Allstate Corp Makes New Investment in Jabil Inc. (NYSE:JBL)

Allstate Corp acquired a new stake in shares of Jabil Inc. (NYSE:JBL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,278 shares of the technology company’s stock, valued at approximately $472,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DnB Asset Management AS increased its holdings in shares of Jabil by 3.7% during the 4th quarter. DnB Asset Management AS now owns 21,426 shares of the technology company’s stock worth $3,083,000 after purchasing an additional 756 shares during the period. Level Four Advisory Services LLC acquired a new stake in shares of Jabil during the 4th quarter worth approximately $312,000. Orion Portfolio Solutions LLC increased its position in shares of Jabil by 144.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 4,698 shares of the technology company’s stock valued at $676,000 after purchasing an additional 2,773 shares during the period. denkapparat Operations GmbH acquired a new position in shares of Jabil in the fourth quarter valued at $232,000. Finally, Nomura Asset Management Co. Ltd. lifted its position in Jabil by 54.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 53,613 shares of the technology company’s stock worth $7,715,000 after purchasing an additional 18,876 shares during the period. Institutional investors and hedge funds own 93.39% of the company’s stock.

Insider Buying and Selling at Jabil

In other news, Director John C. Plant sold 50,000 shares of Jabil stock in a transaction on Friday, January 24th. The stock was 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 directly owns 5,900 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven A. Raymund sold 20,000 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $151.30, for a total value of $3,026,000.00. Following the sale, the director now owns 119,108 shares of the company’s stock, 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.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on JBL shares. Stifel Nicolaus restated a “buy” rating and issued a $160.00 price objective (up previously from $150.00) on shares of Jabil in a research note on Thursday, December 19th. Barclays increased their price target on shares of Jabil from $179.00 to $184.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a report on Friday, March 21st. The Goldman Sachs Group increased their target price on Jabil from $160.00 to $179.00 and gave the stock a “buy” rating in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. boosted their price target on Jabil from $172.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $167.50.

Jabil Stock Performance

NYSE JBL opened at $136.20 on Wednesday. The firm has a market cap of $14.87 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 1.65 and a beta of 1.19. 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 Inc. has a 1-year low of $95.85 and a 1-year high of $174.80. The company has a 50 day moving average of $153.29 and a 200-day moving average of $140.29.

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

Jabil Announces Dividend

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

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).