Meyer Handelman Co. Invests $7.33 Million in Jabil Inc. (NYSE:JBL)

Meyer Handelman Co. bought a new stake in Jabil Inc. (NYSE:JBL) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 50,967 shares of the technology company’s stock, valued at approximately $7,334,000.

A number of other large investors also recently made changes to their positions in JBL. FMR LLC increased its stake in Jabil by 11.3% in the 3rd quarter. FMR LLC now owns 5,116,308 shares of the technology company’s stock valued at $613,087,000 after buying an additional 520,672 shares during the last quarter. Primecap Management Co. CA boosted its stake in Jabil by 0.3% in the third quarter. Primecap Management Co. CA now owns 3,692,560 shares of the technology company’s stock valued at $442,479,000 after acquiring an additional 9,685 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Jabil by 12,251.7% during the 3rd quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock valued at $264,391,000 after acquiring an additional 2,188,521 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Jabil by 7.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,636,737 shares of the technology company’s stock worth $178,058,000 after purchasing an additional 106,808 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Jabil by 195.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock worth $115,404,000 after purchasing an additional 702,199 shares during the period. 93.39% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Jabil news, SVP Francis Mckay sold 11,755 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the completion of the transaction, the senior vice president now owns 41,507 shares of the company’s stock, valued at $5,051,816.97. This represents a 22.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Matthew Crowley sold 1,380 shares of Jabil 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 completion of the sale, the executive vice president now owns 18,568 shares in the company, valued at approximately $2,336,411.44. This represents a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,689 shares of company stock valued at $8,527,871 over the last three months. 1.73% of the stock is owned by company insiders.

Jabil Stock Performance

Jabil stock opened at $155.90 on Wednesday. The firm has a fifty day simple moving average of $138.75 and a two-hundred day simple moving average of $121.92. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $156.94. The company has a market capitalization of $17.41 billion, a PE ratio of 14.15, a P/E/G ratio of 1.58 and a beta of 1.23. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 1.66.

Jabil (NYSE:JBL) last issued its earnings results on Wednesday, December 18th. The technology company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.12. The company had revenue of $6.99 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. Jabil’s quarterly revenue was down 16.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.60 EPS. Research analysts expect that Jabil Inc. will post 7.89 EPS for the current year.

Jabil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.21%. The ex-dividend date was Friday, November 15th. Jabil’s payout ratio is 3.07%.

Analyst Upgrades and Downgrades

JBL has been the subject of several research reports. Stifel Nicolaus reissued a “buy” rating and set a $160.00 price objective (up from $150.00) on shares of Jabil in a report on Thursday, December 19th. UBS Group increased their price objective on Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Barclays raised their price target on shares of Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Bank of America raised their target price on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, StockNews.com downgraded Jabil from a “buy” rating to a “hold” rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.17.

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).