CANADA LIFE ASSURANCE Co Trims Stock Holdings in Jabil Inc. (NYSE:JBL)

CANADA LIFE ASSURANCE Co lessened its holdings in shares of Jabil Inc. (NYSE:JBL - Free Report) by 29.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,451 shares of the technology company's stock after selling 25,218 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.05% of Jabil worth $8,553,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP lifted its position in Jabil by 70,781.4% during the fourth quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company's stock worth $835,876,000 after buying an additional 5,800,535 shares in the last quarter. Norges Bank purchased a new position in shares of Jabil during the 4th quarter worth $218,430,000. FMR LLC boosted its position in shares of Jabil by 8.1% during the 4th quarter. FMR LLC now owns 5,533,149 shares of the technology company's stock valued at $796,220,000 after acquiring an additional 416,841 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Jabil in the fourth quarter valued at about $43,312,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Jabil by 18.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company's stock valued at $270,187,000 after purchasing an additional 288,806 shares during the period. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on JBL shares. JPMorgan Chase & Co. lowered their price objective on Jabil from $175.00 to $154.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Barclays boosted their price objective on shares of Jabil from $179.00 to $184.00 and gave the company an "overweight" rating in a report on Friday, March 21st. StockNews.com cut shares of Jabil from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. UBS Group upped their price objective on shares of Jabil from $152.00 to $157.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Finally, The Goldman Sachs Group dropped their target price on shares of Jabil from $175.00 to $146.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $158.50.

Insider Buying and Selling

In related news, Director Christopher S. Holland sold 3,400 shares of the company'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 completion of the transaction, the director now owns 12,900 shares of the company's stock, valued at approximately $2,093,283. This represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction on Friday, April 11th. The stock was sold at an average price of $131.56, for a total value of $2,631,200.00. Following the completion of the transaction, the chairman now directly owns 1,730,192 shares in the company, valued at $227,624,059.52. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.73% of the stock is owned by company insiders.

Jabil Stock Performance

JBL stock traded up $0.54 during trading on Friday, hitting $146.67. The company had a trading volume of 1,049,670 shares, compared to its average volume of 1,472,070. The firm has a 50-day moving average price of $140.37 and a 200-day moving average price of $141.83. 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 firm has a market cap of $15.74 billion, a PE ratio of 14.06, 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 issued its earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.11. The business had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.40 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The business's quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.68 earnings per share. On average, analysts expect that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Thursday, May 15th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend is Thursday, May 15th. Jabil's payout ratio is 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).