KLP Kapitalforvaltning AS Invests $5.76 Million in Jabil Inc. (NYSE:JBL)

KLP Kapitalforvaltning AS bought a new position in shares of Jabil Inc. (NYSE:JBL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 40,000 shares of the technology company's stock, valued at approximately $5,756,000.

Other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. increased its position in shares of Jabil by 5.6% during the fourth quarter. American Century Companies Inc. now owns 246,198 shares of the technology company's stock worth $35,428,000 after acquiring an additional 13,161 shares in the last quarter. Mizuho Securities USA LLC lifted its stake in Jabil by 45.4% in the 4th quarter. Mizuho Securities USA LLC now owns 10,695 shares of the technology company's stock valued at $1,539,000 after purchasing an additional 3,339 shares during the last quarter. Sciencast Management LP boosted its stake in shares of Jabil by 32.4% during the 4th quarter. Sciencast Management LP now owns 19,982 shares of the technology company's stock worth $2,875,000 after acquiring an additional 4,893 shares during the period. Millstone Evans Group LLC acquired a new position in shares of Jabil in the fourth quarter valued at $37,000. Finally, TD Private Client Wealth LLC raised its holdings in Jabil by 52.9% in the 4th quarter. TD Private Client Wealth LLC now owns 474 shares of the technology company's stock valued at $68,000 after acquiring an additional 164 shares during the period. Institutional investors and hedge funds own 93.39% of the company's stock.

Insider Activity

In other news, EVP Frederic E. Mccoy sold 4,000 shares of the company's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $149.81, for a total transaction of $599,240.00. Following the sale, the executive vice president now directly owns 138,472 shares in the company, valued at approximately $20,744,490.32. This represents a 2.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the director now owns 119,108 shares of the company's stock, valued at $18,021,040.40. This trade represents a 14.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,400 shares of company stock valued at $12,804,458 in the last quarter. 1.73% of the stock is currently owned by insiders.

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Analyst Upgrades and Downgrades

A number of equities analysts have commented on JBL shares. StockNews.com upgraded Jabil from a "hold" rating to a "buy" rating in a research note on Friday, March 21st. JPMorgan Chase & Co. increased their price objective 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. Stifel Nicolaus reissued a "buy" rating and set a $160.00 price target (up from $150.00) on shares of Jabil in a research note on Thursday, December 19th. Barclays lifted their price target on shares of Jabil from $179.00 to $184.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Finally, The Goldman Sachs Group upped their target price on Jabil from $160.00 to $179.00 and gave the company a "buy" rating in a report on Monday, February 24th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $167.50.

Jabil Trading Down 2.5 %

NYSE:JBL traded down $3.43 during trading hours on Friday, reaching $135.97. The company's stock had a trading volume of 996,341 shares, compared to its average volume of 1,438,985. The firm has a 50-day simple moving average of $154.45 and a 200-day simple moving average of $139.59. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $174.80. The firm has a market capitalization of $14.84 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 1.65 and a beta of 1.19. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06.

Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.11. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The firm had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same period last year, the company earned $1.68 EPS. The business's quarterly revenue was down .6% compared to the same quarter last year. Research analysts expect that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. Jabil's dividend payout ratio is presently 7.66%.

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).