Wellington Management Group LLP Boosts Position in Jabil Inc. (NYSE:JBL)

Wellington Management Group LLP lifted its position in Jabil Inc. (NYSE:JBL) by 70,781.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,808,730 shares of the technology company’s stock after purchasing an additional 5,800,535 shares during the period. Wellington Management Group LLP owned about 0.05% of Jabil worth $835,876,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of JBL. Norges Bank bought a new stake in Jabil during the 4th quarter worth approximately $218,430,000. Two Sigma Advisers LP increased its holdings in shares of Jabil by 406.5% in the third quarter. Two Sigma Advisers LP now owns 722,800 shares of the technology company’s stock worth $86,613,000 after purchasing an additional 580,100 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Jabil in the fourth quarter worth $43,312,000. Caisse DE Depot ET Placement DU Quebec boosted its stake in Jabil by 595.5% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 343,137 shares of the technology company’s stock valued at $41,118,000 after buying an additional 293,801 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Jabil by 18.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company’s stock worth $270,187,000 after buying an additional 288,806 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on JBL shares. Barclays raised their price target on Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a report on Friday, March 21st. The Goldman Sachs Group boosted 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. UBS Group raised their price objective on shares of Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Stifel Nicolaus reiterated a “buy” rating and issued a $160.00 target price (up from $150.00) on shares of Jabil in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. raised 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. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $167.50.

Insider Activity

In other Jabil news, Director Steven A. Raymund sold 20,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 119,108 shares in the company, valued at approximately $18,021,040.40. This trade represents a 14.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John C. Plant sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $172.55, for a total value of $8,627,500.00. Following the transaction, the director now directly owns 5,900 shares in the company, valued at $1,018,045. This trade represents a 89.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,400 shares of company stock valued at $12,804,458. 1.73% of the stock is currently owned by company insiders.

Jabil Price Performance

JBL stock opened at $136.22 on Tuesday. The firm has a market cap of $14.87 billion, a P/E ratio of 13.06, a P/E/G ratio of 1.65 and a beta of 1.19. The firm’s fifty day moving average is $153.92 and its 200 day moving average is $140.07. Jabil Inc. has a 52 week low of $95.85 and a 52 week high of $174.80. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06.

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

Jabil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.32 annualized dividend and a yield of 0.23%. Jabil’s payout ratio is currently 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).