Geode Capital Management LLC Purchases 34,574 Shares of Jabil Inc. (NYSE:JBL)

Geode Capital Management LLC grew its position in Jabil Inc. (NYSE:JBL - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,810,519 shares of the technology company's stock after buying an additional 34,574 shares during the quarter. Geode Capital Management LLC owned 2.57% of Jabil worth $404,024,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in shares of Jabil by 70,781.4% in the fourth 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 in the last quarter. Norges Bank purchased a new stake in Jabil in the 4th quarter valued at approximately $218,430,000. Two Sigma Advisers LP increased its position in Jabil by 406.5% during the third quarter. Two Sigma Advisers LP now owns 722,800 shares of the technology company's stock worth $86,613,000 after buying an additional 580,100 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Jabil in the fourth quarter valued at $43,312,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Jabil by 18.2% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 93.39% of the company's stock.

Analyst Ratings Changes

JBL has been the topic of several analyst reports. Barclays raised their price target on shares of Jabil from $179.00 to $184.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Stifel Nicolaus reissued a "buy" rating and set a $160.00 target price (up previously from $150.00) on shares of Jabil in a research report on Thursday, December 19th. JPMorgan Chase & Co. raised their target price on shares of Jabil from $172.00 to $175.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. StockNews.com raised shares of Jabil from a "hold" rating to a "buy" rating in a research report on Friday, March 21st. Finally, The Goldman Sachs Group boosted their price objective on Jabil from $160.00 to $179.00 and gave the stock a "buy" rating in a research note on Monday, February 24th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $167.50.

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Jabil Price Performance

Shares of JBL stock traded down $7.47 during midday trading on Thursday, reaching $129.92. 604,275 shares of the company were exchanged, compared to its average volume of 1,477,258. Jabil Inc. has a 12 month low of $95.85 and a 12 month high of $174.80. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. The company's 50 day moving average price is $147.20 and its two-hundred day moving average price is $140.82. The company has a market cap of $14.18 billion, a P/E ratio of 12.47, a PEG ratio of 1.65 and a beta of 1.12.

Jabil (NYSE:JBL - Get Free Report) last released its quarterly earnings data 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. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same period last year, the company posted $1.68 EPS. The company's revenue was down .6% compared to the same quarter last year. On average, sell-side analysts expect that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil's dividend payout ratio is currently 7.66%.

Insiders Place Their Bets

In related news, 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 transaction of $551,718.00. Following the completion of the transaction, the director now directly owns 12,900 shares of the company's stock, valued at $2,093,283. This trade represents a 20.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven A. Raymund sold 20,000 shares of the business's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $151.30, for a total value of $3,026,000.00. Following the completion of the transaction, the director now directly owns 119,108 shares in the company, valued at $18,021,040.40. The trade was a 14.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,400 shares of company stock valued at $12,205,218 in the last three months. Insiders own 1.73% of the company's stock.

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).