Jabil Inc. (NYSE:JBL) Shares Bought by Synovus Financial Corp

Synovus Financial Corp grew its position in Jabil Inc. (NYSE:JBL - Free Report) by 92.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 18,056 shares of the technology company's stock after buying an additional 8,693 shares during the period. Synovus Financial Corp's holdings in Jabil were worth $2,164,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp boosted its position in Jabil by 6.0% during the third quarter. Van ECK Associates Corp now owns 1,589 shares of the technology company's stock worth $195,000 after purchasing an additional 90 shares during the period. Verdence Capital Advisors LLC increased its stake in shares of Jabil by 2.9% in the third quarter. Verdence Capital Advisors LLC now owns 3,234 shares of the technology company's stock valued at $387,000 after buying an additional 91 shares during the period. Gateway Investment Advisers LLC raised its stake in Jabil by 3.5% during the third quarter. Gateway Investment Advisers LLC now owns 3,139 shares of the technology company's stock worth $376,000 after buying an additional 105 shares during the last quarter. Richard P Slaughter Associates Inc lifted its stake in Jabil by 0.7% in the third quarter. Richard P Slaughter Associates Inc now owns 17,624 shares of the technology company's stock valued at $2,112,000 after buying an additional 120 shares during the period. Finally, Private Advisor Group LLC grew its holdings in Jabil by 4.9% in the third quarter. Private Advisor Group LLC now owns 2,578 shares of the technology company's stock worth $309,000 after purchasing an additional 120 shares during the period. Institutional investors own 93.39% of the company's stock.

Insider Activity at Jabil

In other Jabil news, EVP Frederic E. Mccoy sold 4,000 shares of the firm's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total transaction of $474,800.00. Following the completion of the transaction, the executive vice president now directly owns 108,753 shares in the company, valued at approximately $12,908,981.10. This trade represents a 3.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Matthew Crowley sold 1,380 shares of the firm's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $125.83, for a total transaction of $173,645.40. Following the transaction, the executive vice president now directly owns 18,568 shares of the company's stock, valued at approximately $2,336,411.44. This trade represents a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,689 shares of company stock worth $5,377,431. Company insiders own 2.62% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on JBL shares. Stifel Nicolaus increased their target price on shares of Jabil from $140.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Bank of America lifted their price target on Jabil from $135.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, September 27th. Barclays lifted their price objective on Jabil from $135.00 to $157.00 and gave the company an "overweight" rating in a research note on Friday, September 27th. JPMorgan Chase & Co. dropped their price objective on shares of Jabil from $137.00 to $133.00 and set an "overweight" rating for the company in a report on Tuesday, September 3rd. Finally, StockNews.com upgraded shares of Jabil from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, November 27th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $145.17.

Jabil Stock Down 0.1 %

JBL stock traded down $0.19 during trading on Monday, reaching $134.94. 1,509,506 shares of the company traded hands, compared to its average volume of 1,414,135. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.72 and a current ratio of 1.09. The company has a market capitalization of $15.23 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 1.57 and a beta of 1.25. Jabil Inc. has a 12 month low of $95.85 and a 12 month high of $156.94. The business has a 50 day simple moving average of $129.76 and a 200 day simple moving average of $117.67.

Jabil (NYSE:JBL - Get Free Report) last issued its earnings results on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, topping analysts' consensus estimates of $2.22 by $0.08. The firm had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.59 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The company's revenue was down 17.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.34 earnings per share. On average, equities research analysts anticipate that Jabil Inc. will post 7.89 earnings per share for the current fiscal year.

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. Jabil's dividend payout ratio is currently 2.90%.

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).