Sumitomo Mitsui DS Asset Management Company Ltd Increases Stake in Jabil Inc. (NYSE:JBL)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Jabil Inc. (NYSE:JBL) by 19.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,114 shares of the technology company’s stock after acquiring an additional 1,957 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Jabil were worth $1,543,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CVA Family Office LLC purchased a new stake in shares of Jabil in the fourth quarter valued at $36,000. Valley National Advisers Inc. bought a new position in shares of Jabil in the fourth quarter worth about $36,000. Hanseatic Management Services Inc. bought a new position in shares of Jabil in the third quarter worth about $48,000. Ceredex Value Advisors LLC bought a new position in shares of Jabil in the third quarter worth about $51,000. Finally, Allworth Financial LP grew its holdings in shares of Jabil by 745.8% in the fourth quarter. Allworth Financial LP now owns 406 shares of the technology company’s stock worth $52,000 after purchasing an additional 358 shares during the last quarter. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Wall Street Analyst Weigh In

JBL has been the topic of a number of research analyst reports. The Goldman Sachs Group upped their price target on shares of Jabil from $141.00 to $161.00 and gave the stock a “buy” rating in a report on Monday, March 4th. StockNews.com upgraded shares of Jabil from a “hold” rating to a “buy” rating in a report on Tuesday. Barclays cut their price target on shares of Jabil from $151.00 to $149.00 and set an “overweight” rating on the stock in a report on Monday, March 18th. Finally, Argus cut shares of Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $144.50.

Jabil Stock Down 0.5 %

Shares of Jabil stock opened at $120.24 on Thursday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.17 and a quick ratio of 0.72. Jabil Inc. has a 1 year low of $75.48 and a 1 year high of $156.94. The firm’s 50-day moving average is $136.83 and its two-hundred day moving average is $130.95. The stock has a market cap of $14.50 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 1.29 and a beta of 1.40.

Jabil (NYSE:JBL) last issued its earnings results on Friday, March 15th. The technology company reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.01). The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.91 billion. Jabil had a return on equity of 39.47% and a net margin of 4.70%. As a group, research analysts expect that Jabil Inc. will post 7.83 earnings per share for the current fiscal year.

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend is Tuesday, May 14th. Jabil’s payout ratio is 2.75%.

Insider Buying and Selling at Jabil

In other Jabil news, SVP May Yee Yap sold 7,877 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $139.65, for a total transaction of $1,100,023.05. Following the completion of the sale, the senior vice president now directly owns 29,006 shares of the company’s stock, valued at $4,050,687.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director David M. Stout sold 31,300 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $123.12, for a total value of $3,853,656.00. Following the completion of the transaction, the director now directly owns 67,300 shares of the company’s stock, valued at approximately $8,285,976. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP May Yee Yap sold 7,877 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $139.65, for a total transaction of $1,100,023.05. Following the completion of the transaction, the senior vice president now directly owns 29,006 shares of the company’s stock, valued at $4,050,687.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 107,177 shares of company stock valued at $13,678,039. 2.62% of the stock is currently owned by insiders.

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).