Islay Capital Management LLC Invests $831,000 in Jabil Inc. (NYSE:JBL)

Islay Capital Management LLC acquired a new position in Jabil Inc. (NYSE:JBL - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,774 shares of the technology company's stock, valued at approximately $831,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meyer Handelman Co. purchased a new position in Jabil in the fourth quarter worth $7,334,000. Davis Investment Partners LLC purchased a new position in shares of Jabil in the fourth quarter worth about $1,433,000. Truist Financial Corp boosted its position in Jabil by 50.4% in the fourth quarter. Truist Financial Corp now owns 12,037 shares of the technology company's stock valued at $1,732,000 after buying an additional 4,034 shares during the last quarter. Merit Financial Group LLC acquired a new position in Jabil during the fourth quarter valued at $235,000. Finally, Keybank National Association OH acquired a new position in Jabil in the fourth quarter valued at approximately $214,000. 93.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. UBS Group upped their target price on Jabil from $152.00 to $157.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. StockNews.com raised shares of Jabil from a "hold" rating to a "buy" rating in a report on Friday, March 21st. Barclays upped their price target on Jabil from $179.00 to $184.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. The Goldman Sachs Group boosted their target price on Jabil from $160.00 to $179.00 and gave the company a "buy" rating in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. upped 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 investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $167.50.

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Insider Activity at Jabil

In related news, Director Christopher S. Holland sold 3,400 shares of the stock in a transaction that occurred 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 $2,093,283. This represents a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of the company's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $151.30, for a total value of $3,026,000.00. Following the completion of the transaction, the director now directly owns 119,108 shares in the company, valued at $18,021,040.40. This represents a 14.38 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,400 shares of company stock valued at $12,205,218. Corporate insiders own 1.73% of the company's stock.

Jabil Price Performance

JBL stock traded down $6.22 on Thursday, reaching $131.16. The company had a trading volume of 810,668 shares, compared to its average volume of 1,470,519. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $174.80. The company's fifty day moving average is $147.20 and its 200 day moving average is $140.82. The company has a market cap of $14.32 billion, a P/E ratio of 12.50, a PEG ratio of 1.65 and a beta of 1.12.

Jabil (NYSE:JBL - Get Free Report) 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. On average, research analysts forecast that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil's dividend payout ratio is currently 7.66%.

About Jabil

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).