Allstate Corp Invests $472,000 in Jabil Inc. (NYSE:JBL)

Allstate Corp bought a new position in shares of Jabil Inc. (NYSE:JBL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,278 shares of the technology company's stock, valued at approximately $472,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new stake in Jabil during the fourth quarter worth $27,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Jabil during the 4th quarter valued at approximately $29,000. Millstone Evans Group LLC acquired a new stake in Jabil in the 4th quarter valued at $37,000. First Horizon Advisors Inc. increased its holdings in Jabil by 90.3% in the 4th quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company's stock worth $39,000 after acquiring an additional 130 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Jabil by 113.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 297 shares of the technology company's stock worth $43,000 after acquiring an additional 158 shares during the period. Institutional investors and hedge funds own 93.39% of the company's stock.

Insider Buying and Selling

In other Jabil news, Director John C. Plant sold 50,000 shares of the business's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $172.55, for a total value of $8,627,500.00. Following the transaction, the director now directly owns 5,900 shares in the company, valued at $1,018,045. The trade was a 89.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of the firm's stock in a transaction that occurred on 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 sale, the director now owns 119,108 shares of the company's stock, valued at $18,021,040.40. This represents a 14.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,400 shares of company stock worth $12,205,218. Insiders own 1.73% of the company's stock.

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Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on JBL. UBS Group lifted their target price on shares of Jabil from $152.00 to $157.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. The Goldman Sachs Group lifted their price objective on Jabil from $160.00 to $179.00 and gave the stock a "buy" rating in a report on Monday, February 24th. StockNews.com raised Jabil from a "hold" rating to a "buy" rating in a report on Friday, March 21st. Stifel Nicolaus reaffirmed a "buy" rating and issued a $160.00 price target (up from $150.00) on shares of Jabil in a research note on Thursday, December 19th. Finally, Barclays boosted their price target on Jabil from $179.00 to $184.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Jabil presently has a consensus rating of "Moderate Buy" and a consensus price target of $167.50.

Jabil Price Performance

Shares of Jabil stock traded down $6.36 on Friday, hitting $117.13. 3,385,071 shares of the company were exchanged, compared to its average volume of 1,454,752. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The company has a 50-day moving average price of $150.60 and a 200 day moving average price of $140.70. The stock has a market capitalization of $12.79 billion, a price-to-earnings ratio of 11.23, a price-to-earnings-growth ratio of 1.65 and a beta of 1.12. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $174.80.

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

Jabil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Tuesday, February 18th. Jabil's dividend payout ratio is currently 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).