Resona Asset Management Co. Ltd. Invests $4.71 Million in Jabil Inc. (NYSE:JBL)

Resona Asset Management Co. Ltd. purchased a new stake in Jabil Inc. (NYSE:JBL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 32,667 shares of the technology company's stock, valued at approximately $4,710,000.

Several other institutional investors have also recently made changes to their positions in JBL. Jacobs Levy Equity Management Inc. purchased a new position in Jabil in the 3rd quarter worth approximately $407,000. Integrated Wealth Concepts LLC purchased a new position in Jabil in the third quarter worth $223,000. EP Wealth Advisors LLC bought a new position in Jabil in the third quarter valued at $1,390,000. iA Global Asset Management Inc. raised its position in Jabil by 29.3% during the third quarter. iA Global Asset Management Inc. now owns 2,879 shares of the technology company's stock valued at $345,000 after purchasing an additional 652 shares in the last quarter. Finally, National Bank of Canada FI boosted its holdings in shares of Jabil by 15.1% in the 3rd quarter. National Bank of Canada FI now owns 57,957 shares of the technology company's stock worth $6,945,000 after purchasing an additional 7,621 shares in the last quarter. Hedge funds and other institutional investors own 93.39% of the company's stock.

Jabil Stock Up 2.9 %

Jabil stock traded up $3.82 during mid-day trading on Monday, reaching $135.76. The stock had a trading volume of 236,537 shares, compared to its average volume of 1,478,232. 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 company has a market capitalization of $14.57 billion, a price-to-earnings ratio of 13.02, a PEG 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. The company has a 50-day moving average price of $146.05 and a two-hundred day moving average price of $141.18.

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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, topping analysts' consensus estimates of $1.83 by $0.11. The company had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.40 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The firm's revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the business earned $1.68 EPS. On average, analysts expect that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil's payout ratio is presently 7.66%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Stifel Nicolaus restated a "buy" rating and set a $160.00 price target (up from $150.00) on shares of Jabil in a research report on Thursday, December 19th. JPMorgan Chase & Co. increased their target price on shares of Jabil from $172.00 to $175.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. StockNews.com raised shares of Jabil from a "hold" rating to a "buy" rating in a research note on Friday, March 21st. The Goldman Sachs Group decreased their target price on Jabil from $175.00 to $146.00 and set a "buy" rating for the company in a research report on Thursday. Finally, UBS Group increased their price objective on Jabil from $152.00 to $157.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $162.00.

Insider Activity

In other Jabil news, 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 transaction of $551,718.00. Following the sale, the director now directly owns 12,900 shares of the company's stock, valued at $2,093,283. This trade represents a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 dated Friday, January 24th. The shares were sold at an average price of $172.55, for a total transaction of $8,627,500.00. Following the transaction, the director now directly owns 5,900 shares of the company's stock, valued at $1,018,045. This trade represents a 89.45 % decrease in their position. The disclosure for this sale can be found here. 1.73% of the stock is owned by corporate insiders.

Jabil Company 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).