Martingale Asset Management L P Invests $3.06 Million in Jabil Inc. (NYSE:JBL)

Martingale Asset Management L P bought a new position in shares of Jabil Inc. (NYSE:JBL) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 21,272 shares of the technology company’s stock, valued at approximately $3,061,000.

A number of other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP increased its position in shares of Jabil by 70,781.4% during the fourth quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company’s stock worth $835,876,000 after acquiring an additional 5,800,535 shares during the period. FMR LLC increased its position 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 worth $796,220,000 after acquiring an additional 416,841 shares during the period. Geode Capital Management LLC increased its position in shares of Jabil by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company’s stock worth $404,024,000 after acquiring an additional 34,574 shares during the period. JPMorgan Chase & Co. increased its position in shares of Jabil by 18.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company’s stock worth $270,187,000 after acquiring an additional 288,806 shares during the period. Finally, Norges Bank purchased a new position in shares of Jabil during the fourth quarter worth approximately $218,430,000. 93.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on JBL shares. UBS Group lifted their price objective on shares of Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Barclays lifted their price objective on shares of Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Stifel Nicolaus reissued a “buy” rating and set a $160.00 price objective (up from $150.00) on shares of Jabil in a report on Thursday, December 19th. JPMorgan Chase & Co. lifted their price objective on shares of Jabil from $172.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Finally, The Goldman Sachs Group lifted their price objective on shares of Jabil from $160.00 to $179.00 and gave the company a “buy” rating in a report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $167.50.

Insider Transactions at Jabil

In other news, Director Steven A. Raymund sold 20,000 shares of Jabil stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $8,627,500.00. Following the sale, the director now owns 5,900 shares of the company’s stock, valued at $1,018,045. The trade was a 89.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,400 shares of company stock worth $12,205,218. Company insiders own 1.73% of the company’s stock.

Jabil Price Performance

Shares of JBL opened at $137.54 on Thursday. The company has a market cap of $15.02 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 1.65 and a beta of 1.12. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $174.80. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The company has a 50 day moving average of $147.20 and a two-hundred day moving average of $140.82.

Jabil (NYSE:JBL) last announced 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. The company had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.40 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. Jabil’s revenue was down .6% compared to the same quarter last year. During the same period last year, the firm earned $1.68 earnings per share. As a group, analysts predict 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. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.23%. Jabil’s 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).