Harvest Fund Management Co. Ltd Invests $652,000 in Jabil Inc. (NYSE:JBL)

Harvest Fund Management Co. Ltd bought a new position in shares of Jabil Inc. (NYSE:JBL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,530 shares of the technology company's stock, valued at approximately $652,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Meyer Handelman Co. acquired a new position in Jabil during the fourth quarter worth about $7,334,000. Davis Investment Partners LLC purchased a new position in Jabil in the 4th quarter worth approximately $1,433,000. Truist Financial Corp boosted its holdings in shares of Jabil by 50.4% during the 4th quarter. Truist Financial Corp now owns 12,037 shares of the technology company's stock worth $1,732,000 after purchasing an additional 4,034 shares during the last quarter. Merit Financial Group LLC purchased a new stake in shares of Jabil in the fourth quarter valued at approximately $235,000. Finally, Keybank National Association OH acquired a new stake in shares of Jabil in the fourth quarter valued at approximately $214,000. Institutional investors and hedge funds own 93.39% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on JBL shares. StockNews.com raised Jabil from a "hold" rating to a "buy" rating in a research note on Friday. Stifel Nicolaus reissued a "buy" rating and set a $160.00 price target (up previously from $150.00) on shares of Jabil in a research report on Thursday, December 19th. The Goldman Sachs Group raised their price objective on shares of Jabil from $160.00 to $179.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. Barclays boosted their target price on shares of Jabil from $179.00 to $184.00 and gave the company an "overweight" rating in a report on Friday. Finally, JPMorgan Chase & Co. raised their price target on shares of Jabil from $172.00 to $175.00 and gave the stock an "overweight" rating in a report on Friday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $167.50.

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Insiders Place Their Bets

In other Jabil news, Director John C. Plant sold 50,000 shares of the company's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $172.55, for a total transaction of $8,627,500.00. Following the sale, the director now owns 5,900 shares in the company, valued at $1,018,045. This represents a 89.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher S. Holland sold 3,400 shares of Jabil stock in a transaction dated 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 transaction, the director now owns 12,900 shares of the company's stock, valued at $2,093,283. The trade was a 20.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 77,400 shares of company stock worth $12,804,458 over the last three months. Company insiders own 1.73% of the company's stock.

Jabil Trading Down 1.2 %

Shares of Jabil stock traded down $1.77 on Tuesday, reaching $148.20. The company had a trading volume of 1,921,447 shares, compared to its average volume of 1,392,244. The firm's 50 day moving average price is $155.89 and its two-hundred day moving average price is $138.73. 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 Inc. has a 52-week low of $95.85 and a 52-week high of $174.80. The firm has a market cap of $16.18 billion, a PE ratio of 14.21, a PEG ratio of 1.65 and a beta of 1.19.

Jabil (NYSE:JBL - Get Free Report) last announced its earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same quarter in the previous year, the company earned $1.68 earnings per share. The firm's quarterly revenue was down .6% compared to the same quarter last year. 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 announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.22%. The ex-dividend date was Tuesday, February 18th. Jabil's dividend payout ratio is currently 7.66%.

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).