Jabil Inc. (NYSE:JBL) Position Boosted by M&T Bank Corp

M&T Bank Corp lifted its stake in shares of Jabil Inc. (NYSE:JBL) by 28.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,935 shares of the technology company’s stock after purchasing an additional 4,006 shares during the period. M&T Bank Corp’s holdings in Jabil were worth $2,581,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. FMR LLC lifted its position in shares of Jabil by 11.3% during the third quarter. FMR LLC now owns 5,116,308 shares of the technology company’s stock worth $613,087,000 after purchasing an additional 520,672 shares during the last quarter. Primecap Management Co. CA lifted its holdings in Jabil by 0.3% in the third quarter. Primecap Management Co. CA now owns 3,692,560 shares of the technology company’s stock worth $442,479,000 after acquiring an additional 9,685 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Jabil by 12,251.7% in the third quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock worth $264,391,000 after acquiring an additional 2,188,521 shares during the last quarter. 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 worth $150,406,000 after acquiring an additional 10,541 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Jabil by 15.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 903,526 shares of the technology company’s stock worth $108,270,000 after acquiring an additional 118,376 shares during the last quarter. Institutional investors own 93.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $160.00 target price (up previously from $150.00) on shares of Jabil in a report on Thursday, December 19th. StockNews.com cut shares of Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Barclays raised their target price on shares of Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. The Goldman Sachs Group raised their target price on shares of Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a report on Monday, February 24th. Finally, UBS Group raised their target price on shares of Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $158.83.

Insider Activity at Jabil

In related news, EVP Frederic E. Mccoy sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $149.81, for a total transaction of $599,240.00. Following the transaction, the executive vice president now owns 138,472 shares in the company, valued at $20,744,490.32. This trade represents a 2.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher S. Holland sold 3,400 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $162.27, for a total transaction of $551,718.00. Following the transaction, the director now owns 12,900 shares in the company, valued at $2,093,283. This represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 77,400 shares of company stock worth $12,804,458 over the last quarter. 1.73% of the stock is currently owned by company insiders.

Jabil Price Performance

Shares of NYSE:JBL opened at $139.74 on Friday. The firm’s 50 day moving average is $158.43 and its two-hundred day moving average is $136.12. Jabil Inc. has a 52 week low of $95.85 and a 52 week high of $174.80. The firm has a market capitalization of $15.26 billion, a P/E ratio of 13.40, 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.

Jabil (NYSE:JBL) last announced its quarterly earnings results 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 net margin of 4.71% and a return on equity of 41.87%. The company had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.61 billion. During the same quarter last year, the business earned $2.60 earnings per share. Jabil’s revenue was down 16.6% compared to the same quarter last year. Analysts anticipate that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a dividend of $0.08 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.23%. Jabil’s dividend payout ratio is presently 3.07%.

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).