Meyer Handelman Co. Purchases Shares of 50,967 Jabil Inc. (NYSE:JBL)

Meyer Handelman Co. purchased a new stake in Jabil Inc. (NYSE:JBL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,967 shares of the technology company's stock, valued at approximately $7,334,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Davis Investment Partners LLC acquired a new stake in shares of Jabil during the fourth quarter worth $1,433,000. Nicola Wealth Management LTD. lifted its stake in Jabil by 54.9% during the third quarter. Nicola Wealth Management LTD. now owns 39,500 shares of the technology company's stock valued at $4,733,000 after buying an additional 14,000 shares in the last quarter. Foster & Motley Inc. boosted its holdings in shares of Jabil by 8.7% in the third quarter. Foster & Motley Inc. now owns 52,173 shares of the technology company's stock worth $6,252,000 after buying an additional 4,181 shares during the period. Empowered Funds LLC increased its position in shares of Jabil by 11.8% in the third quarter. Empowered Funds LLC now owns 145,682 shares of the technology company's stock worth $17,457,000 after acquiring an additional 15,413 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Jabil by 58.7% during the third quarter. BNP Paribas Financial Markets now owns 192,815 shares of the technology company's stock valued at $23,105,000 after acquiring an additional 71,292 shares during the period. Institutional investors and hedge funds own 93.39% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on JBL shares. The Goldman Sachs Group lifted their price objective on shares of Jabil from $136.00 to $145.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Bank of America upped their price target on Jabil from $135.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, September 27th. StockNews.com lowered Jabil from a "buy" rating to a "hold" rating in a research report on Monday. UBS Group increased their price target on shares of Jabil from $128.00 to $152.00 and gave the stock a "neutral" rating in a research report on Thursday, December 19th. Finally, Barclays boosted their price objective on shares of Jabil from $157.00 to $179.00 and gave the company an "overweight" rating in a research report on Friday, December 20th. Three research 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 has an average rating of "Moderate Buy" and an average target price of $153.17.

Jabil Stock Up 1.5 %

Shares of NYSE JBL traded up $2.28 during trading hours on Wednesday, hitting $158.25. The stock had a trading volume of 1,020,226 shares, compared to its average volume of 1,264,691. The company has a market capitalization of $17.68 billion, a P/E ratio of 14.36, a P/E/G ratio of 1.58 and a beta of 1.23. The firm's 50-day moving average price is $139.30 and its two-hundred day moving average price is $122.25. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.72 and a current ratio of 1.09. Jabil Inc. has a 52 week low of $95.85 and a 52 week high of $159.60.

Jabil (NYSE:JBL - Get Free Report) last announced its quarterly earnings results on Wednesday, December 18th. The technology company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.88 by $0.12. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The company had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.61 billion. During the same quarter in the prior year, the business posted $2.60 EPS. Jabil's quarterly revenue was down 16.6% on a year-over-year basis. Analysts anticipate that Jabil Inc. will post 7.89 EPS for the current fiscal year.

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend was Friday, November 15th. Jabil's payout ratio is 3.07%.

Insider Buying and Selling

In other news, Director Steven A. Raymund sold 20,000 shares of the business's stock in a transaction 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 completion of the sale, the director now directly owns 119,108 shares in the company, valued at approximately $18,021,040.40. The trade was a 14.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Matthew Crowley sold 2,271 shares of the firm's stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $123.54, for a total transaction of $280,559.34. Following the completion of the transaction, the executive vice president now owns 15,564 shares in the company, valued at $1,922,776.56. The trade was a 12.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,689 shares of company stock worth $8,527,871. 1.73% of the stock is currently owned by insiders.

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).