3,278 Shares in Jabil Inc. (NYSE:JBL) Bought by Allstate Corp

Allstate Corp acquired a new stake in Jabil Inc. (NYSE:JBL) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,278 shares of the technology company’s stock, valued at approximately $472,000.

Several other hedge funds have also recently added to or reduced their stakes in JBL. Meyer Handelman Co. bought a new stake in shares of Jabil in the 4th quarter valued at about $7,334,000. Davis Investment Partners LLC bought a new stake in Jabil in the fourth quarter valued at approximately $1,433,000. Truist Financial Corp raised its holdings in Jabil by 50.4% in the fourth quarter. Truist Financial Corp now owns 12,037 shares of the technology company’s stock worth $1,732,000 after purchasing an additional 4,034 shares during the period. Merit Financial Group LLC bought a new position in shares of Jabil during the fourth quarter worth $235,000. Finally, Keybank National Association OH bought a new stake in shares of Jabil in the 4th quarter valued at $214,000. Institutional investors and hedge funds own 93.39% of the company’s stock.

Insider Activity at Jabil

In other news, Director John C. Plant sold 50,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 5,900 shares of the company’s stock, valued at approximately $1,018,045. This represents a 89.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher S. Holland sold 3,400 shares of Jabil stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $162.27, for a total value of $551,718.00. Following the transaction, the director now owns 12,900 shares of the company’s stock, valued at $2,093,283. The trade was a 20.86 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,400 shares of company stock valued at $12,804,458. 1.73% of the stock is owned by corporate insiders.

Jabil Stock Performance

Shares of JBL opened at $136.20 on Wednesday. The stock has a market capitalization of $14.87 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 1.65 and a beta of 1.19. Jabil Inc. has a 12 month low of $95.85 and a 12 month high of $174.80. The firm has a fifty day simple moving average of $153.29 and a 200 day simple moving average of $140.29. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Thursday, March 20th. The technology company reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.40 billion. During the same period in the prior year, the business posted $1.68 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. Research analysts forecast that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Tuesday, February 18th. Jabil’s payout ratio is presently 7.66%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on JBL. StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a report on Friday, March 21st. Barclays boosted 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 raised their target price on shares of Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a report on Monday, February 24th. Stifel Nicolaus reiterated a “buy” rating and issued a $160.00 price target (up previously from $150.00) on shares of Jabil in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Jabil from $172.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Jabil currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.50.

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).