1,517,932 Shares in Jabil Inc. (NYSE:JBL) Bought by Norges Bank

Norges Bank bought a new position in shares of Jabil Inc. (NYSE:JBL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,517,932 shares of the technology company's stock, valued at approximately $218,430,000. Norges Bank owned approximately 1.39% of Jabil as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in Jabil during the fourth quarter worth approximately $27,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Jabil during the 4th quarter worth $29,000. Millstone Evans Group LLC acquired a new position in shares of Jabil during the 4th quarter valued at about $37,000. First Horizon Advisors Inc. increased its position in Jabil by 90.3% during the fourth quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company's stock worth $39,000 after purchasing an additional 130 shares during the last quarter. Finally, GHP Investment Advisors Inc. purchased a new position in Jabil during the fourth quarter worth about $43,000. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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Insider Buying and Selling

In other news, Director John C. Plant sold 50,000 shares of the stock in a transaction dated 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 owns 5,900 shares in the company, valued at approximately $1,018,045. This represents a 89.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christopher S. Holland sold 3,400 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $162.27, for a total value of $551,718.00. Following the sale, the director now directly owns 12,900 shares in the company, valued at $2,093,283. This trade represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,400 shares of company stock worth $12,804,458. Company insiders own 1.73% of the company's stock.

Jabil Trading Up 1.8 %

Shares of JBL stock traded up $2.45 on Wednesday, hitting $138.87. The stock had a trading volume of 912,154 shares, compared to its average volume of 1,437,435. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72. The firm has a market capitalization of $15.16 billion, a P/E ratio of 13.31, a P/E/G ratio of 1.65 and a beta of 1.19. The company's 50 day moving average price is $153.29 and its 200-day moving average price is $140.29. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $174.80.

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, beating the consensus estimate of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company had revenue of $6.73 billion during the quarter, compared to analysts' expectations of $6.40 billion. During the same quarter last year, the company posted $1.68 EPS. The firm's revenue was down .6% compared to the same quarter last year. Analysts anticipate that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Tuesday, February 18th. Jabil's dividend payout ratio is presently 7.66%.

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).