Canada Pension Plan Investment Board Reduces Holdings in Jabil Inc. (NYSE:JBL)

Canada Pension Plan Investment Board lessened its holdings in Jabil Inc. (NYSE:JBL) by 13.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,742 shares of the technology company’s stock after selling 10,658 shares during the period. Canada Pension Plan Investment Board owned 0.06% of Jabil worth $10,036,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Wellington Management Group LLP lifted its stake in Jabil by 70,781.4% in the 4th quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company’s stock valued at $835,876,000 after buying an additional 5,800,535 shares in the last quarter. Norges Bank purchased a new stake in shares of Jabil in the fourth quarter valued at $218,430,000. FMR LLC boosted its stake in shares of Jabil by 8.1% during the fourth quarter. FMR LLC now owns 5,533,149 shares of the technology company’s stock valued at $796,220,000 after acquiring an additional 416,841 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Jabil during the 4th quarter worth about $43,312,000. Finally, JPMorgan Chase & Co. raised its stake in Jabil by 18.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company’s stock valued at $270,187,000 after purchasing an additional 288,806 shares during the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Jabil

In other news, 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 completion of the sale, the director now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the director now directly owns 5,900 shares of the company’s stock, valued at $1,018,045. This represents a 89.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,400 shares of company stock valued at $11,810,418 over the last 90 days. 1.73% of the stock is owned by corporate insiders.

Jabil Trading Down 3.9 %

NYSE JBL opened at $129.80 on Tuesday. The firm has a market capitalization of $13.93 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 1.65 and a beta of 1.12. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. Jabil Inc. has a one year low of $95.85 and a one year high of $174.80. The company’s 50 day moving average price is $142.17 and its 200 day moving average price is $141.75.

Jabil (NYSE:JBL) last posted its earnings results 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 net margin of 4.71% and a return on equity of 41.87%. The business had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same quarter in the previous year, the business posted $1.68 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. On average, sell-side analysts predict that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Thursday, May 15th. Jabil’s dividend payout ratio is presently 7.66%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on JBL shares. UBS Group boosted their price objective on shares of Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. StockNews.com lowered Jabil from a “buy” rating to a “hold” rating in a research note on Friday. The Goldman Sachs Group lowered their price objective on Jabil from $175.00 to $146.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Barclays increased their target price on Jabil from $179.00 to $184.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Finally, JPMorgan Chase & Co. lowered their price target on Jabil from $175.00 to $154.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $158.50.

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).