Raymond James Financial Inc. Invests $43.31 Million in Jabil Inc. (NYSE:JBL)

Raymond James Financial Inc. acquired a new stake in shares of Jabil Inc. (NYSE:JBL - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 300,990 shares of the technology company's stock, valued at approximately $43,312,000. Raymond James Financial Inc. owned about 0.28% of Jabil as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Wellington Management Group LLP lifted its holdings 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 valued at $835,876,000 after acquiring an additional 5,800,535 shares during the period. FMR LLC lifted its stake 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 valued at $796,220,000 after purchasing an additional 416,841 shares during the period. Geode Capital Management LLC boosted its holdings in Jabil by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company's stock worth $404,024,000 after buying an additional 34,574 shares in the last quarter. JPMorgan Chase & Co. grew 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 buying an additional 288,806 shares during the period. Finally, Norges Bank acquired a new stake in Jabil during the fourth quarter valued at $218,430,000. Institutional investors and hedge funds own 93.39% of the company's stock.

Jabil Price Performance

Shares of NYSE JBL traded down $2.83 during midday trading on Monday, hitting $132.21. The stock had a trading volume of 78,958 shares, compared to its average volume of 1,475,683. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $174.80. The company has a market capitalization of $14.19 billion, a PE ratio of 12.68, a P/E/G ratio of 1.65 and a beta of 1.12. The stock has a 50 day simple moving average of $142.95 and a 200-day simple moving average of $141.69.

Jabil (NYSE:JBL - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.11. The company had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.40 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The firm's revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $1.68 EPS. On average, sell-side analysts expect that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

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

Insider Buying and Selling at Jabil

In other Jabil news, Chairman Mark T. Mondello sold 20,000 shares of Jabil stock in a transaction on Friday, April 11th. The stock was sold at an average price of $131.56, for a total value of $2,631,200.00. Following the sale, the chairman now owns 1,730,192 shares in the company, valued at $227,624,059.52. The trade was a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John C. Plant sold 50,000 shares of the stock in a transaction on 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 of the company's stock, valued at approximately $1,018,045. This represents a 89.45 % 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 $11,810,418 in the last ninety days. 1.73% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on JBL shares. JPMorgan Chase & Co. lowered their target price on shares of Jabil from $175.00 to $154.00 and set an "overweight" rating on the stock in a research note on Thursday. UBS Group increased their price target on Jabil from $152.00 to $157.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. The Goldman Sachs Group cut their price objective on Jabil from $175.00 to $146.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Barclays increased 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. Finally, StockNews.com cut shares of Jabil from a "buy" rating to a "hold" rating in a research note on Friday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target 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).