Renaissance Group LLC 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 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 270,997 shares of the technology company's stock, valued at approximately $38,996,000. Jabil comprises 1.6% of Renaissance Group LLC's portfolio, making the stock its 12th biggest position. Renaissance Group LLC owned about 0.25% of Jabil at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of JBL. Wellington Management Group LLP grew its position in shares of Jabil by 70,781.4% during 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 purchasing an additional 5,800,535 shares in the last quarter. FMR LLC boosted its stake in Jabil by 8.1% during the fourth quarter. FMR LLC now owns 5,533,149 shares of the technology company's stock valued at $796,220,000 after buying an additional 416,841 shares during the last quarter. Geode Capital Management LLC grew its holdings in Jabil by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company's stock valued at $404,024,000 after buying an additional 34,574 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Jabil by 18.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company's stock worth $270,187,000 after acquiring an additional 288,806 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Jabil during the 4th quarter worth approximately $218,430,000. 93.39% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Jabil from $172.00 to $175.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Stifel Nicolaus restated a "buy" rating and issued a $160.00 target price (up from $150.00) on shares of Jabil in a report on Thursday, December 19th. UBS Group upped their target price on shares of Jabil from $152.00 to $157.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Barclays lifted their price target on Jabil from $179.00 to $184.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Finally, StockNews.com upgraded Jabil from a "hold" rating to a "buy" rating in a research report on Friday, March 21st. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $162.00.
Read Our Latest Research Report on Jabil
Insider Buying and Selling at Jabil
In other Jabil news, Director John C. Plant sold 50,000 shares of the company's 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 completion of the sale, the director now directly owns 5,900 shares in the company, valued at approximately $1,018,045. This represents a 89.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher S. Holland sold 3,400 shares of the firm's stock in a transaction 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 transaction, the director now owns 12,900 shares in the company, valued at approximately $2,093,283. This represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. 1.73% of the stock is owned by corporate insiders.
Jabil Trading Down 0.1 %
Jabil stock traded down $0.19 during midday trading on Friday, reaching $131.85. The stock had a trading volume of 1,688,307 shares, compared to its average volume of 1,483,097. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The firm has a market cap of $14.40 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 1.65 and a beta of 1.12. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $174.80. The company has a fifty day moving average of $146.05 and a 200 day moving average of $141.18.
Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.11. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same period in the prior year, the business posted $1.68 earnings per share. The company's revenue for the quarter was down .6% on a year-over-year basis. On average, analysts anticipate that Jabil Inc. will post 8.05 earnings per share for the current fiscal year.
Jabil Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a dividend of $0.08 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. Jabil's payout ratio is 7.66%.
Jabil Company Profile
(
Free Report)
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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