Fmr LLC Buys 520,672 Shares of Jabil Inc. (NYSE:JBL)

Fmr LLC boosted its stake in Jabil Inc. (NYSE:JBL) by 11.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,116,308 shares of the technology company’s stock after purchasing an additional 520,672 shares during the quarter. Fmr LLC owned about 4.53% of Jabil worth $613,087,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in JBL. Pacer Advisors Inc. increased its holdings in shares of Jabil by 12,251.7% in the third quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock worth $264,391,000 after acquiring an additional 2,188,521 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Jabil in the second quarter worth about $78,660,000. AQR Capital Management LLC increased its holdings in shares of Jabil by 195.8% in the second quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock worth $115,404,000 after acquiring an additional 702,199 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Jabil by 29.0% in the second quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock worth $150,463,000 after acquiring an additional 310,590 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Jabil by 72.0% in the second quarter. Victory Capital Management Inc. now owns 490,499 shares of the technology company’s stock worth $53,361,000 after acquiring an additional 205,331 shares in the last quarter. Institutional investors own 93.39% of the company’s stock.

Insider Activity

In other news, Director Steven A. Raymund sold 20,000 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 139,108 shares in the company, valued at approximately $17,346,767.60. This trade represents a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Matthew Crowley sold 1,380 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $125.83, for a total value of $173,645.40. Following the transaction, the executive vice president now owns 18,568 shares in the company, valued at approximately $2,336,411.44. This trade represents a 6.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,689 shares of company stock valued at $5,377,431 over the last three months. Insiders own 2.62% of the company’s stock.

Jabil Stock Performance

Shares of NYSE JBL opened at $133.33 on Friday. The stock has a 50 day moving average price of $125.42 and a 200 day moving average price of $116.15. Jabil Inc. has a 52 week low of $95.85 and a 52 week 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 capitalization of $15.05 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.58 and a beta of 1.24.

Jabil (NYSE:JBL) last released its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.08. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The company had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.59 billion. During the same period last year, the firm posted $2.34 earnings per share. The business’s revenue was down 17.7% on a year-over-year basis. Analysts predict that Jabil Inc. will post 7.84 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be given a $0.08 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. Jabil’s payout ratio is 2.90%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on JBL. Barclays increased their price target on Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Stifel Nicolaus upped their price objective on Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. reduced their price objective on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Bank of America upped their price objective on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, StockNews.com raised Jabil from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.50.

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).