Fifth Third Bancorp Grows Stake in Jabil Inc. (NYSE:JBL)

Fifth Third Bancorp boosted its stake in Jabil Inc. (NYSE:JBL) by 10.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,034 shares of the technology company’s stock after buying an additional 397 shares during the quarter. Fifth Third Bancorp’s holdings in Jabil were worth $580,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp raised its holdings in shares of Jabil by 6.0% during the third quarter. Van ECK Associates Corp now owns 1,589 shares of the technology company’s stock valued at $195,000 after acquiring an additional 90 shares during the last quarter. Verdence Capital Advisors LLC increased its position in shares of Jabil by 2.9% during the third quarter. Verdence Capital Advisors LLC now owns 3,234 shares of the technology company’s stock worth $387,000 after purchasing an additional 91 shares in the last quarter. Lifestyle Asset Management Inc. raised its stake in Jabil by 1.0% in the 4th quarter. Lifestyle Asset Management Inc. now owns 9,618 shares of the technology company’s stock valued at $1,384,000 after purchasing an additional 95 shares during the last quarter. Gateway Investment Advisers LLC lifted its holdings in Jabil by 3.5% in the 3rd quarter. Gateway Investment Advisers LLC now owns 3,139 shares of the technology company’s stock valued at $376,000 after purchasing an additional 105 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in Jabil by 30.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 466 shares of the technology company’s stock worth $67,000 after purchasing an additional 109 shares during the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Jabil

In other Jabil news, EVP Frederic E. Mccoy sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $149.81, for a total value of $599,240.00. Following the completion of the transaction, the executive vice president now owns 138,472 shares of the company’s stock, valued at $20,744,490.32. This trade represents a 2.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John C. Plant sold 50,000 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $172.55, for a total transaction of $8,627,500.00. Following the completion of the transaction, the director now owns 5,900 shares of the company’s stock, valued at approximately $1,018,045. This trade represents a 89.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,000 shares of company stock worth $12,252,740 in the last three months. 1.73% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

JBL has been the topic of several research reports. Stifel Nicolaus reissued a “buy” rating and issued a $160.00 price target (up from $150.00) on shares of Jabil in a research note on Thursday, December 19th. StockNews.com lowered shares of Jabil from a “buy” rating to a “hold” rating in a research note on Wednesday. Barclays upped their price target on Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. UBS Group lifted their price objective on Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group upped their target price on Jabil from $136.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $153.17.

Jabil Trading Up 1.0 %

Shares of Jabil stock opened at $162.54 on Friday. The stock has a 50 day moving average of $147.07 and a 200 day moving average of $126.54. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. The firm has a market capitalization of $17.75 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.68 and a beta of 1.23. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $174.80.

Jabil (NYSE:JBL) last released its quarterly earnings results on Wednesday, December 18th. The technology company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.12. The business had revenue of $6.99 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The company’s 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. As a group, research analysts predict that Jabil Inc. will post 8.03 earnings per share for the current year.

Jabil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.20%. The ex-dividend date is Tuesday, February 18th. Jabil’s payout ratio is 3.07%.

Jabil 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).