Verdence Capital Advisors LLC Sells 2,077 Shares of Jabil Inc. (NYSE:JBL)

Verdence Capital Advisors LLC lowered its holdings in Jabil Inc. (NYSE:JBL) by 47.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,340 shares of the technology company’s stock after selling 2,077 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Jabil were worth $298,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Cullen Frost Bankers Inc. bought a new stake in shares of Jabil in the 3rd quarter valued at about $63,000. Lecap Asset Management Ltd. bought a new stake in shares of Jabil in the 4th quarter valued at about $1,146,000. D.A. Davidson & CO. raised its holdings in shares of Jabil by 15.3% in the 3rd quarter. D.A. Davidson & CO. now owns 29,305 shares of the technology company’s stock valued at $3,719,000 after purchasing an additional 3,887 shares in the last quarter. Deutsche Bank AG grew its position in shares of Jabil by 87.1% in the 3rd quarter. Deutsche Bank AG now owns 185,371 shares of the technology company’s stock worth $23,522,000 after buying an additional 86,285 shares during the last quarter. Finally, Cozad Asset Management Inc. grew its position in shares of Jabil by 21.4% in the 3rd quarter. Cozad Asset Management Inc. now owns 90,828 shares of the technology company’s stock worth $11,525,000 after buying an additional 16,038 shares during the last quarter. Institutional investors own 93.39% of the company’s stock.

Jabil Stock Up 1.5 %

NYSE:JBL opened at $120.89 on Wednesday. The company has a market cap of $14.58 billion, a PE ratio of 10.38, a P/E/G ratio of 1.27 and a beta of 1.40. Jabil Inc. has a twelve month low of $75.48 and a twelve month high of $156.94. The company has a current ratio of 1.17, a quick ratio of 0.72 and a debt-to-equity ratio of 1.08. The company’s 50 day moving average is $137.25 and its two-hundred day moving average is $131.02.

Jabil (NYSE:JBL) last released its earnings results on Friday, March 15th. The technology company reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.01). The company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.91 billion. Jabil had a return on equity of 39.47% and a net margin of 4.70%. Analysts anticipate that Jabil Inc. will post 7.83 EPS for the current year.

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend is Tuesday, May 14th. Jabil’s dividend payout ratio (DPR) is currently 2.75%.

Insider Activity

In other news, Chairman Mark T. Mondello sold 50,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $126.09, for a total value of $6,304,500.00. Following the sale, the chairman now directly owns 1,809,194 shares of the company’s stock, valued at approximately $228,121,271.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director David M. Stout sold 31,300 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $123.12, for a total value of $3,853,656.00. Following the sale, the director now directly owns 67,300 shares of the company’s stock, valued at approximately $8,285,976. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark T. Mondello sold 50,000 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $126.09, for a total transaction of $6,304,500.00. Following the completion of the transaction, the chairman now owns 1,809,194 shares of the company’s stock, valued at $228,121,271.46. The disclosure for this sale can be found here. Insiders have sold 107,177 shares of company stock valued at $13,678,039 in the last ninety days. Insiders own 2.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on JBL shares. StockNews.com raised shares of Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday. The Goldman Sachs Group lifted their price objective on shares of Jabil from $141.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Barclays cut their price objective on shares of Jabil from $151.00 to $149.00 and set an “overweight” rating on the stock in a research report on Monday, March 18th. Finally, Argus downgraded shares of Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $144.50.

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).