NewEdge Advisors LLC Boosts Stock Holdings in Jabil Inc. (NYSE:JBL)

NewEdge Advisors LLC lifted its holdings in Jabil Inc. (NYSE:JBL - Free Report) by 234.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,254 shares of the technology company's stock after purchasing an additional 8,585 shares during the period. NewEdge Advisors LLC's holdings in Jabil were worth $1,763,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Wellington Management Group LLP raised its stake in 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 worth $835,876,000 after buying an additional 5,800,535 shares in the last quarter. Norges Bank purchased a new position in shares of Jabil in the 4th quarter valued at $218,430,000. FMR LLC raised its position in shares of Jabil by 8.1% in the 4th quarter. FMR LLC now owns 5,533,149 shares of the technology company's stock worth $796,220,000 after acquiring an additional 416,841 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Jabil during the 4th quarter worth $43,312,000. Finally, JPMorgan Chase & Co. boosted its position in 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 purchasing an additional 288,806 shares in the last quarter. Hedge funds and other institutional investors own 93.39% of the company's stock.

Jabil Trading Up 2.6 %

NYSE:JBL opened at $133.18 on Wednesday. The company has a market capitalization of $14.30 billion, a P/E ratio of 12.77, a PEG ratio of 1.65 and a beta of 1.12. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. Jabil Inc. has a 12 month low of $95.85 and a 12 month high of $174.80. The firm has a fifty day simple moving average of $141.46 and a 200-day simple moving average of $141.69.

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

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend is Thursday, May 15th. Jabil's dividend payout ratio is presently 7.66%.

Insider Buying and Selling at Jabil

In related news, Chairman Mark T. Mondello sold 20,000 shares of the firm's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $131.56, for a total transaction of $2,631,200.00. Following the sale, the chairman now directly owns 1,730,192 shares of the company's stock, valued at $227,624,059.52. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher S. Holland sold 3,400 shares of the business's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $162.27, for a total value 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. The trade was a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,400 shares of company stock worth $11,810,418. Company insiders own 1.73% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on JBL shares. Barclays boosted their target price on shares of Jabil from $179.00 to $184.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. JPMorgan Chase & Co. decreased their target price on shares of Jabil from $175.00 to $154.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. UBS Group raised their target price on shares of Jabil from $152.00 to $157.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. The Goldman Sachs Group reduced their price target on Jabil from $175.00 to $146.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, StockNews.com cut Jabil from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Jabil currently has a consensus rating of "Moderate Buy" and a consensus target price of $158.50.

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).

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