Police & Firemen s Retirement System of New Jersey increased its holdings in Jabil, Inc. (NYSE:JBL – Free Report) by 3.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 40,156 shares of the technology company’s stock after buying an additional 1,469 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Jabil were worth $8,758,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. GFG Capital LLC bought a new stake in shares of Jabil in the 2nd quarter valued at approximately $26,000. Assetmark Inc. boosted its stake in Jabil by 45.8% in the 2nd quarter. Assetmark Inc. now owns 156 shares of the technology company’s stock valued at $34,000 after buying an additional 49 shares in the last quarter. Westside Investment Management Inc. grew its position in Jabil by 757.1% in the second quarter. Westside Investment Management Inc. now owns 180 shares of the technology company’s stock valued at $39,000 after acquiring an additional 159 shares during the period. Hantz Financial Services Inc. raised its stake in Jabil by 45.4% during the second quarter. Hantz Financial Services Inc. now owns 189 shares of the technology company’s stock worth $41,000 after acquiring an additional 59 shares in the last quarter. Finally, Groupe la Francaise lifted its holdings in shares of Jabil by 35.2% during the first quarter. Groupe la Francaise now owns 246 shares of the technology company’s stock valued at $34,000 after acquiring an additional 64 shares during the period. 93.39% of the stock is owned by institutional investors and hedge funds.
Jabil Price Performance
JBL opened at $201.85 on Friday. Jabil, Inc. has a one year low of $108.66 and a one year high of $237.14. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.00 and a quick ratio of 0.66. The company’s 50 day simple moving average is $212.40 and its 200-day simple moving average is $202.06. The stock has a market capitalization of $21.57 billion, a P/E ratio of 33.87, a price-to-earnings-growth ratio of 1.58 and a beta of 1.26.
Jabil Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Monday, November 17th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, November 17th. Jabil’s dividend payout ratio is 5.37%.
Analysts Set New Price Targets
Several research firms have recently weighed in on JBL. Bank of America upped their target price on shares of Jabil from $245.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Barclays upped their price objective on shares of Jabil from $223.00 to $267.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. JPMorgan Chase & Co. raised their price objective on shares of Jabil from $214.00 to $256.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Jabil in a report on Tuesday, October 14th. Finally, Wall Street Zen raised Jabil from a “buy” rating to a “strong-buy” rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $248.43.
Read Our Latest Stock Analysis on JBL
Insider Buying and Selling at Jabil
In related news, SVP May Yee Yap sold 8,858 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $225.03, for a total value of $1,993,315.74. Following the transaction, the senior vice president owned 25,421 shares in the company, valued at $5,720,487.63. This trade represents a 25.84% 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, Chairman Mark T. Mondello sold 40,000 shares of the business’s stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $207.77, for a total value of $8,310,800.00. Following the sale, the chairman directly owned 1,258,942 shares of the company’s stock, valued at $261,570,379.34. This represents a 3.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 131,762 shares of company stock valued at $27,886,321 over the last ninety days. Company 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).
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