Silvercrest Asset Management Group LLC Takes Position in Jabil Inc. (NYSE:JBL)

Silvercrest Asset Management Group LLC acquired a new position in Jabil Inc. (NYSE:JBL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 150,795 shares of the technology company's stock, valued at approximately $21,699,000. Silvercrest Asset Management Group LLC owned about 0.14% of Jabil at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of JBL. Wellington Management Group LLP grew its position in 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 valued at $835,876,000 after acquiring an additional 5,800,535 shares during the last quarter. Norges Bank bought a new position in Jabil during the fourth quarter valued at approximately $218,430,000. Point72 Asset Management L.P. grew its position in Jabil by 1,007.6% during the fourth quarter. Point72 Asset Management L.P. now owns 965,629 shares of the technology company's stock valued at $138,954,000 after acquiring an additional 878,444 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Jabil by 16,190.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 552,740 shares of the technology company's stock valued at $79,539,000 after purchasing an additional 549,347 shares during the period. Finally, FMR LLC boosted its stake 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 valued at $796,220,000 after purchasing an additional 416,841 shares during the period. 93.39% of the stock is currently owned by institutional investors.

Jabil Stock Performance

Shares of Jabil stock traded up $0.03 during trading hours on Tuesday, reaching $167.47. 1,390,409 shares of the stock traded hands, compared to its average volume of 1,434,264. The company has a 50 day moving average price of $142.05 and a 200 day moving average price of $145.76. The firm has a market capitalization of $17.98 billion, a price-to-earnings ratio of 16.06, a P/E/G ratio of 1.65 and a beta of 1.11. Jabil Inc. has a one year low of $95.85 and a one year 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.

Jabil (NYSE:JBL - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.11. The business had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.40 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The business's quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.68 EPS. On average, equities research analysts expect 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 will be paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.19%. Jabil's payout ratio is currently 7.66%.

Insider Activity

In related news, Chairman Mark T. Mondello sold 20,000 shares of the business's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $131.56, for a total value of $2,631,200.00. Following the transaction, the chairman now directly owns 1,730,192 shares of the company's stock, valued at approximately $227,624,059.52. The trade was a 1.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Dastoor sold 10,000 shares of Jabil stock in a transaction that occurred on Wednesday, May 14th. The stock was 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. The trade was a 4.32% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on JBL shares. JPMorgan Chase & Co. dropped their price target on Jabil from $175.00 to $154.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. StockNews.com raised Jabil from a "hold" rating to a "buy" rating in a research note on Monday. Barclays raised their price target on Jabil from $179.00 to $184.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. UBS Group raised their price objective on Jabil from $152.00 to $157.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Finally, The Goldman Sachs Group lowered their price objective on Jabil from $175.00 to $146.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Jabil has a consensus rating of "Moderate Buy" and an average target price of $158.50.

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).