Point72 Asset Management L.P. Buys New Stake in Jabil Inc. (NYSE:JBL)

Point72 Asset Management L.P. purchased a new position in shares of Jabil Inc. (NYSE:JBL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 723,048 shares of the technology company’s stock, valued at approximately $78,660,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Jabil by 10.5% during the 4th quarter. Vanguard Group Inc. now owns 15,070,238 shares of the technology company’s stock worth $1,919,948,000 after acquiring an additional 1,427,429 shares in the last quarter. Primecap Management Co. CA lifted its position in shares of Jabil by 3.0% during the second quarter. Primecap Management Co. CA now owns 3,682,875 shares of the technology company’s stock worth $400,660,000 after purchasing an additional 107,800 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Jabil by 7.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,636,737 shares of the technology company’s stock valued at $178,058,000 after purchasing an additional 106,808 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Jabil by 29.0% in the second quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock valued at $150,463,000 after purchasing an additional 310,590 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its stake in Jabil by 36.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,339,559 shares of the technology company’s stock worth $170,660,000 after buying an additional 359,818 shares during the period. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Jabil Trading Down 0.2 %

NYSE:JBL opened at $112.86 on Wednesday. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94. The stock has a market cap of $12.80 billion, a P/E ratio of 10.27, a P/E/G ratio of 2.23 and a beta of 1.25. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 1.13. The stock has a 50-day simple moving average of $106.93 and a 200-day simple moving average of $116.86.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th were paid a $0.08 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.32 annualized dividend and a yield of 0.28%. Jabil’s dividend payout ratio is currently 2.91%.

Analyst Upgrades and Downgrades

Several brokerages have commented on JBL. UBS Group decreased their price target on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, June 21st. Bank of America decreased their target price on Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a report on Friday, June 21st. Stifel Nicolaus cut their price target on Jabil from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Barclays reduced their price target on Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Finally, JPMorgan Chase & Co. cut their target price on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.88.

Insiders Place Their Bets

In related news, SVP May Yee Yap sold 4,274 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total value of $500,228.96. Following the transaction, the senior vice president now directly owns 24,829 shares of the company’s stock, valued at approximately $2,905,986.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Frederic E. Mccoy sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $116.42, for a total transaction of $145,525.00. Following the transaction, the executive vice president now directly owns 112,753 shares in the company, valued at $13,126,704.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP May Yee Yap sold 4,274 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total transaction of $500,228.96. Following the sale, the senior vice president now owns 24,829 shares of the company’s stock, valued at approximately $2,905,986.16. The disclosure for this sale can be found here. 2.62% of the stock is owned by corporate insiders.

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).