Forsta AP Fonden Grows Stock Holdings in Jabil Inc. (NYSE:JBL)

Forsta AP Fonden grew its holdings in shares of Jabil Inc. (NYSE:JBL) by 51.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 66,581 shares of the technology company’s stock after purchasing an additional 22,700 shares during the quarter. Forsta AP Fonden owned approximately 0.06% of Jabil worth $9,581,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Meyer Handelman Co. acquired a new position in Jabil in the fourth quarter valued at $7,334,000. Davis Investment Partners LLC acquired a new position in shares of Jabil during the 4th quarter valued at about $1,433,000. Nicola Wealth Management LTD. lifted its holdings in shares of Jabil by 54.9% during the 3rd quarter. Nicola Wealth Management LTD. now owns 39,500 shares of the technology company’s stock worth $4,733,000 after acquiring an additional 14,000 shares during the period. Foster & Motley Inc. boosted its position in shares of Jabil by 8.7% in the third quarter. Foster & Motley Inc. now owns 52,173 shares of the technology company’s stock worth $6,252,000 after acquiring an additional 4,181 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in Jabil by 11.8% in the third quarter. Empowered Funds LLC now owns 145,682 shares of the technology company’s stock valued at $17,457,000 after purchasing an additional 15,413 shares during the period. Institutional investors and hedge funds own 93.39% of the company’s stock.

Insiders Place Their Bets

In other Jabil news, Director John C. Plant sold 50,000 shares of the 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 completion of the sale, the director now owns 5,900 shares in the company, valued at approximately $1,018,045. This trade represents a 89.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $151.30, for a total transaction of $3,026,000.00. Following the transaction, the director now directly owns 119,108 shares of the company’s stock, valued at $18,021,040.40. This represents a 14.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,000 shares of company stock worth $12,252,740. Corporate insiders own 1.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on JBL. Stifel Nicolaus reiterated a “buy” rating and issued a $160.00 target price (up previously from $150.00) on shares of Jabil in a report on Thursday, December 19th. UBS Group increased their target price on shares of Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. The Goldman Sachs Group raised their price target on shares of Jabil from $136.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. StockNews.com downgraded shares of Jabil from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Barclays increased their price objective on shares of Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $153.17.

Jabil Stock Performance

NYSE JBL opened at $162.54 on Friday. The firm has a 50-day moving average of $147.07 and a 200-day moving average of $126.54. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. The stock has a market cap of $17.75 billion, a PE ratio of 15.58, a P/E/G ratio of 1.68 and a beta of 1.23. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $174.80.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Wednesday, December 18th. The technology company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.12. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The firm had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.61 billion. During the same quarter last year, the company earned $2.60 EPS. The company’s revenue was down 16.6% on a year-over-year basis. On average, sell-side analysts anticipate that Jabil Inc. will post 8.03 EPS for the current year.

Jabil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date is Tuesday, February 18th. Jabil’s dividend payout ratio is 3.07%.

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).