Hennessy Advisors Inc. Sells 1,337 Shares of Jabil Inc. (NYSE:JBL)

Hennessy Advisors Inc. lowered its holdings in Jabil Inc. (NYSE:JBL) by 6.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,369 shares of the technology company’s stock after selling 1,337 shares during the period. Hennessy Advisors Inc.’s holdings in Jabil were worth $2,931,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in shares of Jabil during the 3rd quarter valued at $32,000. Brooklyn Investment Group acquired a new position in Jabil in the third quarter valued at about $39,000. Matrix Trust Co lifted its position in Jabil by 135.4% during the third quarter. Matrix Trust Co now owns 372 shares of the technology company’s stock worth $45,000 after purchasing an additional 214 shares during the period. Armstrong Advisory Group Inc. grew its stake in Jabil by 114.0% during the third quarter. Armstrong Advisory Group Inc. now owns 428 shares of the technology company’s stock worth $51,000 after buying an additional 228 shares in the last quarter. Finally, Sound Income Strategies LLC increased its holdings in Jabil by 945.7% in the 3rd quarter. Sound Income Strategies LLC now owns 481 shares of the technology company’s stock valued at $58,000 after buying an additional 435 shares during the period. Institutional investors and hedge funds own 93.39% of the company’s stock.

Insider Activity

In related news, EVP Matthew Crowley sold 2,271 shares of Jabil stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $123.54, for a total transaction of $280,559.34. Following the transaction, the executive vice president now owns 15,564 shares of the company’s stock, valued at $1,922,776.56. The trade was a 12.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven A. Raymund sold 20,000 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $124.70, for a total value of $2,494,000.00. Following the completion of the sale, the director now directly owns 139,108 shares of the company’s stock, valued at $17,346,767.60. The trade was a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,309 shares of company stock worth $8,354,226. Company insiders own 1.73% of the company’s stock.

Jabil Stock Up 0.7 %

Shares of JBL opened at $162.94 on Friday. The stock’s 50-day moving average price is $140.74 and its two-hundred day moving average price is $123.16. Jabil Inc. has a 12 month low of $95.85 and a 12 month high of $164.25. The company has a market capitalization of $17.79 billion, a PE ratio of 15.62, a PEG ratio of 1.61 and a beta of 1.23. 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 (NYSE:JBL) last released its earnings results on Wednesday, December 18th. The technology company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.12. The business had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $6.61 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company’s revenue for the quarter was down 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.60 EPS. On average, analysts anticipate that Jabil Inc. will post 8.02 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on JBL. Bank of America upped their price target on shares of Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Barclays boosted their price target on Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. The Goldman Sachs Group raised their price objective on Jabil from $136.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Stifel Nicolaus reissued a “buy” rating and issued a $160.00 target price (up previously from $150.00) on shares of Jabil in a report on Thursday, December 19th. Finally, UBS Group upped their price objective on shares of Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $153.17.

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).