Zurcher Kantonalbank Zurich Cantonalbank Has $31.64 Million Stake in Jabil Inc. (NYSE:JBL)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Jabil Inc. (NYSE:JBL - Free Report) by 129.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 219,901 shares of the technology company's stock after purchasing an additional 124,241 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.20% of Jabil worth $31,644,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Lifeworks Advisors LLC lifted its holdings in Jabil by 14.3% during the 4th quarter. Lifeworks Advisors LLC now owns 17,835 shares of the technology company's stock valued at $2,566,000 after purchasing an additional 2,238 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Jabil by 0.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 35,945 shares of the technology company's stock valued at $5,172,000 after purchasing an additional 211 shares during the last quarter. Andra AP fonden lifted its holdings in Jabil by 11.2% during the 4th quarter. Andra AP fonden now owns 125,200 shares of the technology company's stock valued at $18,016,000 after purchasing an additional 12,600 shares during the last quarter. Lisanti Capital Growth LLC acquired a new stake in Jabil during the 4th quarter valued at $504,000. Finally, E Fund Management Co. Ltd. acquired a new stake in Jabil during the 4th quarter valued at $334,000. Institutional investors and hedge funds own 93.39% of the company's stock.

Insiders Place Their Bets

In other news, Director Steven A. Raymund sold 20,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $151.30, for a total value of $3,026,000.00. Following the completion of the transaction, the director now directly owns 119,108 shares in the company, valued at approximately $18,021,040.40. This represents a 14.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher S. Holland sold 3,400 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $162.27, for a total value 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. The trade was a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,400 shares of company stock worth $12,804,458 over the last three months. Insiders own 1.73% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. StockNews.com downgraded Jabil from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. UBS Group lifted their price objective on shares of Jabil from $128.00 to $152.00 and gave the stock a "neutral" rating in a research note on Thursday, December 19th. Stifel Nicolaus restated a "buy" rating and set a $160.00 target price (up previously from $150.00) on shares of Jabil in a research report on Thursday, December 19th. Barclays lifted their price target on shares of Jabil from $157.00 to $179.00 and gave the company an "overweight" rating in a research report on Friday, December 20th. Finally, The Goldman Sachs Group increased their price target on Jabil from $160.00 to $179.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Jabil presently has a consensus rating of "Moderate Buy" and a consensus target price of $158.83.

Jabil Price Performance

NYSE:JBL traded down $3.65 during trading hours on Thursday, reaching $130.45. 1,026,084 shares of the company were exchanged, compared to its average volume of 1,305,827. The company has a market capitalization of $14.24 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.65 and a beta of 1.19. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $174.80. 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 business has a 50 day moving average of $157.79 and a 200 day moving average of $136.65.

Jabil (NYSE:JBL - Get Free Report) last released its earnings results on Wednesday, December 18th. The technology company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.12. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The firm had revenue of $6.99 billion during the quarter, compared to analysts' expectations of $6.61 billion. During the same period in the prior year, the company earned $2.60 earnings per share. The company's quarterly revenue was down 16.6% on a year-over-year basis. Research analysts forecast that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil's payout ratio is presently 3.07%.

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).