Magnetar Financial LLC Buys 3,266 Shares of Jabil Inc. (NYSE:JBL)

Magnetar Financial LLC grew its stake in shares of Jabil Inc. (NYSE:JBL - Free Report) by 120.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 5,979 shares of the technology company's stock after acquiring an additional 3,266 shares during the quarter. Magnetar Financial LLC's holdings in Jabil were worth $860,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new stake in shares of Jabil during the 4th quarter worth approximately $27,000. Brooklyn Investment Group bought a new position in shares of Jabil in the 3rd quarter valued at $39,000. First Horizon Advisors Inc. raised its holdings in shares of Jabil by 90.3% during the 4th quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company's stock worth $39,000 after buying an additional 130 shares in the last quarter. GHP Investment Advisors Inc. bought a new stake in shares of Jabil during the 4th quarter worth $43,000. Finally, Smartleaf Asset Management LLC grew its position in Jabil by 113.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 297 shares of the technology company's stock valued at $43,000 after acquiring an additional 158 shares during the last quarter. 93.39% of the stock is owned by institutional investors and hedge funds.

Jabil Trading Down 3.0 %

Shares of NYSE:JBL traded down $4.41 during midday trading on Wednesday, reaching $143.88. The company's stock had a trading volume of 1,539,662 shares, compared to its average volume of 1,396,194. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week 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 firm has a 50 day moving average price of $155.73 and a two-hundred day moving average price of $139.06. The firm has a market capitalization of $15.71 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 1.65 and a beta of 1.19.

Remove Ads

Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.11. The firm had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.40 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The company's revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.68 earnings per share. As a group, analysts forecast that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil's payout ratio is 7.66%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on JBL shares. StockNews.com upgraded shares of Jabil from a "hold" rating to a "buy" rating in a research note on Friday, March 21st. 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. The Goldman Sachs Group upped their price target on shares of Jabil from $160.00 to $179.00 and gave the stock a "buy" rating in a report on Monday, February 24th. Barclays raised their price objective on Jabil from $179.00 to $184.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Finally, UBS Group upped their price objective on Jabil from $152.00 to $157.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Jabil currently has a consensus rating of "Moderate Buy" and an average price target of $167.50.

Insider Buying and Selling at Jabil

In other news, Director Steven A. Raymund sold 20,000 shares of the firm's stock in a transaction dated 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 sale, the director now directly owns 119,108 shares in the company, valued at $18,021,040.40. This trade represents a 14.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $8,627,500.00. Following the transaction, the director now directly owns 5,900 shares in the company, valued at $1,018,045. The trade was a 89.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,400 shares of company stock valued at $12,804,458. Corporate insiders own 1.73% of the company's stock.

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).