Wellington Management Group LLP Has $835.88 Million Stock Holdings in Jabil Inc. (NYSE:JBL)

Wellington Management Group LLP increased its position in shares of Jabil Inc. (NYSE:JBL) by 70,781.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,808,730 shares of the technology company’s stock after buying an additional 5,800,535 shares during the quarter. Wellington Management Group LLP owned about 5.32% of Jabil worth $835,876,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Meyer Handelman Co. acquired a new position in shares of Jabil during the fourth quarter worth approximately $7,334,000. Davis Investment Partners LLC bought a new stake in Jabil during the 4th quarter valued at $1,433,000. Truist Financial Corp raised its holdings in Jabil by 50.4% during the fourth quarter. Truist Financial Corp now owns 12,037 shares of the technology company’s stock worth $1,732,000 after buying an additional 4,034 shares during the last quarter. Merit Financial Group LLC bought a new position in shares of Jabil in the fourth quarter valued at $235,000. Finally, Keybank National Association OH acquired a new position in shares of Jabil during the fourth quarter valued at about $214,000. Institutional investors own 93.39% of the company’s stock.

Jabil Stock Performance

Shares of Jabil stock opened at $136.22 on Tuesday. The firm has a market capitalization of $14.87 billion, a P/E ratio of 13.06, a price-to-earnings-growth 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. The business’s fifty day simple moving average is $153.92 and its 200 day simple moving average is $140.07. Jabil Inc. has a 12 month low of $95.85 and a 12 month high of $174.80.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The company had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same period in the previous year, the firm earned $1.68 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. As a group, analysts anticipate that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Announces Dividend

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

Insider Buying and Selling

In other news, Director Christopher S. Holland sold 3,400 shares of Jabil stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $162.27, for a total value of $551,718.00. Following the completion of the transaction, the director now owns 12,900 shares in the company, valued at $2,093,283. This trade represents a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of the company’s 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 sale, the director now owns 119,108 shares in the company, valued at $18,021,040.40. The trade was a 14.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,400 shares of company stock valued at $12,804,458. 1.73% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

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).