JPMorgan Chase & Co. Raises Stock Position in Jabil Inc. (NYSE:JBL)

JPMorgan Chase & Co. grew its position in Jabil Inc. (NYSE:JBL) by 18.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,877,599 shares of the technology company’s stock after purchasing an additional 288,806 shares during the period. JPMorgan Chase & Co.’s holdings in Jabil were worth $270,187,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in Jabil by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,045,213 shares of the technology company’s stock valued at $150,406,000 after acquiring an additional 10,541 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Jabil by 15.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 903,526 shares of the technology company’s stock valued at $108,270,000 after purchasing an additional 118,376 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of Jabil by 406.5% during the 3rd quarter. Two Sigma Advisers LP now owns 722,800 shares of the technology company’s stock worth $86,613,000 after purchasing an additional 580,100 shares during the period. Victory Capital Management Inc. increased its position in shares of Jabil by 50.8% during the 4th quarter. Victory Capital Management Inc. now owns 627,041 shares of the technology company’s stock worth $90,231,000 after purchasing an additional 211,168 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC raised its holdings in Jabil by 29.0% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 574,938 shares of the technology company’s stock valued at $68,895,000 after buying an additional 129,400 shares during the period. Institutional investors and hedge funds own 93.39% of the company’s stock.

Insider Activity

In other news, Director Christopher S. Holland sold 3,400 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was 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 of the company’s stock, valued at approximately $2,093,283. This trade represents a 20.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John C. Plant sold 50,000 shares of the company’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 directly owns 5,900 shares of the company’s stock, valued at $1,018,045. This trade represents a 89.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,400 shares of company stock worth $12,804,458. 1.73% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on JBL. The Goldman Sachs Group lifted their price target on shares of Jabil from $160.00 to $179.00 and gave the company a “buy” rating in a research report on Monday, February 24th. StockNews.com upgraded shares of Jabil from a “hold” rating to a “buy” rating in a report on Friday, March 21st. 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, March 21st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $160.00 price objective (up from $150.00) on shares of Jabil in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. increased their target price on Jabil from $172.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. One equities research 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $167.50.

Jabil Stock Down 2.5 %

Shares of NYSE JBL opened at $135.97 on Monday. Jabil Inc. has a 12-month low of $95.85 and a 12-month high of $174.80. The stock has a market cap of $14.84 billion, a P/E ratio of 13.04, a PEG ratio of 1.65 and a beta of 1.19. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. The business’s fifty day simple moving average is $154.45 and its 200-day simple moving average is $139.84.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.11. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The business had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same quarter last year, the business posted $1.68 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. As a group, equities analysts predict that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil’s dividend payout ratio is presently 7.66%.

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).