Jabil Inc. (NYSE:JBL) Shares Bought by LPL Financial LLC

LPL Financial LLC lifted its stake in Jabil Inc. (NYSE:JBL - Free Report) by 23.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,748 shares of the technology company's stock after acquiring an additional 7,747 shares during the period. LPL Financial LLC's holdings in Jabil were worth $5,864,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in JBL. Meyer Handelman Co. acquired a new stake in Jabil in the fourth quarter valued at approximately $7,334,000. Davis Investment Partners LLC acquired a new stake in shares of Jabil in the 4th quarter worth $1,433,000. Truist Financial Corp grew its stake in 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 buying an additional 4,034 shares during the last quarter. Merit Financial Group LLC purchased a new position in Jabil during the 4th quarter worth $235,000. Finally, Keybank National Association OH acquired a new position in Jabil during the 4th quarter valued at about $214,000. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Jabil Stock Performance

Shares of NYSE:JBL traded down $0.19 during midday trading on Friday, reaching $131.85. The company's stock had a trading volume of 1,688,307 shares, compared to its average volume of 1,481,218. 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 stock has a fifty day moving average of $146.05 and a 200 day moving average of $141.08. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $174.80. The firm has a market capitalization of $14.40 billion, a PE ratio of 12.64, a P/E/G ratio of 1.65 and a beta of 1.12.

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Jabil (NYSE:JBL - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 41.87% and a net margin of 4.71%. The firm's revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm earned $1.68 EPS. On average, equities analysts expect that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Dividend Announcement

The company 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. The ex-dividend date was Tuesday, February 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. Jabil's payout ratio is 7.66%.

Insider Transactions at Jabil

In other Jabil news, Director Christopher S. Holland sold 3,400 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $162.27, for a total transaction of $551,718.00. Following the transaction, the director now owns 12,900 shares in the company, 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 can be accessed through this hyperlink. Also, Director John C. Plant sold 50,000 shares of the business's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $172.55, for a total value of $8,627,500.00. Following the completion of the sale, the director now owns 5,900 shares of the company's stock, valued at $1,018,045. This trade represents a 89.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. StockNews.com upgraded Jabil from a "hold" rating to a "buy" rating in a research note on Friday, March 21st. Barclays boosted their target price on shares of Jabil from $179.00 to $184.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. The Goldman Sachs Group decreased their price target on shares of Jabil from $175.00 to $146.00 and set a "buy" rating for the company in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Jabil from $172.00 to $175.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Finally, UBS Group upped their target price on Jabil from $152.00 to $157.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. One equities research analyst has 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 price target of $162.00.

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).