M&T Bank Corp Grows Position in Jabil Inc. (NYSE:JBL)

M&T Bank Corp grew its holdings in shares of Jabil Inc. (NYSE:JBL - Free Report) by 28.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,935 shares of the technology company's stock after acquiring an additional 4,006 shares during the quarter. M&T Bank Corp's holdings in Jabil were worth $2,581,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Meyer Handelman Co. bought a new stake in shares of Jabil during the 4th quarter valued at about $7,334,000. Davis Investment Partners LLC bought a new stake in shares of Jabil during the 4th quarter valued at about $1,433,000. Truist Financial Corp boosted its position 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 valued at $1,732,000 after acquiring an additional 4,034 shares during the last quarter. Nicola Wealth Management LTD. boosted its position in shares of Jabil by 54.9% during the 3rd quarter. Nicola Wealth Management LTD. now owns 39,500 shares of the technology company's stock valued at $4,733,000 after acquiring an additional 14,000 shares during the last quarter. Finally, Merit Financial Group LLC bought a new stake in shares of Jabil during the 4th quarter valued at about $235,000. Institutional investors own 93.39% of the company's stock.

Insider Activity

In related news, Director John C. Plant sold 50,000 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the director now owns 5,900 shares in the company, valued at $1,018,045. This represents a 89.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven A. Raymund sold 20,000 shares of the company's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $151.30, for a total value of $3,026,000.00. Following the transaction, the director now owns 119,108 shares of the company's stock, valued at approximately $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 90 days, insiders sold 77,400 shares of company stock valued at $12,804,458. 1.73% of the stock is currently owned by company insiders.

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Jabil Trading Up 1.1 %

Shares of NYSE:JBL traded up $1.49 during trading on Friday, reaching $139.74. 1,210,454 shares of the company traded hands, compared to its average volume of 1,308,524. The firm has a market capitalization of $15.26 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 1.65 and a beta of 1.19. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $174.80. 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 business's fifty day moving average is $158.43 and its 200-day moving average is $136.12.

Jabil (NYSE:JBL - Get Free Report) last released its quarterly earnings data on Wednesday, December 18th. The technology company reported $2.00 earnings per share for the quarter, beating analysts' consensus estimates of $1.88 by $0.12. The firm had revenue of $6.99 billion during the quarter, compared to analyst estimates of $6.61 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The business's quarterly revenue was down 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.60 earnings per share. As a group, analysts forecast that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Tuesday, February 18th. Jabil's dividend payout ratio (DPR) is presently 3.07%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on JBL shares. StockNews.com downgraded Jabil from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. UBS Group boosted their target price on Jabil from $128.00 to $152.00 and gave the stock a "neutral" rating in a research report on Thursday, December 19th. Barclays boosted their target price on Jabil from $157.00 to $179.00 and gave the stock an "overweight" rating in a research report on Friday, December 20th. The Goldman Sachs Group boosted their target price on Jabil from $160.00 to $179.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. Finally, Stifel Nicolaus restated a "buy" rating and issued a $160.00 target price (up previously from $150.00) on shares of Jabil in a research report on Thursday, December 19th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $158.83.

About Jabil

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).