Canada Pension Plan Investment Board Lowers Position in Jabil Inc. (NYSE:JBL)

Canada Pension Plan Investment Board reduced its stake in shares of Jabil Inc. (NYSE:JBL - Free Report) by 13.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,742 shares of the technology company's stock after selling 10,658 shares during the quarter. Canada Pension Plan Investment Board owned 0.06% of Jabil worth $10,036,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of JBL. Wellington Management Group LLP raised its position in Jabil by 70,781.4% during the 4th quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company's stock valued at $835,876,000 after purchasing an additional 5,800,535 shares during the last quarter. Norges Bank purchased a new stake in Jabil in the fourth quarter worth $218,430,000. FMR LLC increased its position in 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 purchasing an additional 416,841 shares during the period. Raymond James Financial Inc. bought a new position in Jabil in the 4th quarter worth $43,312,000. Finally, JPMorgan Chase & Co. boosted its position in Jabil by 18.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company's stock valued at $270,187,000 after acquiring an additional 288,806 shares in the last quarter. Hedge funds and other institutional investors own 93.39% of the company's stock.

Jabil Stock Performance

NYSE:JBL traded up $0.54 during mid-day trading on Friday, reaching $146.67. The company's stock had a trading volume of 1,049,670 shares, compared to its average volume of 1,472,070. The firm's fifty day moving average price is $140.37 and its two-hundred day moving average price is $141.83. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. The stock has a market cap of $15.74 billion, a P/E ratio of 14.06, a PEG ratio of 1.65 and a beta of 1.12. Jabil Inc. has a 12-month low of $95.85 and a 12-month high of $174.80.

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, beating analysts' consensus estimates of $1.83 by $0.11. The company 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 firm's revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.68 earnings per share. On average, equities analysts forecast that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders 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 dividend payout ratio is presently 7.66%.

Insider Activity

In other news, Director Christopher S. Holland sold 3,400 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $162.27, for a total value of $551,718.00. Following the completion of the sale, the director now directly owns 12,900 shares of the company's stock, valued at $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 available at this hyperlink. Also, Chairman Mark T. Mondello sold 20,000 shares of the firm's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $131.56, for a total transaction of $2,631,200.00. Following the sale, the chairman now owns 1,730,192 shares in the company, valued at $227,624,059.52. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on JBL shares. StockNews.com cut shares of Jabil from a "buy" rating to a "hold" rating in a 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. The Goldman Sachs Group lowered 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. JPMorgan Chase & Co. lowered their price target on Jabil from $175.00 to $154.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, Barclays increased their price objective 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. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Jabil presently has a consensus rating of "Moderate Buy" and a consensus target price of $158.50.

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).