Amalgamated Bank Has $3.13 Million Stock Position in Jabil Inc. (NYSE:JBL)

Amalgamated Bank lowered its holdings in shares of Jabil Inc. (NYSE:JBL) by 3.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 21,752 shares of the technology company’s stock after selling 787 shares during the period. Amalgamated Bank’s holdings in Jabil were worth $3,130,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Meyer Handelman Co. bought a new position in Jabil during the 4th quarter worth $7,334,000. Davis Investment Partners LLC bought a new position in shares of Jabil during the fourth quarter worth about $1,433,000. Nicola Wealth Management LTD. raised its position in shares of Jabil by 54.9% during the third quarter. Nicola Wealth Management LTD. now owns 39,500 shares of the technology company’s stock worth $4,733,000 after acquiring an additional 14,000 shares during the last quarter. Merit Financial Group LLC acquired a new position in shares of Jabil in the fourth quarter worth approximately $235,000. Finally, Foster & Motley Inc. boosted its holdings in Jabil by 8.7% in the third quarter. Foster & Motley Inc. now owns 52,173 shares of the technology company’s stock valued at $6,252,000 after acquiring an additional 4,181 shares during the last quarter. Institutional investors and hedge funds own 93.39% of the company’s stock.

Jabil Price Performance

Shares of NYSE JBL opened at $154.96 on Friday. The firm has a market capitalization of $16.92 billion, a P/E ratio of 14.86, a P/E/G ratio of 1.65 and a beta of 1.23. The firm’s 50-day moving average price is $158.95 and its 200-day moving average price is $134.88. 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 1-year low of $95.85 and a 1-year high of $174.80.

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

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend is Tuesday, February 18th. Jabil’s payout ratio is currently 3.07%.

Insider Buying and Selling at Jabil

In other Jabil news, Director Christopher S. Holland sold 3,400 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was 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 approximately $2,093,283. The trade was a 20.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John C. Plant sold 50,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 5,900 shares in the company, valued at $1,018,045. This represents a 89.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,400 shares of company stock worth $12,804,458. 1.73% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on JBL. The Goldman Sachs Group raised their price target on shares of Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a report on Monday, February 24th. StockNews.com downgraded shares of Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Barclays upped 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. Stifel Nicolaus reissued a “buy” rating and issued a $160.00 price objective (up from $150.00) on shares of Jabil in a research report on Thursday, December 19th. Finally, UBS Group upped their target price on Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $158.83.

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).