Pictet Asset Management Holding SA Has $7.60 Million Stake in Jabil Inc. (NYSE:JBL)

Pictet Asset Management Holding SA lessened its stake in Jabil Inc. (NYSE:JBL - Free Report) by 21.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 52,835 shares of the technology company's stock after selling 14,667 shares during the quarter. Pictet Asset Management Holding SA's holdings in Jabil were worth $7,603,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JBL. Bleakley Financial Group LLC increased its stake in shares of Jabil by 2.2% in the fourth quarter. Bleakley Financial Group LLC now owns 3,273 shares of the technology company's stock worth $471,000 after acquiring an additional 70 shares during the last quarter. Greenleaf Trust increased its position in Jabil by 1.3% in the 4th quarter. Greenleaf Trust now owns 5,671 shares of the technology company's stock worth $816,000 after purchasing an additional 72 shares during the last quarter. Resonant Capital Advisors LLC raised its stake in shares of Jabil by 3.3% during the 4th quarter. Resonant Capital Advisors LLC now owns 2,539 shares of the technology company's stock worth $365,000 after purchasing an additional 80 shares in the last quarter. Lifestyle Asset Management Inc. lifted its holdings in shares of Jabil by 1.0% during the 4th quarter. Lifestyle Asset Management Inc. now owns 9,618 shares of the technology company's stock valued at $1,384,000 after buying an additional 95 shares during the last quarter. Finally, Savant Capital LLC grew its stake in shares of Jabil by 1.9% in the 4th quarter. Savant Capital LLC now owns 5,332 shares of the technology company's stock valued at $767,000 after buying an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 93.39% of the company's stock.

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Jabil Stock Performance

Shares of Jabil stock traded down $1.09 during trading on Tuesday, reaching $120.19. The company's stock had a trading volume of 2,493,991 shares, compared to its average volume of 1,465,709. 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 business's fifty day moving average price is $148.20 and its 200-day moving average price is $140.67. The firm has a market cap of $13.12 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 1.65 and a beta of 1.12. Jabil Inc. has a one year low of $95.85 and a one year high of $174.80.

Jabil (NYSE:JBL - Get Free Report) last released its earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share 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 business 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 earned $1.68 earnings per share. The firm's revenue was down .6% on a year-over-year basis. As a group, equities research analysts predict that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were given a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.32 annualized dividend and a yield of 0.27%. Jabil's dividend payout ratio (DPR) is currently 7.66%.

Insiders Place Their Bets

In related news, Director Christopher S. Holland sold 3,400 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was 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 owns 12,900 shares in the company, valued at $2,093,283. This trade represents a 20.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of the stock in a transaction 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 transaction, the director now owns 119,108 shares of the company's stock, valued at $18,021,040.40. This represents a 14.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 73,400 shares of company stock worth $12,205,218 over the last 90 days. Corporate insiders own 1.73% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Stifel Nicolaus reaffirmed a "buy" rating and set a $160.00 price objective (up previously from $150.00) on shares of Jabil in a research report on Thursday, December 19th. JPMorgan Chase & Co. lifted their price objective 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. Barclays increased their target price on shares of Jabil from $179.00 to $184.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. The Goldman Sachs Group upped their price target on Jabil from $160.00 to $179.00 and gave the stock a "buy" rating in a research note on Monday, February 24th. Finally, UBS Group raised 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 issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $167.50.

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).