Wellington Management Group LLP Raises Stock Position in Jabil Inc. (NYSE:JBL)

Wellington Management Group LLP raised its stake in shares of Jabil Inc. (NYSE:JBL - Free Report) by 70,781.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,808,730 shares of the technology company's stock after purchasing an additional 5,800,535 shares during the quarter. Wellington Management Group LLP owned about 5.32% of Jabil worth $835,876,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Jabil during the fourth quarter worth about $27,000. Murphy & Mullick Capital Management Corp acquired a new stake in Jabil during the 4th quarter valued at approximately $29,000. Millstone Evans Group LLC purchased a new stake in shares of Jabil in the 4th quarter valued at $37,000. First Horizon Advisors Inc. increased its stake in shares of Jabil by 90.3% in the fourth quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company's stock worth $39,000 after acquiring an additional 130 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of Jabil by 113.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 297 shares of the technology company's stock worth $43,000 after acquiring an additional 158 shares during the period. Hedge funds and other institutional investors own 93.39% of the company's stock.

Jabil Price Performance

Shares of NYSE:JBL traded down $6.36 during midday trading on Friday, reaching $117.13. 3,385,071 shares of the company's stock traded hands, compared to its average volume of 1,454,752. The company has a fifty day simple moving average of $150.60 and a two-hundred day simple moving average of $140.47. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $174.80. The company has a market cap of $12.79 billion, a P/E ratio of 11.23, a PEG ratio of 1.65 and a beta of 1.12. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06.

Jabil (NYSE:JBL - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.11. The business had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.40 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company's revenue was down .6% compared to the same quarter last year. During the same period last year, the firm posted $1.68 earnings per share. Equities analysts predict that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a $0.08 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. Jabil's dividend payout ratio (DPR) is presently 7.66%.

Analysts Set New Price Targets

Several equities research analysts have commented on JBL shares. The Goldman Sachs Group upped their price target on shares of Jabil from $160.00 to $179.00 and gave the company a "buy" rating in a report on Monday, February 24th. JPMorgan Chase & Co. raised their target price on Jabil from $172.00 to $175.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. UBS Group upped their price objective on Jabil from $152.00 to $157.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Barclays lifted their target price on shares of Jabil from $179.00 to $184.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Finally, StockNews.com raised shares of Jabil from a "hold" rating to a "buy" 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 company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $167.50.

Insider Transactions at Jabil

In related news, Director Christopher S. Holland sold 3,400 shares of the business's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $162.27, for a total transaction of $551,718.00. Following the transaction, the director now directly owns 12,900 shares in the company, valued at approximately $2,093,283. The trade was a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $151.30, for a total transaction of $3,026,000.00. Following the completion of the sale, the director now owns 119,108 shares of the company's stock, valued at approximately $18,021,040.40. The trade was a 14.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,400 shares of company stock valued at $12,205,218 over the last ninety days. Insiders own 1.73% of the company's stock.

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).