Magnetar Financial LLC Grows Stock Position in Jabil Inc. (NYSE:JBL)

Magnetar Financial LLC increased its stake in Jabil Inc. (NYSE:JBL) by 120.4% in the fourth quarter, HoldingsChannel reports. The fund owned 5,979 shares of the technology company’s stock after purchasing an additional 3,266 shares during the period. Magnetar Financial LLC’s holdings in Jabil were worth $860,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Teacher Retirement System of Texas lifted its stake in shares of Jabil by 55.7% in the 4th quarter. Teacher Retirement System of Texas now owns 278,651 shares of the technology company’s stock valued at $40,098,000 after acquiring an additional 99,642 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Jabil in the 4th quarter valued at about $652,000. Vinva Investment Management Ltd lifted its stake in shares of Jabil by 174.4% in the 4th quarter. Vinva Investment Management Ltd now owns 45,748 shares of the technology company’s stock valued at $6,577,000 after acquiring an additional 29,075 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Jabil by 558.4% in the 4th quarter. Intech Investment Management LLC now owns 34,929 shares of the technology company’s stock valued at $5,026,000 after acquiring an additional 29,624 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Jabil by 5.1% in the 4th quarter. Signaturefd LLC now owns 6,535 shares of the technology company’s stock valued at $940,000 after acquiring an additional 319 shares during the last quarter. Institutional investors own 93.39% of the company’s stock.

Jabil Stock Up 0.8 %

Shares of NYSE:JBL opened at $145.02 on Friday. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $174.80. The firm has a market capitalization of $15.83 billion, a P/E ratio of 13.90, a P/E/G ratio of 1.65 and a beta of 1.19. The stock has a 50 day moving average price of $155.96 and a 200-day moving average price of $137.91. 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 (NYSE:JBL) last announced its earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.11. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The firm had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same quarter in the prior year, the company earned $1.68 EPS. The business’s revenue was down .6% compared to the same quarter last year. As a group, equities research analysts anticipate that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a $0.08 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.22%. Jabil’s payout ratio is currently 3.07%.

Insider Buying and Selling

In other Jabil news, Director Steven A. Raymund sold 20,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $151.30, for a total transaction of $3,026,000.00. Following the sale, the director now directly owns 119,108 shares in the company, valued at approximately $18,021,040.40. This trade represents a 14.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Christopher S. Holland sold 3,400 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $162.27, for a total value of $551,718.00. Following the sale, the director now owns 12,900 shares in the company, valued at approximately $2,093,283. This represents a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,400 shares of company stock worth $12,804,458 in the last 90 days. Insiders own 1.73% of the company’s stock.

Analyst Ratings Changes

JBL has been the subject of a number of recent research reports. Barclays boosted their target price on Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a research note on Friday. UBS Group upped their price target on Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday. The Goldman Sachs Group upped their price target on Jabil from $160.00 to $179.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Stifel Nicolaus reaffirmed a “buy” rating and set a $160.00 price target (up previously from $150.00) on shares of Jabil in a research report on Thursday, December 19th. Finally, StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a research report on Friday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $167.50.

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).