58.05 and its two-hundred day moving average price is $58.06. The company has a market capitalization of $8.35 billion, a price-to-earnings ratio of 10.43, a PEG ratio of 0.71 and a beta of 1.40.

Jabil (NYSE:JBLGet Rating) last released its quarterly earnings results on Thursday, June 16th. The technology company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.09. Jabil had a net margin of 2.69% and a return on equity of 37.88%. The company had revenue of $8.33 billion during the quarter, compared to analysts’ expectations of $8.21 billion. During the same period in the prior year, the company earned $1.12 earnings per share. On average, analysts forecast that Jabil Inc. will post 6.59 earnings per share for the current fiscal year.

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Monday, August 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Friday, August 12th. Jabil’s dividend payout ratio (DPR) is 5.50%.

Insider Buying and Selling at Jabil

In related news, EVP Robert L. Katz sold 9,477 shares of the stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $55.00, for a total value of $521,235.00. Following the completion of the sale, the executive vice president now owns 143,680 shares in the company, valued at $7,902,400. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Robert L. Katz sold 9,477 shares of the stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $55.00, for a total value of $521,235.00. Following the completion of the sale, the executive vice president now owns 143,680 shares in the company, valued at $7,902,400. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert L. Katz sold 10,423 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $59.29, for a total transaction of $617,979.67. Following the completion of the sale, the executive vice president now owns 133,257 shares of the company’s stock, valued at approximately $7,900,807.53. The disclosure for this sale can be found here. Insiders sold 23,603 shares of company stock worth $1,341,991 over the last ninety days. Company insiders own 2.59% of the company’s stock.

About Jabil

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Jabil Inc provides manufacturing services and solutions worldwide. The company operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides electronic 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).

Further Reading

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Institutional Ownership by Quarter for Jabil (NYSE:JBL)

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