Te Ahumairangi Investment Management Ltd Grows Stake in Jabil Inc. (NYSE:JBL)

Te Ahumairangi Investment Management Ltd lifted its holdings in shares of Jabil Inc. (NYSE:JBL - Free Report) by 365.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,767 shares of the technology company's stock after acquiring an additional 16,307 shares during the quarter. Te Ahumairangi Investment Management Ltd's holdings in Jabil were worth $2,474,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HHM Wealth Advisors LLC purchased a new position in shares of Jabil during the 2nd quarter valued at $28,000. Innealta Capital LLC purchased a new stake in Jabil during the second quarter valued at about $31,000. Capital Performance Advisors LLP purchased a new position in shares of Jabil in the third quarter worth about $32,000. Family Firm Inc. bought a new stake in shares of Jabil in the second quarter valued at approximately $37,000. Finally, Brooklyn Investment Group bought a new stake in shares of Jabil in the third quarter valued at approximately $39,000. 93.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Jabil

In other Jabil news, SVP Francis Mckay sold 11,755 shares of the business's stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the transaction, the senior vice president now directly owns 41,507 shares of the company's stock, valued at approximately $5,051,816.97. The trade was a 22.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of the firm's stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $124.70, for a total transaction of $2,494,000.00. Following the completion of the sale, the director now owns 139,108 shares of the company's stock, valued at $17,346,767.60. This trade represents a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,689 shares of company stock worth $5,377,431. 2.62% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

JBL has been the topic of a number of analyst reports. StockNews.com raised shares of Jabil from a "buy" rating to a "strong-buy" rating in a report on Wednesday, November 27th. Bank of America increased their price objective on Jabil from $135.00 to $150.00 and gave the stock a "buy" rating in a report on Friday, September 27th. JPMorgan Chase & Co. reduced their target price on Jabil from $137.00 to $133.00 and set an "overweight" rating for the company in a report on Tuesday, September 3rd. Barclays raised their price objective on shares of Jabil from $135.00 to $157.00 and gave the company an "overweight" rating in a research report on Friday, September 27th. Finally, Stifel Nicolaus upped their target price on shares of Jabil from $140.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $145.17.

Jabil Price Performance

JBL traded down $0.05 during trading on Thursday, reaching $133.64. The stock had a trading volume of 905,230 shares, compared to its average volume of 1,416,447. The business has a 50-day moving average of $128.97 and a 200-day moving average of $117.35. Jabil Inc. has a one year low of $95.85 and a one year high of $156.94. 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 stock has a market cap of $15.08 billion, a PE ratio of 12.13, a PEG ratio of 1.59 and a beta of 1.25.

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. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The company had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $6.59 billion. During the same quarter last year, the company earned $2.34 EPS. The firm's revenue was down 17.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Jabil Inc. will post 7.89 EPS for the current fiscal year.

Jabil Dividend Announcement

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

About Jabil

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).