Jabil Inc. (NYSE:JBL) Stake Lifted by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of Jabil Inc. (NYSE:JBL) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,810,519 shares of the technology company’s stock after purchasing an additional 34,574 shares during the period. Geode Capital Management LLC owned 2.57% of Jabil worth $404,024,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of JBL. Bleakley Financial Group LLC boosted its stake in Jabil by 2.2% during the fourth quarter. Bleakley Financial Group LLC now owns 3,273 shares of the technology company’s stock valued at $471,000 after buying an additional 70 shares in the last quarter. Greenleaf Trust boosted its position in shares of Jabil by 1.3% during the 4th quarter. Greenleaf Trust now owns 5,671 shares of the technology company’s stock valued at $816,000 after purchasing an additional 72 shares in the last quarter. Resonant Capital Advisors LLC boosted its position in shares of Jabil by 3.3% during the 4th quarter. Resonant Capital Advisors LLC now owns 2,539 shares of the technology company’s stock valued at $365,000 after purchasing an additional 80 shares in the last quarter. Lifestyle Asset Management Inc. raised its holdings in shares of Jabil by 1.0% in the 4th quarter. Lifestyle Asset Management Inc. now owns 9,618 shares of the technology company’s stock worth $1,384,000 after purchasing an additional 95 shares in the last quarter. Finally, Savant Capital LLC raised its holdings in shares of Jabil by 1.9% in the 4th quarter. Savant Capital LLC now owns 5,332 shares of the technology company’s stock worth $767,000 after purchasing an additional 99 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JBL has been the topic of several recent research reports. StockNews.com upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research report on Friday, March 21st. Stifel Nicolaus restated a “buy” rating and issued a $160.00 target price (up from $150.00) on shares of Jabil in a report on Thursday, December 19th. The Goldman Sachs Group boosted their target price on Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Barclays increased their price target on Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Finally, JPMorgan Chase & Co. boosted their price objective on Jabil from $172.00 to $175.00 and gave the stock an “overweight” 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.50.

Jabil Price Performance

Shares of JBL opened at $117.13 on Friday. 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 company has a market capitalization of $12.79 billion, a price-to-earnings ratio of 11.23, a P/E/G ratio of 1.65 and a beta of 1.12. The business’s 50-day moving average is $150.60 and its 200-day moving average is $140.24. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $174.80.

Jabil (NYSE:JBL) last issued its earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same quarter last year, the business posted $1.68 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts expect that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil’s dividend payout ratio is presently 7.66%.

Insider Buying and Selling at Jabil

In other Jabil news, Director John C. Plant sold 50,000 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $172.55, for a total transaction of $8,627,500.00. Following the completion of the sale, the director now directly owns 5,900 shares in the company, valued at $1,018,045. This represents a 89.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher S. Holland sold 3,400 shares of Jabil stock in a transaction dated Friday, January 31st. The stock was 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 in the company, 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 have sold a total of 73,400 shares of company stock worth $12,205,218 over the last three months. Corporate insiders own 1.73% of the company’s stock.

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).