Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of Jabil Inc (NYSE:JBL) by 130.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 476,553 shares of the technology company’s stock after acquiring an additional 269,920 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned 0.31% of Jabil worth $12,672,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Jabil in the fourth quarter worth $46,681,000. Millennium Management LLC boosted its position in shares of Jabil by 529.6% in the fourth quarter. Millennium Management LLC now owns 1,858,462 shares of the technology company’s stock worth $46,071,000 after buying an additional 1,563,273 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Jabil by 2,076.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,511,446 shares of the technology company’s stock worth $61,000 after buying an additional 1,441,988 shares during the period. Pzena Investment Management LLC boosted its position in shares of Jabil by 158.9% in the fourth quarter. Pzena Investment Management LLC now owns 1,845,653 shares of the technology company’s stock worth $45,754,000 after buying an additional 1,132,895 shares during the period. Finally, LSV Asset Management boosted its position in shares of Jabil by 12.2% in the fourth quarter. LSV Asset Management now owns 6,166,202 shares of the technology company’s stock worth $152,860,000 after buying an additional 670,383 shares during the period. 91.88% of the stock is owned by institutional investors and hedge funds.
In other Jabil news, CEO Alessandro Parimbelli sold 3,500 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $29.70, for a total transaction of $103,950.00. Following the transaction, the chief executive officer now directly owns 320,792 shares in the company, valued at $9,527,522.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Martha Brooks sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $30.22, for a total value of $302,200.00. Following the transaction, the director now owns 92,400 shares in the company, valued at $2,792,328. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,888 shares of company stock valued at $1,607,030. 2.90% of the stock is owned by corporate insiders.
Shares of NYSE:JBL traded down $0.72 during midday trading on Wednesday, hitting $26.96. 780,047 shares of the stock were exchanged, compared to its average volume of 1,361,949. The company has a current ratio of 1.02, a quick ratio of 0.60 and a debt-to-equity ratio of 1.34. Jabil Inc has a 52-week low of $21.49 and a 52-week high of $31.50. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of 12.42, a P/E/G ratio of 1.00 and a beta of 0.65.
Jabil (NYSE:JBL) last announced its quarterly earnings data on Thursday, March 14th. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.06). Jabil had a return on equity of 18.89% and a net margin of 0.74%. The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $6.12 billion. During the same quarter in the prior year, the business posted $0.66 earnings per share. Jabil’s revenue was up 13.3% on a year-over-year basis. On average, sell-side analysts forecast that Jabil Inc will post 2.3 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.32 annualized dividend and a dividend yield of 1.19%. Jabil’s dividend payout ratio is 14.75%.
JBL has been the subject of several recent analyst reports. TheStreet raised Jabil from a “c+” rating to a “b” rating in a research report on Monday, February 25th. Zacks Investment Research raised Jabil from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Finally, Raymond James raised Jabil from a “market perform” rating to a “strong-buy” rating and set a $34.00 target price for the company in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $29.17.
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Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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).
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