Abacus Planning Group Inc. Buys Shares of 1,630 Jabil Inc. (NYSE:JBL)

Abacus Planning Group Inc. bought a new stake in Jabil Inc. (NYSE:JBL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,630 shares of the technology company’s stock, valued at approximately $235,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC lifted its stake in Jabil by 11.3% in the third quarter. FMR LLC now owns 5,116,308 shares of the technology company’s stock valued at $613,087,000 after acquiring an additional 520,672 shares during the last quarter. Primecap Management Co. CA raised its position in shares of Jabil by 0.3% in the third quarter. Primecap Management Co. CA now owns 3,692,560 shares of the technology company’s stock valued at $442,479,000 after purchasing an additional 9,685 shares during the period. Pacer Advisors Inc. raised its position in shares of Jabil by 12,251.7% in the third quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock valued at $264,391,000 after purchasing an additional 2,188,521 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Jabil by 15.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 903,526 shares of the technology company’s stock valued at $108,270,000 after purchasing an additional 118,376 shares during the period. Finally, Two Sigma Advisers LP raised its position 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 valued at $86,613,000 after purchasing an additional 580,100 shares during the period. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Jabil Trading Down 0.5 %

Shares of JBL stock opened at $169.03 on Thursday. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $174.80. The stock has a market cap of $18.45 billion, a price-to-earnings ratio of 16.21, a P/E/G ratio of 1.68 and a beta of 1.23. 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 firm has a fifty day moving average of $156.02 and a 200-day moving average of $132.03.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Wednesday, December 18th. The technology company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.12. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company had revenue of $6.99 billion during the quarter, compared to analysts’ expectations of $6.61 billion. During the same quarter in the prior year, the company posted $2.60 EPS. The business’s revenue was down 16.6% on a year-over-year basis. On average, equities research analysts forecast that Jabil Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Announces Dividend

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 0.19%. The ex-dividend date of this dividend is Tuesday, February 18th. Jabil’s dividend payout ratio is 3.07%.

Insider Activity

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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $151.30, for a total transaction of $3,026,000.00. Following the completion of the sale, the director now directly owns 119,108 shares in the company, valued at approximately $18,021,040.40. The trade was a 14.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,400 shares of company stock worth $12,804,458. 1.73% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

JBL has been the topic of a number of recent analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $160.00 price target (up previously from $150.00) on shares of Jabil in a research report on Thursday, December 19th. StockNews.com lowered shares of Jabil from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group lifted their price target on shares of Jabil from $136.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. UBS Group boosted 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. Finally, Barclays boosted their target price on shares of Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $153.17.

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).