40,000 Shares in Jabil Inc. (NYSE:JBL) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in shares of Jabil Inc. (NYSE:JBL) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 40,000 shares of the technology company’s stock, valued at approximately $5,756,000.

A number of other hedge funds have also made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new stake in shares of Jabil in the 4th quarter valued at about $27,000. Millstone Evans Group LLC acquired a new position in Jabil in the fourth quarter worth $37,000. Brooklyn Investment Group bought a new stake in Jabil during the third quarter valued at $39,000. First Horizon Advisors Inc. raised its holdings in shares of Jabil by 90.3% during the fourth quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company’s stock worth $39,000 after purchasing an additional 130 shares during the period. Finally, GHP Investment Advisors Inc. bought a new stake in shares of Jabil during the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 93.39% of the company’s stock.

Analyst Upgrades and Downgrades

JBL has been the topic of a number of recent research reports. Barclays raised their target price on shares of Jabil from $179.00 to $184.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Stifel Nicolaus reissued a “buy” rating and issued a $160.00 price target (up previously from $150.00) on shares of Jabil in a report on Thursday, December 19th. UBS Group upped their price objective on Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. JPMorgan Chase & Co. raised their target price on Jabil from $172.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Finally, The Goldman Sachs Group boosted their price target on shares of Jabil from $160.00 to $179.00 and gave the company a “buy” rating in a report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Jabil currently has an average rating of “Moderate Buy” and a consensus price target of $167.50.

Insider Buying and Selling at Jabil

In related news, EVP Frederic E. Mccoy sold 4,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $149.81, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Christopher S. Holland sold 3,400 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $162.27, for a total transaction of $551,718.00. Following the completion of the sale, the director now owns 12,900 shares in the company, valued at approximately $2,093,283. This trade represents a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,400 shares of company stock valued at $12,804,458. 1.73% of the stock is owned by corporate insiders.

Jabil Trading Down 1.2 %

Shares of JBL stock opened at $148.20 on Wednesday. The firm has a market capitalization of $16.18 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 1.65 and a beta of 1.19. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $174.80. The stock has a fifty day moving average of $155.73 and a two-hundred day moving average of $139.06.

Jabil (NYSE:JBL) last announced 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 firm had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same quarter in the prior year, the firm posted $1.68 EPS. Jabil’s revenue was down .6% compared to the same quarter last year. As a group, research analysts expect that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a $0.08 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.22%. Jabil’s dividend payout ratio (DPR) is 7.66%.

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).