Point72 Hong Kong Ltd Takes Position in Jabil Inc. (NYSE:JBL)

Point72 Hong Kong Ltd bought a new position in shares of Jabil Inc. (NYSE:JBL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 49,773 shares of the technology company’s stock, valued at approximately $5,964,000.

Several other hedge funds have also recently bought and sold shares of JBL. HHM Wealth Advisors LLC acquired a new stake in shares of Jabil in the second quarter worth $28,000. Capital Performance Advisors LLP purchased a new stake in Jabil during the 3rd quarter worth $32,000. Innealta Capital LLC acquired a new stake in Jabil in the 2nd quarter valued at $31,000. Brooklyn Investment Group purchased a new position in Jabil in the third quarter valued at about $39,000. Finally, Family Firm Inc. acquired a new position in shares of Jabil during the second quarter worth about $37,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on JBL shares. Barclays increased their target price on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Stifel Nicolaus lifted their price objective on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Bank of America upped their target price on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. dropped their price target on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Finally, StockNews.com raised shares of Jabil from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Jabil presently has an average rating of “Moderate Buy” and an average price target of $143.50.

Insider Buying and Selling

In other Jabil news, EVP Frederic E. Mccoy sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were 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 of the company’s stock, valued at $12,908,981.10. This trade represents a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven A. Raymund sold 20,000 shares of Jabil stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $124.70, for a total value of $2,494,000.00. Following the completion of the transaction, the director now owns 139,108 shares of the company’s stock, valued at approximately $17,346,767.60. The trade was a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,689 shares of company stock worth $5,377,431 over the last ninety days. 2.62% of the stock is owned by insiders.

Jabil Trading Up 1.9 %

NYSE JBL opened at $135.83 on Friday. The company has a market capitalization of $15.33 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.60 and a beta of 1.24. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72. Jabil Inc. has a 12 month low of $95.85 and a 12 month high of $156.94. The company’s fifty day moving average price is $126.30 and its two-hundred day moving average price is $116.39.

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

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend is Friday, November 15th. Jabil’s dividend payout ratio is currently 2.90%.

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).