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

JPMorgan Chase & Co. increased its holdings in Jabil Inc. (NYSE:JBL) by 18.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,877,599 shares of the technology company’s stock after buying an additional 288,806 shares during the quarter. JPMorgan Chase & Co. owned about 1.72% of Jabil worth $270,187,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Elo Mutual Pension Insurance Co raised its holdings in shares of Jabil by 10.9% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 11,179 shares of the technology company’s stock worth $1,609,000 after purchasing an additional 1,102 shares during the last quarter. WINTON GROUP Ltd grew its position in Jabil by 352.4% during the 4th quarter. WINTON GROUP Ltd now owns 42,544 shares of the technology company’s stock worth $6,122,000 after purchasing an additional 33,140 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Jabil by 4.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 186,373 shares of the technology company’s stock valued at $27,893,000 after buying an additional 8,291 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in shares of Jabil in the 4th quarter valued at about $446,000. Finally, Penobscot Investment Management Company Inc. purchased a new stake in shares of Jabil in the fourth quarter worth about $217,000. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Jabil

In other news, EVP Frederic E. Mccoy sold 4,000 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 138,472 shares of the company’s stock, valued at $20,744,490.32. This represents a 2.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $151.30, for a total transaction of $3,026,000.00. Following the completion of the transaction, the director now directly owns 119,108 shares in the company, valued at approximately $18,021,040.40. This represents a 14.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,400 shares of company stock valued at $12,804,458. 1.73% of the stock is owned by insiders.

Jabil Stock Performance

NYSE:JBL opened at $135.97 on Monday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. The stock has a market capitalization of $14.84 billion, a PE ratio of 13.04, a P/E/G ratio of 1.65 and a beta of 1.19. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $174.80. The company has a fifty day moving average of $154.45 and a two-hundred day moving average of $139.84.

Jabil (NYSE:JBL) last released its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The firm had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter in the prior year, the firm earned $1.68 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. As a group, research analysts forecast that Jabil Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were 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 was Tuesday, February 18th. Jabil’s payout ratio is 7.66%.

Wall Street Analyst Weigh In

JBL has been the subject of several recent research reports. UBS Group lifted their price target on Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. JPMorgan Chase & Co. boosted their target price on shares of Jabil from $172.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Barclays raised their price target on shares of Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. StockNews.com upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research report on Friday, March 21st. Finally, The Goldman Sachs Group increased their target price on shares of Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $167.50.

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).