Meyer Handelman Co. Purchases 1,349 Shares of Jabil Inc. (NYSE:JBL)

Meyer Handelman Co. increased its position in Jabil Inc. (NYSE:JBL) by 2.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 52,316 shares of the technology company’s stock after purchasing an additional 1,349 shares during the quarter. Meyer Handelman Co.’s holdings in Jabil were worth $7,119,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of JBL. Wellington Management Group LLP grew 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 during the last quarter. FMR LLC grew its stake in Jabil by 8.1% in the 4th quarter. FMR LLC now owns 5,533,149 shares of the technology company’s stock valued at $796,220,000 after buying an additional 416,841 shares during the last quarter. Geode Capital Management LLC grew its stake in Jabil by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company’s stock valued at $404,024,000 after buying an additional 34,574 shares during the last quarter. JPMorgan Chase & Co. grew 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 buying an additional 288,806 shares during the last quarter. Finally, Norges Bank acquired a new position in Jabil in the 4th quarter valued at about $218,430,000. 93.39% of the stock is owned by institutional investors.

Jabil Price Performance

Shares of NYSE JBL opened at $167.97 on Friday. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $174.80. The firm has a fifty day simple moving average of $146.76 and a 200 day simple moving average of $147.66. The company has a market capitalization of $18.03 billion, a PE ratio of 16.10, a P/E/G ratio of 1.65 and a beta of 1.11. 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 (NYSE:JBL) last announced its 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 business had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter last year, the firm earned $1.68 earnings per share. Jabil’s quarterly revenue was down .6% on a year-over-year basis. On average, sell-side analysts forecast 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 0.19%. The ex-dividend date is Thursday, May 15th. Jabil’s payout ratio is 7.66%.

Analysts Set New Price Targets

A number of research analysts have issued reports on JBL shares. Wall Street Zen upgraded shares of Jabil from a “hold” rating to a “buy” rating in a research report on Monday, May 19th. JPMorgan Chase & Co. dropped their price target on shares of Jabil from $175.00 to $154.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. 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 note on Friday, March 21st. UBS Group raised their price target on shares of Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Finally, The Goldman Sachs Group dropped their price target on shares of Jabil from $175.00 to $146.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Jabil presently has an average rating of “Moderate Buy” and an average target price of $158.50.

Insiders Place Their Bets

In other Jabil news, CEO Michael Dastoor sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $169.90, for a total value of $1,699,000.00. Following the completion of the sale, the chief executive officer now directly owns 221,693 shares in the company, valued at approximately $37,665,640.70. This trade represents a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark T. Mondello sold 20,000 shares of the firm’s stock in a transaction on Friday, April 11th. The stock was sold at an average price of $131.56, for a total transaction of $2,631,200.00. Following the completion of the sale, the chairman now owns 1,730,192 shares of the company’s stock, valued at $227,624,059.52. The trade was a 1.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.73% of the company’s stock.

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).