ARK Investment Management LLC Cuts Stock Position in Jabil Inc. (NYSE:JBL)

ARK Investment Management LLC trimmed its position in Jabil Inc. (NYSE:JBL) by 18.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 717 shares of the technology company’s stock after selling 157 shares during the period. ARK Investment Management LLC’s holdings in Jabil were worth $103,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in shares of Jabil during the 3rd quarter worth approximately $32,000. Brooklyn Investment Group acquired a new position in Jabil during the third quarter worth $39,000. First Horizon Advisors Inc. raised its position in Jabil by 90.3% in the fourth quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company’s stock worth $39,000 after acquiring an additional 130 shares in the last quarter. GHP Investment Advisors Inc. purchased a new position in Jabil in the fourth quarter worth $43,000. Finally, Cromwell Holdings LLC lifted its holdings in Jabil by 412.7% in the fourth quarter. Cromwell Holdings LLC now owns 364 shares of the technology company’s stock valued at $52,000 after acquiring an additional 293 shares during the period. 93.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Christopher S. Holland sold 3,400 shares of the firm’s 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 sale, the director now owns 12,900 shares in the company, valued at approximately $2,093,283. This trade represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John C. Plant sold 50,000 shares of Jabil stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $172.55, for a total transaction of $8,627,500.00. Following the completion of the sale, the director now directly owns 5,900 shares of the company’s stock, valued at $1,018,045. The trade was a 89.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,400 shares of company stock worth $12,804,458. 1.73% of the stock is owned by corporate insiders.

Jabil Stock Up 0.8 %

Shares of NYSE JBL opened at $158.81 on Thursday. The firm’s 50-day moving average is $158.48 and its two-hundred day moving average is $134.16. The company has a market capitalization of $17.34 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 1.65 and a beta of 1.23. Jabil Inc. has a 12-month low of $95.85 and a 12-month high of $174.80. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72.

Jabil (NYSE:JBL) last posted its earnings results on Wednesday, December 18th. The technology company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.12. The firm had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.61 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. Jabil’s revenue was down 16.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.60 EPS. Equities analysts anticipate that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend is Tuesday, February 18th. Jabil’s dividend payout ratio is presently 3.07%.

Wall Street Analyst Weigh In

JBL has been the topic of a number of recent analyst reports. StockNews.com cut shares of Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday. Stifel Nicolaus restated a “buy” rating and set a $160.00 target price (up from $150.00) on shares of Jabil in a research report on Thursday, December 19th. Barclays lifted their price target on shares of Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. UBS Group upped their price target on Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Finally, The Goldman Sachs Group raised their price objective on Jabil from $160.00 to $179.00 and gave the company a “buy” rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $158.83.

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).