California Public Employees Retirement System Has $99.97 Million Stock Holdings in Jabil Inc. (NYSE:JBL)

California Public Employees Retirement System lifted its position in shares of Jabil Inc. (NYSE:JBL) by 2.6% during the 4th quarter, Holdings Channel reports. The firm owned 784,669 shares of the technology company’s stock after purchasing an additional 19,611 shares during the quarter. California Public Employees Retirement System’s holdings in Jabil were worth $99,967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. FMR LLC increased its stake in shares of Jabil by 15.9% during the 3rd quarter. FMR LLC now owns 10,525,084 shares of the technology company’s stock worth $1,335,528,000 after purchasing an additional 1,440,857 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Jabil by 0.7% during the 3rd quarter. Wellington Management Group LLP now owns 5,392,355 shares of the technology company’s stock worth $684,236,000 after buying an additional 36,560 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Jabil by 7.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,513,406 shares of the technology company’s stock worth $192,036,000 after buying an additional 99,174 shares during the period. Northern Trust Corp boosted its holdings in shares of Jabil by 13.8% during the 3rd quarter. Northern Trust Corp now owns 1,162,838 shares of the technology company’s stock worth $147,553,000 after buying an additional 141,383 shares during the period. Finally, Artisan Partners Limited Partnership bought a new stake in shares of Jabil during the 3rd quarter worth about $124,319,000. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on JBL. Argus downgraded shares of Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. StockNews.com raised shares of Jabil from a “hold” rating to a “buy” rating in a report on Tuesday. The Goldman Sachs Group boosted their price objective on shares of Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a report on Monday, March 4th. Finally, Barclays cut their price objective on shares of Jabil from $151.00 to $149.00 and set an “overweight” rating for the company in a report on Monday, March 18th. One research 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $144.50.

Insider Activity

In other news, Director David M. Stout sold 31,300 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 67,300 shares in the company, valued at approximately $8,285,976. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Mark T. Mondello sold 50,000 shares of the company’s stock in a transaction that occurred 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 directly owns 1,809,194 shares in the company, valued at approximately $228,121,271.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David M. Stout sold 31,300 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $123.12, for a total transaction of $3,853,656.00. Following the transaction, the director now directly owns 67,300 shares in the company, valued at $8,285,976. The disclosure for this sale can be found here. In the last ninety days, insiders sold 107,177 shares of company stock worth $13,678,039. 2.62% of the stock is currently owned by corporate insiders.

Jabil Stock Performance

NYSE JBL opened at $120.89 on Wednesday. The firm has a 50-day moving average price of $137.25 and a two-hundred day moving average price of $131.02. The company has a market capitalization of $14.58 billion, a P/E ratio of 10.38, a P/E/G ratio of 1.27 and a beta of 1.40. The company has a quick ratio of 0.72, a current ratio of 1.17 and a debt-to-equity ratio of 1.08. Jabil Inc. has a 12-month low of $75.48 and a 12-month high of $156.94.

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

Jabil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Tuesday, May 14th. Jabil’s payout ratio is presently 2.75%.

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).