KLP Kapitalforvaltning AS Makes New $5.76 Million Investment in Jabil Inc. (NYSE:JBL)

KLP Kapitalforvaltning AS purchased a new stake in shares of Jabil Inc. (NYSE:JBL) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 40,000 shares of the technology company’s stock, valued at approximately $5,756,000.

A number of other hedge funds have also modified their holdings of the stock. FMR LLC grew 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 purchasing an additional 520,672 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Jabil by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,045,213 shares of the technology company’s stock valued at $150,406,000 after buying an additional 10,541 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in 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 worth $108,270,000 after buying an additional 118,376 shares during the last quarter. Two Sigma Advisers LP raised its position in Jabil by 406.5% during the third quarter. Two Sigma Advisers LP now owns 722,800 shares of the technology company’s stock valued at $86,613,000 after acquiring an additional 580,100 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Jabil by 50.8% in the fourth quarter. Victory Capital Management Inc. now owns 627,041 shares of the technology company’s stock valued at $90,231,000 after acquiring an additional 211,168 shares during the last quarter. 93.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on JBL. The Goldman Sachs Group raised their price target on shares of Jabil from $160.00 to $179.00 and gave the company a “buy” rating in a report on Monday, February 24th. StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a report on Friday, March 21st. UBS Group upped their price target on Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Barclays raised their price objective on Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. upped their target price on Jabil from $172.00 to $175.00 and gave the stock 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $167.50.

Jabil Price Performance

Shares of NYSE:JBL opened at $148.20 on Wednesday. The company has a market cap of $16.18 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 1.65 and a beta of 1.19. The business has a 50 day moving average price of $155.73 and a 200 day moving average price of $139.06. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $174.80.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.11. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The company had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same period in the prior year, the business earned $1.68 earnings per share. Jabil’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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend was Tuesday, February 18th. Jabil’s dividend payout ratio is currently 7.66%.

Insider Activity at Jabil

In other Jabil news, EVP Frederic E. Mccoy sold 4,000 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $149.81, for a total value of $599,240.00. Following the sale, the executive vice president now owns 138,472 shares of the company’s stock, valued at $20,744,490.32. The trade was a 2.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Christopher S. Holland sold 3,400 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $162.27, for a total transaction of $551,718.00. Following the transaction, the director now directly owns 12,900 shares of the company’s stock, valued at $2,093,283. The trade was a 20.86 % 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 worth $12,804,458. Company insiders own 1.73% of the company’s stock.

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).