Norges Bank Invests $218.43 Million in Jabil Inc. (NYSE:JBL)

Norges Bank acquired a new stake in shares of Jabil Inc. (NYSE:JBL) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,517,932 shares of the technology company’s stock, valued at approximately $218,430,000.

A number of other institutional investors and hedge funds have also bought and sold shares of JBL. NEOS Investment Management LLC grew its holdings in shares of Jabil by 27.4% during the fourth quarter. NEOS Investment Management LLC now owns 5,764 shares of the technology company’s stock valued at $829,000 after buying an additional 1,241 shares during the last quarter. UniSuper Management Pty Ltd lifted its position in Jabil by 1.4% in the 4th quarter. UniSuper Management Pty Ltd now owns 30,716 shares of the technology company’s stock valued at $4,420,000 after acquiring an additional 433 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Jabil by 18.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company’s stock valued at $270,187,000 after purchasing an additional 288,806 shares during the last quarter. Elo Mutual Pension Insurance Co increased its holdings in shares of Jabil by 10.9% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 11,179 shares of the technology company’s stock worth $1,609,000 after purchasing an additional 1,102 shares in the last quarter. Finally, WINTON GROUP Ltd raised its stake in shares of Jabil by 352.4% in the fourth quarter. WINTON GROUP Ltd now owns 42,544 shares of the technology company’s stock worth $6,122,000 after purchasing an additional 33,140 shares during the last quarter. 93.39% of the stock is currently owned by institutional investors.

Jabil Trading Down 2.5 %

Shares of JBL stock opened at $135.97 on Monday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72. The company has a market cap of $14.84 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 1.65 and a beta of 1.19. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $174.80. The firm has a fifty day moving average price of $154.45 and a 200-day moving average price of $139.84.

Jabil (NYSE:JBL) last released its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.11. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same quarter in the previous year, the company posted $1.68 earnings per share. Jabil’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities analysts predict that Jabil Inc. will post 8.05 earnings per share 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 paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil’s payout ratio is 7.66%.

Insider Buying and Selling at Jabil

In related news, EVP Frederic E. Mccoy sold 4,000 shares of Jabil stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $149.81, for a total transaction of $599,240.00. Following the transaction, the executive vice president now owns 138,472 shares in the company, valued at approximately $20,744,490.32. The trade was a 2.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John C. Plant sold 50,000 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $172.55, for a total transaction of $8,627,500.00. Following the transaction, the director now directly owns 5,900 shares of the company’s stock, valued at $1,018,045. The trade was a 89.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,400 shares of company stock valued at $12,804,458 over the last 90 days. 1.73% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on JBL shares. Barclays increased their price objective on Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. The Goldman Sachs Group lifted their price target on shares of Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. JPMorgan Chase & Co. increased their price objective on shares of Jabil from $172.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. StockNews.com raised shares of Jabil from a “hold” rating to a “buy” rating in a research report on Friday, March 21st. Finally, UBS Group increased their price target on Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a report on Friday, March 21st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $167.50.

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).