Highland Capital Management LLC Acquires Shares of 1,991 Jabil Inc. (NYSE:JBL)

Highland Capital Management LLC acquired a new stake in Jabil Inc. (NYSE:JBL) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 1,991 shares of the technology company’s stock, valued at approximately $239,000.

Several other large investors also recently modified their holdings of JBL. Point72 Asset Management L.P. purchased a new stake in shares of Jabil during the 2nd quarter worth approximately $78,660,000. AQR Capital Management LLC increased its stake in shares of Jabil by 195.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock worth $115,404,000 after purchasing an additional 702,199 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Jabil by 29.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock worth $150,463,000 after purchasing an additional 310,590 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Jabil during the 1st quarter worth approximately $39,040,000. Finally, Victory Capital Management Inc. increased its stake in shares of Jabil by 72.0% during the 2nd quarter. Victory Capital Management Inc. now owns 490,499 shares of the technology company’s stock worth $53,361,000 after purchasing an additional 205,331 shares during the last quarter. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Bank of America raised their price target on shares of Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Barclays lifted their price objective on shares of Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Stifel Nicolaus lifted their price objective on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.50.

Insider Transactions at Jabil

In other news, EVP Frederic E. Mccoy sold 4,000 shares of Jabil stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total transaction of $474,800.00. Following the completion of the sale, the executive vice president now directly owns 108,753 shares of the company’s stock, valued at approximately $12,908,981.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Matthew Crowley sold 2,271 shares of Jabil stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $123.54, for a total transaction of $280,559.34. Following the completion of the sale, the executive vice president now directly owns 15,564 shares of the company’s stock, valued at approximately $1,922,776.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Frederic E. Mccoy sold 4,000 shares of Jabil stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $118.70, for a total transaction of $474,800.00. Following the completion of the transaction, the executive vice president now owns 108,753 shares in the company, valued at approximately $12,908,981.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,651 shares of company stock valued at $929,005. Insiders own 2.62% of the company’s stock.

Jabil Stock Down 0.2 %

Shares of NYSE:JBL opened at $124.72 on Monday. The firm has a fifty day moving average price of $114.27 and a two-hundred day moving average price of $114.79. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72. Jabil Inc. has a one year low of $95.85 and a one year high of $156.94. The company has a market cap of $14.15 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 1.46 and a beta of 1.25.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.22 by $0.08. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.59 billion. During the same period last year, the firm earned $2.34 EPS. The business’s quarterly revenue was down 17.7% compared to the same quarter last year. Analysts anticipate that Jabil Inc. will post 7.84 EPS for the current fiscal year.

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend is Friday, November 15th. Jabil’s payout ratio is 2.90%.

About Jabil

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).