Voloridge Investment Management LLC bought a new stake in shares of Jabil Inc. (NYSE:JBL) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 38,630 shares of the technology company’s stock, valued at approximately $1,643,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of JBL. Zurich Insurance Group Ltd FI bought a new stake in shares of Jabil during the 4th quarter worth $1,204,000. SummerHaven Investment Management LLC acquired a new position in shares of Jabil in the 4th quarter valued at $570,000. Zacks Investment Management acquired a new position in shares of Jabil in the 4th quarter worth approximately $2,064,000. Alyeska Investment Group L.P. boosted its stake in shares of Jabil by 11.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,830,432 shares of the technology company’s stock valued at $77,848,000 after purchasing an additional 189,245 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of Jabil by 12.4% during the fourth quarter. Morgan Stanley now owns 506,488 shares of the technology company’s stock worth $21,541,000 after buying an additional 55,694 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.
NYSE JBL opened at $53.18 on Thursday. Jabil Inc. has a one year low of $23.05 and a one year high of $54.25. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 1.02. The firm has a market capitalization of $7.99 billion, a price-to-earnings ratio of 38.26, a PEG ratio of 0.97 and a beta of 1.32. The company’s 50 day moving average price is $47.66 and its 200 day moving average price is $41.56.
Jabil (NYSE:JBL) last posted its earnings results on Monday, March 15th. The technology company reported $1.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.32. Jabil had a return on equity of 14.01% and a net margin of 0.78%. The firm had revenue of $6.83 billion during the quarter, compared to analyst estimates of $6.39 billion. During the same period in the previous year, the company earned $0.50 EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. Sell-side analysts forecast that Jabil Inc. will post 3.82 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 2nd. Investors of record on Monday, February 15th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 12th. This represents a $0.32 annualized dividend and a yield of 0.60%. Jabil’s payout ratio is currently 91.43%.
A number of research analysts recently issued reports on JBL shares. Stifel Nicolaus boosted their price objective on shares of Jabil from $51.00 to $55.00 and gave the company a “hold” rating in a report on Tuesday, March 16th. Smith Barney Citigroup lifted their price objective on shares of Jabil from $50.00 to $60.00 in a research note on Friday, December 18th. Argus boosted their target price on shares of Jabil from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, March 17th. Royal Bank of Canada upped their price target on shares of Jabil from $38.00 to $44.00 and gave the company a “sector perform” rating in a research report on Friday, December 18th. Finally, Citigroup lifted their price objective on shares of Jabil from $60.00 to $70.00 in a report on Wednesday, March 17th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $52.80.
In other news, CEO Kenneth S. Wilson sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 21st. The stock was sold at an average price of $45.58, for a total transaction of $455,800.00. Following the transaction, the chief executive officer now directly owns 256,968 shares of the company’s stock, valued at $11,712,601.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Loparco sold 6,000 shares of the firm’s stock in a transaction dated Thursday, January 14th. The stock was sold at an average price of $46.00, for a total value of $276,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,223 shares of company stock worth $5,988,584. Corporate insiders own 2.81% of the company’s stock.
Jabil Inc provides manufacturing services and solutions worldwide. The company operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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).
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