Jabil Inc. (NYSE:JBL) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its position in shares of Jabil Inc. (NYSE:JBL - Free Report) by 33.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 170,724 shares of the technology company's stock after purchasing an additional 42,874 shares during the period. Russell Investments Group Ltd. owned about 0.16% of Jabil worth $24,567,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Meyer Handelman Co. purchased a new stake in Jabil in the fourth quarter worth about $7,334,000. Davis Investment Partners LLC bought a new stake in shares of Jabil in the 4th quarter valued at about $1,433,000. Truist Financial Corp lifted its position in shares of Jabil by 50.4% in the 4th quarter. Truist Financial Corp now owns 12,037 shares of the technology company's stock worth $1,732,000 after purchasing an additional 4,034 shares during the period. Merit Financial Group LLC bought a new position in shares of Jabil during the fourth quarter valued at approximately $235,000. Finally, Keybank National Association OH purchased a new position in Jabil during the fourth quarter valued at approximately $214,000. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Jabil Stock Up 2.7 %

Shares of JBL traded up $3.61 during mid-day trading on Monday, hitting $135.55. 286,337 shares of the company traded hands, compared to its average volume of 1,478,422. The company has a market capitalization of $14.55 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 1.65 and a beta of 1.12. 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 business has a 50 day moving average of $146.05 and a 200 day moving average of $141.18. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $174.80.

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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 (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $6.40 billion. During the same quarter in the prior year, the business posted $1.68 EPS. Jabil's revenue for the quarter was down .6% compared to the same quarter last year. Equities research analysts anticipate that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a $0.08 dividend. 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 dividend payout ratio is presently 7.66%.

Insider Transactions at Jabil

In related news, 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 transaction of $551,718.00. Following the completion of the transaction, the director now 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John C. Plant sold 50,000 shares of the company's stock in a transaction on 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 completion of the sale, the director now directly owns 5,900 shares in the company, valued at approximately $1,018,045. The trade was a 89.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.73% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on JBL. JPMorgan Chase & Co. increased their target price on Jabil from $172.00 to $175.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. 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. Barclays lifted their target price on Jabil from $179.00 to $184.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. StockNews.com raised shares of Jabil from a "hold" rating to a "buy" rating in a research report on Friday, March 21st. Finally, The Goldman Sachs Group reduced their price objective on shares of Jabil from $175.00 to $146.00 and set a "buy" rating for the company in a research note on Thursday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $162.00.

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).