Meeder Asset Management Inc. Buys 3,628 Shares of Jabil Inc. (NYSE:JBL)

Meeder Asset Management Inc. lifted its position in Jabil Inc. (NYSE:JBL) by 72.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 8,635 shares of the technology company’s stock after acquiring an additional 3,628 shares during the quarter. Meeder Asset Management Inc.’s holdings in Jabil were worth $1,035,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in JBL. Van ECK Associates Corp grew its holdings in Jabil by 6.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,589 shares of the technology company’s stock valued at $195,000 after buying an additional 90 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Jabil by 2.9% in the third quarter. Verdence Capital Advisors LLC now owns 3,234 shares of the technology company’s stock valued at $387,000 after purchasing an additional 91 shares in the last quarter. Gateway Investment Advisers LLC increased its position in Jabil by 3.5% in the third quarter. Gateway Investment Advisers LLC now owns 3,139 shares of the technology company’s stock worth $376,000 after purchasing an additional 105 shares during the last quarter. GAMMA Investing LLC raised its stake in Jabil by 15.3% during the second quarter. GAMMA Investing LLC now owns 797 shares of the technology company’s stock valued at $87,000 after purchasing an additional 106 shares in the last quarter. Finally, M&R Capital Management Inc. lifted its position in Jabil by 8.4% during the second quarter. M&R Capital Management Inc. now owns 1,380 shares of the technology company’s stock valued at $150,000 after purchasing an additional 107 shares during the last quarter. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

JBL has been the topic of a number of research reports. Bank of America boosted their target price on shares of Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Barclays boosted their price objective on Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Stifel Nicolaus raised their price objective on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, JPMorgan Chase & Co. cut their target price on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.50.

Jabil Stock Down 0.6 %

Shares of JBL opened at $127.52 on Wednesday. The firm has a fifty day moving average price of $122.29 and a 200-day moving average price of $115.56. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $14.39 billion, a P/E ratio of 11.57, a P/E/G ratio of 1.51 and a beta of 1.24. Jabil Inc. has a 12-month low of $95.85 and a 12-month high of $156.94.

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

Jabil Announces Dividend

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

Insider Buying and Selling at Jabil

In related news, SVP Francis Mckay sold 11,755 shares of Jabil stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the transaction, the senior vice president now directly owns 41,507 shares of the company’s stock, valued at $5,051,816.97. This trade represents a 22.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Frederic E. Mccoy sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $118.70, for a total transaction of $474,800.00. Following the completion of the transaction, the executive vice president now directly owns 108,753 shares of the company’s stock, valued at $12,908,981.10. This trade represents a 3.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,689 shares of company stock valued at $5,377,431 in the last ninety days. Corporate insiders own 2.62% of the company’s stock.

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).