Primecap Management Co. CA Acquires 9,685 Shares of Jabil Inc. (NYSE:JBL)

Primecap Management Co. CA boosted its holdings in Jabil Inc. (NYSE:JBL - Free Report) by 0.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,692,560 shares of the technology company's stock after purchasing an additional 9,685 shares during the quarter. Primecap Management Co. CA owned approximately 3.27% of Jabil worth $442,479,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in shares of Jabil by 6.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,589 shares of the technology company's stock valued at $195,000 after acquiring an additional 90 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in shares of Jabil by 2.9% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,234 shares of the technology company's stock valued at $387,000 after acquiring an additional 91 shares during the last quarter. Gateway Investment Advisers LLC boosted its position in shares of Jabil by 3.5% during the 3rd quarter. Gateway Investment Advisers LLC now owns 3,139 shares of the technology company's stock valued at $376,000 after acquiring an additional 105 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Jabil by 15.3% during the 2nd quarter. GAMMA Investing LLC now owns 797 shares of the technology company's stock valued at $87,000 after acquiring an additional 106 shares during the last quarter. Finally, M&R Capital Management Inc. boosted its position in shares of Jabil by 8.4% during the 2nd quarter. M&R Capital Management Inc. now owns 1,380 shares of the technology company's stock valued at $150,000 after acquiring an additional 107 shares during the last quarter. 93.39% of the stock is currently owned by institutional investors.

Jabil Stock Performance

Shares of Jabil stock opened at $128.18 on Thursday. The business's fifty day simple moving average is $122.79 and its 200-day simple moving average is $115.65. Jabil Inc. has a 52 week low of $95.85 and a 52 week high of $156.94. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. The firm has a market cap of $14.46 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 1.50 and a beta of 1.24.

Jabil (NYSE:JBL - Get Free Report) last posted its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.22 by $0.08. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.59 billion. During the same quarter last year, the company earned $2.34 EPS. Jabil's revenue for the quarter was down 17.7% compared to the same quarter last year. Equities analysts forecast that Jabil Inc. will post 7.84 earnings per share for the current year.

Jabil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.25%. Jabil's dividend payout ratio is currently 2.90%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on JBL. Stifel Nicolaus lifted their target price on Jabil from $130.00 to $140.00 and gave the stock a "buy" rating in a research report on Friday, September 27th. Barclays lifted their target price on Jabil from $135.00 to $157.00 and gave the stock an "overweight" rating in a research report on Friday, September 27th. Bank of America lifted their target price on Jabil from $135.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday, September 27th. Finally, JPMorgan Chase & Co. decreased their target price on Jabil from $137.00 to $133.00 and set an "overweight" rating for the company in a research report on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Jabil has a consensus rating of "Moderate Buy" and a consensus target price of $143.50.

Insider Activity

In other news, Director Steven A. Raymund sold 20,000 shares of Jabil stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $124.70, for a total value of $2,494,000.00. Following the completion of the sale, the director now owns 139,108 shares of the company's stock, valued at $17,346,767.60. The trade was a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Frederic E. Mccoy sold 4,000 shares of the business's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total value of $474,800.00. Following the sale, the executive vice president now directly owns 108,753 shares of the company's stock, valued at approximately $12,908,981.10. This trade represents a 3.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,689 shares of company stock valued at $5,377,431 in the last three months. 2.62% of the stock is currently owned by company insiders.

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).

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