Empire Financial Management Company LLC Sells 8,070 Shares of Jabil Inc. (NYSE:JBL)

Empire Financial Management Company LLC decreased its holdings in Jabil Inc. (NYSE:JBL - Free Report) by 77.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,400 shares of the technology company's stock after selling 8,070 shares during the quarter. Empire Financial Management Company LLC's holdings in Jabil were worth $345,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Meyer Handelman Co. purchased a new stake in shares of Jabil in the 4th quarter worth $7,334,000. Davis Investment Partners LLC purchased a new stake in Jabil in the fourth quarter worth about $1,433,000. Truist Financial Corp raised its stake in shares of Jabil by 50.4% in the fourth quarter. Truist Financial Corp now owns 12,037 shares of the technology company's stock worth $1,732,000 after buying an additional 4,034 shares during the period. Merit Financial Group LLC bought a new position in shares of Jabil in the fourth quarter worth about $235,000. Finally, Keybank National Association OH purchased a new position in shares of Jabil during the 4th quarter valued at about $214,000. 93.39% of the stock is currently owned by institutional investors.

Jabil Price Performance

Shares of Jabil stock opened at $138.50 on Thursday. The firm has a market cap of $14.87 billion, a PE ratio of 13.28, a PEG ratio of 1.65 and a beta of 1.12. The stock has a 50 day moving average of $140.84 and a 200 day moving average of $141.67. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. Jabil Inc. has a 12 month low of $95.85 and a 12 month high of $174.80.

Jabil (NYSE:JBL - Get Free Report) last posted its earnings results on Thursday, March 20th. The technology company reported $1.94 EPS for the quarter, beating 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 firm 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 company earned $1.68 EPS. The company's quarterly revenue was down .6% compared to the same quarter last year. On average, research analysts expect that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.23%. Jabil's dividend payout ratio (DPR) is presently 7.66%.

Insider Activity

In other news, Director John C. Plant sold 50,000 shares of the stock in a transaction on 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 sale, the director now owns 5,900 shares of the company's stock, valued at approximately $1,018,045. This represents a 89.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christopher S. Holland sold 3,400 shares of Jabil stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $162.27, for a total transaction of $551,718.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,400 shares of company stock valued at $11,810,418 in the last ninety days. Insiders own 1.73% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on JBL shares. Barclays raised their target price on shares of Jabil from $179.00 to $184.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. The Goldman Sachs Group decreased their price objective on shares of Jabil from $175.00 to $146.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. UBS Group raised their price target on Jabil from $152.00 to $157.00 and gave the company a "neutral" rating in a report on Friday, March 21st. JPMorgan Chase & Co. decreased their target price on Jabil from $175.00 to $154.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, StockNews.com downgraded Jabil from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $158.50.

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).

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