Connor Clark & Lunn Investment Management Ltd. Has $13.27 Million Holdings in Jabil Inc. (NYSE:JBL)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in Jabil Inc. (NYSE:JBL) by 2,750.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,701 shares of the technology company’s stock after buying an additional 106,818 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.10% of Jabil worth $13,265,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. HHM Wealth Advisors LLC acquired a new stake in shares of Jabil during the second quarter worth approximately $28,000. Capital Performance Advisors LLP bought a new position in Jabil in the 3rd quarter valued at $32,000. Innealta Capital LLC acquired a new position in Jabil in the second quarter worth $31,000. Family Firm Inc. bought a new stake in shares of Jabil during the second quarter worth $37,000. Finally, Matrix Trust Co increased its stake in shares of Jabil by 135.4% in the third quarter. Matrix Trust Co now owns 372 shares of the technology company’s stock valued at $45,000 after buying an additional 214 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Jabil Trading Up 1.7 %

Shares of NYSE JBL opened at $130.40 on Friday. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $156.94. The firm has a market capitalization of $14.71 billion, a P/E ratio of 11.83, a P/E/G ratio of 1.50 and a beta of 1.24. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72. The company’s 50 day simple moving average is $123.32 and its 200 day simple moving average is $115.75.

Jabil (NYSE:JBL) last issued its earnings results on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $6.59 billion. During the same quarter in the previous year, the company posted $2.34 EPS. The business’s revenue for the quarter was down 17.7% compared to the same quarter last year. On average, analysts predict that Jabil Inc. will post 7.84 EPS for the current year.

Jabil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, November 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.25%. Jabil’s payout ratio is currently 2.90%.

Insider Activity

In related news, SVP Francis Mckay sold 11,755 shares of the firm’s stock in a transaction 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 sale, the senior vice president now owns 41,507 shares of the company’s stock, valued at approximately $5,051,816.97. This trade represents a 22.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Frederic E. Mccoy sold 4,283 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $122.28, for a total value of $523,725.24. Following the sale, the executive vice president now directly owns 142,472 shares of the company’s stock, valued at approximately $17,421,476.16. The trade was a 2.92 % decrease in their ownership of the stock. 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 in the last ninety days. 2.62% of the stock is owned by insiders.

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).