Handelsbanken Fonder AB Raises Stock Position in Jabil Inc. (NYSE:JBL)

Handelsbanken Fonder AB lifted its stake in Jabil Inc. (NYSE:JBL) by 511.3% in the 4th quarter, HoldingsChannel reports. The firm owned 198,348 shares of the technology company’s stock after buying an additional 165,900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Jabil were worth $28,542,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Meyer Handelman Co. purchased a new position in shares of Jabil during the 4th quarter worth approximately $7,334,000. Davis Investment Partners LLC bought a new position in Jabil in the fourth quarter worth $1,433,000. Nicola Wealth Management LTD. lifted its position in Jabil by 54.9% during the third quarter. Nicola Wealth Management LTD. now owns 39,500 shares of the technology company’s stock valued at $4,733,000 after buying an additional 14,000 shares during the period. Merit Financial Group LLC purchased a new stake in shares of Jabil in the 4th quarter worth about $235,000. Finally, Foster & Motley Inc. increased its stake in shares of Jabil by 8.7% in the 3rd quarter. Foster & Motley Inc. now owns 52,173 shares of the technology company’s stock worth $6,252,000 after acquiring an additional 4,181 shares in the last quarter. Institutional investors own 93.39% of the company’s stock.

Insider Activity

In other Jabil news, EVP Frederic E. Mccoy sold 4,000 shares of Jabil stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $149.81, for a total value of $599,240.00. Following the completion of the sale, the executive vice president now owns 138,472 shares of the company’s stock, valued at approximately $20,744,490.32. The trade was a 2.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Christopher S. Holland sold 3,400 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $162.27, for a total value of $551,718.00. Following the transaction, the director now directly owns 12,900 shares in the company, valued at $2,093,283. The trade was a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,400 shares of company stock valued at $12,804,458 over the last three months. Insiders own 1.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on JBL. StockNews.com cut shares of Jabil from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Stifel Nicolaus restated a “buy” rating and issued a $160.00 price target (up previously from $150.00) on shares of Jabil in a research note on Thursday, December 19th. Barclays lifted their price objective on Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. UBS Group increased their target price on Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group lifted their price target on Jabil from $136.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $153.17.

Jabil Stock Performance

JBL stock opened at $166.20 on Friday. The stock’s 50 day simple moving average is $156.68 and its 200 day simple moving average is $132.27. 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 12-month low of $95.85 and a 12-month high of $174.80. The stock has a market capitalization of $18.15 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 1.69 and a beta of 1.23.

Jabil (NYSE:JBL) last released its quarterly earnings data on Wednesday, December 18th. The technology company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.88 by $0.12. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The company had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $6.61 billion. During the same period last year, the firm posted $2.60 earnings per share. Jabil’s revenue was down 16.6% compared to the same quarter last year. As a group, research analysts forecast that Jabil Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.19%. Jabil’s dividend payout ratio is presently 3.07%.

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).