AXQ Capital LP Reduces Holdings in Jabil Inc. (NYSE:JBL)

AXQ Capital LP decreased its stake in shares of Jabil Inc. (NYSE:JBL) by 12.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,254 shares of the technology company’s stock after selling 595 shares during the period. AXQ Capital LP’s holdings in Jabil were worth $612,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. American Century Companies Inc. grew its stake in Jabil by 5.6% in the fourth quarter. American Century Companies Inc. now owns 246,198 shares of the technology company’s stock worth $35,428,000 after purchasing an additional 13,161 shares during the period. Mizuho Securities USA LLC lifted its position in Jabil by 45.4% during the 4th quarter. Mizuho Securities USA LLC now owns 10,695 shares of the technology company’s stock valued at $1,539,000 after acquiring an additional 3,339 shares during the period. Sciencast Management LP boosted its stake in Jabil by 32.4% during the fourth quarter. Sciencast Management LP now owns 19,982 shares of the technology company’s stock worth $2,875,000 after acquiring an additional 4,893 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in Jabil in the fourth quarter worth about $37,000. Finally, TD Private Client Wealth LLC increased its stake in shares of Jabil by 52.9% during the fourth quarter. TD Private Client Wealth LLC now owns 474 shares of the technology company’s stock valued at $68,000 after purchasing an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Jabil Price Performance

NYSE JBL opened at $145.02 on Friday. Jabil Inc. has a one year low of $95.85 and a one year high of $174.80. The stock has a 50-day moving average of $155.96 and a 200 day moving average of $138.15. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. The company has a market capitalization of $15.83 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 1.65 and a beta of 1.19.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.11. The firm had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.40 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the business posted $1.68 earnings per share. On average, sell-side analysts forecast that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.22%. Jabil’s payout ratio is 3.07%.

Insider Buying and Selling

In other news, EVP Frederic E. Mccoy sold 4,000 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $149.81, for a total value of $599,240.00. Following the completion of the sale, the executive vice president now directly owns 138,472 shares in the company, valued at $20,744,490.32. This represents a 2.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Christopher S. Holland sold 3,400 shares of Jabil stock in a transaction on Friday, January 31st. The shares were sold at an average price of $162.27, for a total value of $551,718.00. Following the transaction, the director now owns 12,900 shares in the company, valued at $2,093,283. This trade represents a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,400 shares of company stock valued at $12,804,458 over the last 90 days. Company insiders own 1.73% of the company’s stock.

Analyst Upgrades and Downgrades

JBL has been the topic of several recent research reports. UBS Group upped their price target on Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday. Stifel Nicolaus restated a “buy” rating and set a $160.00 price target (up from $150.00) on shares of Jabil in a report on Thursday, December 19th. StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a research report on Friday. JPMorgan Chase & Co. increased their price objective on shares of Jabil from $172.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday. Finally, The Goldman Sachs Group lifted their target price on shares of Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a report on Monday, February 24th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $167.50.

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).