Empowered Funds LLC Acquires 15,413 Shares of Jabil Inc. (NYSE:JBL)

Empowered Funds LLC boosted its stake in Jabil Inc. (NYSE:JBL - Free Report) by 11.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 145,682 shares of the technology company's stock after buying an additional 15,413 shares during the period. Empowered Funds LLC owned approximately 0.13% of Jabil worth $17,457,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in JBL. Primecap Management Co. CA raised its holdings in Jabil by 3.0% in the 2nd quarter. Primecap Management Co. CA now owns 3,682,875 shares of the technology company's stock valued at $400,660,000 after acquiring an additional 107,800 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Jabil by 7.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,636,737 shares of the technology company's stock valued at $178,058,000 after purchasing an additional 106,808 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Jabil by 29.0% during the second quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company's stock worth $150,463,000 after purchasing an additional 310,590 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Jabil by 195.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company's stock valued at $115,404,000 after purchasing an additional 702,199 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Jabil in the 2nd quarter valued at $78,660,000. Institutional investors and hedge funds own 93.39% of the company's stock.

Insider Buying and Selling

In other Jabil news, 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 sale, the executive vice president now directly owns 108,753 shares of the company's stock, valued at approximately $12,908,981.10. The trade was a 3.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Matthew Crowley sold 1,380 shares of Jabil stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $125.83, for a total value of $173,645.40. Following the transaction, the executive vice president now directly owns 18,568 shares in the company, valued at approximately $2,336,411.44. The trade was a 6.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,689 shares of company stock valued at $5,377,431 over the last ninety days. 2.62% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Jabil Trading Down 0.5 %

NYSE JBL traded down $0.70 during mid-day trading on Friday, reaching $128.26. 1,070,235 shares of the stock were exchanged, compared to its average volume of 1,449,458. The stock has a market cap of $14.47 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.55 and a beta of 1.24. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72. Jabil Inc. has a one year low of $95.85 and a one year high of $156.94. The stock has a 50 day simple moving average of $120.72 and a 200-day simple moving average of $115.34.

Jabil (NYSE:JBL - Get Free Report) last announced its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.22 by $0.08. The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.59 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The firm's revenue was down 17.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.34 EPS. On average, analysts anticipate that Jabil Inc. will post 7.84 EPS for the current year.

Jabil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. Jabil's payout ratio is presently 2.90%.

Jabil 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).