Eagle Asset Management Inc. Buys New Holdings in Jabil Inc. (NYSE:JBL)

Eagle Asset Management Inc. bought a new stake in shares of Jabil Inc. (NYSE:JBL) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 45,349 shares of the technology company’s stock, valued at approximately $5,434,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in Jabil by 6.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,589 shares of the technology company’s stock valued at $195,000 after buying an additional 90 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in Jabil by 2.9% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,234 shares of the technology company’s stock valued at $387,000 after buying an additional 91 shares in the last quarter. Gateway Investment Advisers LLC grew its holdings in Jabil by 3.5% during the 3rd quarter. Gateway Investment Advisers LLC now owns 3,139 shares of the technology company’s stock valued at $376,000 after buying an additional 105 shares in the last quarter. GAMMA Investing LLC grew its holdings in Jabil by 15.3% during the 2nd quarter. GAMMA Investing LLC now owns 797 shares of the technology company’s stock valued at $87,000 after buying an additional 106 shares in the last quarter. Finally, M&R Capital Management Inc. boosted its holdings in shares of Jabil by 8.4% in the 2nd quarter. M&R Capital Management Inc. now owns 1,380 shares of the technology company’s stock worth $150,000 after purchasing an additional 107 shares during the period. Institutional investors own 93.39% of the company’s stock.

Jabil Price Performance

Shares of Jabil stock opened at $131.12 on Monday. The business has a 50 day simple moving average of $123.82 and a two-hundred day simple moving average of $115.81. Jabil Inc. has a 12 month low of $95.85 and a 12 month high of $156.94. The stock has a market capitalization of $14.80 billion, a P/E ratio of 11.90, a PEG ratio of 1.54 and a beta of 1.24. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72.

Jabil (NYSE:JBL) last announced its earnings results on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.08. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The business had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.59 billion. During the same quarter in the prior year, the firm earned $2.34 earnings per share. The business’s revenue was down 17.7% compared to the same quarter last year. As a group, analysts predict that Jabil Inc. will post 7.84 EPS for the current fiscal year.

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend is Friday, November 15th. Jabil’s dividend payout ratio (DPR) is currently 2.90%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Barclays lifted their target price on Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Bank of America boosted their price objective on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 27th. JPMorgan Chase & Co. dropped their price objective on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Finally, Stifel Nicolaus boosted their price objective on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Jabil presently has an average rating of “Moderate Buy” and a consensus price target of $143.50.

Insider Transactions at Jabil

In other news, SVP Francis Mckay sold 11,755 shares of Jabil stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the sale, the senior vice president now owns 41,507 shares in the company, valued at approximately $5,051,816.97. The trade was a 22.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Frederic E. Mccoy sold 4,283 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $122.28, for a total value of $523,725.24. Following the sale, the executive vice president now directly owns 142,472 shares of the company’s stock, valued at approximately $17,421,476.16. This represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,689 shares of company stock worth $5,377,431. Corporate insiders own 2.62% of the company’s stock.

Jabil 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).