Geode Capital Management LLC Purchases 34,574 Shares of Jabil Inc. (NYSE:JBL)

Geode Capital Management LLC raised its position in Jabil Inc. (NYSE:JBL) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,810,519 shares of the technology company’s stock after acquiring an additional 34,574 shares during the period. Geode Capital Management LLC’s holdings in Jabil were worth $404,024,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Alliancebernstein L.P. lifted its position in Jabil by 48.6% in the fourth quarter. Alliancebernstein L.P. now owns 218,461 shares of the technology company’s stock worth $31,437,000 after purchasing an additional 71,437 shares during the period. Meeder Asset Management Inc. lifted its holdings in shares of Jabil by 37.3% during the 4th quarter. Meeder Asset Management Inc. now owns 11,859 shares of the technology company’s stock worth $1,707,000 after acquiring an additional 3,224 shares during the period. Wellington Management Group LLP boosted its position in shares of Jabil by 70,781.4% during the 4th quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company’s stock valued at $835,876,000 after acquiring an additional 5,800,535 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in Jabil by 1.5% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 80,214 shares of the technology company’s stock valued at $11,543,000 after acquiring an additional 1,168 shares during the period. Finally, Brandywine Global Investment Management LLC raised its position in Jabil by 38.2% in the fourth quarter. Brandywine Global Investment Management LLC now owns 219,161 shares of the technology company’s stock worth $31,537,000 after purchasing an additional 60,578 shares in the last quarter. Institutional investors and hedge funds own 93.39% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on JBL. Barclays lifted their price objective on Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a report on Friday, March 21st. JPMorgan Chase & Co. upped their price target on Jabil from $172.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Stifel Nicolaus reissued a “buy” rating and set a $160.00 price objective (up from $150.00) on shares of Jabil in a report on Thursday, December 19th. UBS Group upped their target price on shares of Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Finally, The Goldman Sachs Group lifted 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 investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $167.50.

Insider Activity at Jabil

In other news, Director Steven A. Raymund sold 20,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $151.30, for a total value of $3,026,000.00. Following the transaction, the director now owns 119,108 shares of the company’s stock, valued at $18,021,040.40. This represents a 14.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Christopher S. Holland sold 3,400 shares of Jabil stock in a transaction on Friday, January 31st. The stock was sold at an average price of $162.27, for a total value of $551,718.00. Following the sale, the director now directly owns 12,900 shares of the company’s stock, 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. Insiders have sold a total of 73,400 shares of company stock worth $12,205,218 over the last 90 days. Insiders own 1.73% of the company’s stock.

Jabil Stock Down 5.2 %

Shares of NYSE JBL opened at $117.13 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The company has a market cap of $12.79 billion, a price-to-earnings ratio of 11.23, a price-to-earnings-growth ratio of 1.65 and a beta of 1.12. Jabil Inc. has a 12-month low of $95.85 and a 12-month high of $174.80. The firm’s 50-day simple moving average is $150.60 and its 200 day simple moving average is $140.24.

Jabil (NYSE:JBL) last released its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The business had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.40 billion. During the same period in the prior year, the firm earned $1.68 earnings per share. Jabil’s revenue was down .6% compared to the same quarter last year. On average, research analysts expect that Jabil Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil’s dividend payout ratio (DPR) is presently 7.66%.

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).