Plato Investment Management Ltd Acquires Shares of 3,033 Jabil Inc. (NYSE:JBL)

Plato Investment Management Ltd purchased a new stake in shares of Jabil Inc. (NYSE:JBL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,033 shares of the technology company’s stock, valued at approximately $363,000.

A number of other hedge funds and other institutional investors have also modified their holdings of JBL. Point72 Asset Management L.P. bought a new stake in shares of Jabil during the 2nd quarter valued at $78,660,000. AQR Capital Management LLC boosted its stake in Jabil by 195.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock worth $115,404,000 after acquiring an additional 702,199 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Jabil by 29.0% during the second quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock valued at $150,463,000 after purchasing an additional 310,590 shares during the period. Westfield Capital Management Co. LP bought a new stake in Jabil in the first quarter valued at approximately $39,040,000. Finally, Victory Capital Management Inc. raised its stake in Jabil by 72.0% during the 2nd quarter. Victory Capital Management Inc. now owns 490,499 shares of the technology company’s stock worth $53,361,000 after buying an additional 205,331 shares during the period. Institutional investors and hedge funds own 93.39% of the company’s stock.

Insider Activity

In other news, Director Steven A. Raymund sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $124.70, for a total value of $2,494,000.00. Following the transaction, the director now owns 139,108 shares of the company’s stock, valued at approximately $17,346,767.60. This represents a 12.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Frederic E. Mccoy sold 4,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $118.70, for a total value of $474,800.00. Following the transaction, the executive vice president now owns 108,753 shares in the company, valued at $12,908,981.10. The trade was a 3.55 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,689 shares of company stock valued at $5,377,431. 2.62% of the stock is owned by company insiders.

Analyst Ratings Changes

JBL has been the subject of several recent analyst reports. Bank of America increased their price target on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Stifel Nicolaus raised their price objective on shares of Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, September 27th. JPMorgan Chase & Co. reduced their price objective on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Finally, Barclays increased their price objective on Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $143.50.

Jabil Trading Down 0.5 %

Jabil stock opened at $128.26 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72. The firm has a 50-day moving average of $121.26 and a 200-day moving average of $115.40. The company has a market cap of $14.47 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 1.55 and a beta of 1.24. Jabil Inc. has a one year low of $95.85 and a one year high of $156.94.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.22 by $0.08. The firm had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.59 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The business’s quarterly revenue was down 17.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.34 earnings per share. On average, equities analysts expect that Jabil Inc. will post 7.84 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.25%. Jabil’s payout ratio is 2.90%.

Jabil Company 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).