Royce & Associates LP Acquires 786 Shares of Jabil Inc. (NYSE:JBL)

Royce & Associates LP increased its holdings in shares of Jabil Inc. (NYSE:JBL) by 1.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 74,020 shares of the technology company’s stock after acquiring an additional 786 shares during the period. Royce & Associates LP owned about 0.07% of Jabil worth $8,870,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of JBL. Point72 Asset Management L.P. bought a new stake in shares of Jabil during the 2nd quarter worth approximately $78,660,000. AQR Capital Management LLC lifted its stake in shares of Jabil by 195.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock worth $115,404,000 after acquiring an additional 702,199 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Jabil by 29.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock worth $150,463,000 after purchasing an additional 310,590 shares during the period. Victory Capital Management Inc. increased its holdings in Jabil by 72.0% during the 2nd quarter. Victory Capital Management Inc. now owns 490,499 shares of the technology company’s stock worth $53,361,000 after purchasing an additional 205,331 shares during the period. Finally, Railway Pension Investments Ltd purchased a new position in Jabil during the 2nd quarter worth $17,200,000. 93.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

JBL has been the topic of several research reports. JPMorgan Chase & Co. reduced their price objective on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Stifel Nicolaus raised their price objective on Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Barclays raised their price objective on Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Finally, Bank of America raised their price objective on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Jabil has a consensus rating of “Moderate Buy” and an average price target of $143.50.

Jabil Stock Performance

NYSE JBL opened at $128.26 on Monday. The stock has a market capitalization of $14.47 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 1.51 and a beta of 1.24. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $156.94. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66. The stock has a 50-day moving average of $121.26 and a 200 day moving average of $115.39.

Jabil (NYSE:JBL) last released its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.08. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The company had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.59 billion. During the same quarter in the prior year, the firm posted $2.34 EPS. Jabil’s quarterly revenue was down 17.7% compared to the same quarter last year. Sell-side analysts anticipate that Jabil Inc. will post 7.84 EPS for the current fiscal year.

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend is Friday, November 15th. Jabil’s dividend payout ratio is presently 2.90%.

Insider Transactions at Jabil

In other news, Director Steven A. Raymund sold 20,000 shares of Jabil stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $124.70, for a total value of $2,494,000.00. Following the sale, the director now directly owns 139,108 shares of the company’s stock, valued at $17,346,767.60. The trade was a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Francis Mckay sold 11,755 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $121.71, for a total value of $1,430,701.05. Following the transaction, the senior vice president now directly owns 41,507 shares in the company, valued at $5,051,816.97. This trade represents a 22.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,689 shares of company stock valued at $5,377,431 over the last ninety days. Insiders own 2.62% of the company’s stock.

Jabil Company 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).