Comerica Bank Purchases 2,199 Shares of Jabil Inc. (NYSE:JBL)

Comerica Bank grew its holdings in Jabil Inc. (NYSE:JBL - Free Report) by 10.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,438 shares of the technology company's stock after purchasing an additional 2,199 shares during the period. Comerica Bank's holdings in Jabil were worth $3,229,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Meyer Handelman Co. acquired a new stake in Jabil in the 4th quarter valued at $7,334,000. Davis Investment Partners LLC acquired a new position in Jabil during the fourth quarter valued at approximately $1,433,000. Truist Financial Corp grew its stake in Jabil by 50.4% in the fourth quarter. Truist Financial Corp now owns 12,037 shares of the technology company's stock valued at $1,732,000 after purchasing an additional 4,034 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of Jabil during the 4th quarter worth approximately $235,000. Finally, Keybank National Association OH acquired a new position in shares of Jabil during the 4th quarter worth approximately $214,000. Institutional investors own 93.39% of the company's stock.

Insiders Place Their Bets

In other news, Chairman Mark T. Mondello sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $131.56, for a total transaction 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. This trade represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.73% of the company's stock.

Jabil Stock Performance

Jabil stock traded up $6.44 during trading hours on Tuesday, hitting $168.18. The company had a trading volume of 383,876 shares, compared to its average volume of 1,450,412. Jabil Inc. has a one year low of $95.85 and a one year high of $174.80. The firm has a market cap of $18.05 billion, a PE ratio of 16.12, a PEG ratio of 1.65 and a beta of 1.11. The firm has a 50-day moving average of $138.88 and a 200 day moving average of $144.28. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72.

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 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 business had revenue of $6.73 billion during the quarter, compared to analysts' expectations of $6.40 billion. During the same period last year, the firm posted $1.68 EPS. The firm's revenue for the quarter was down .6% compared to the same quarter last year. On average, sell-side analysts expect that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.19%. The ex-dividend date is Thursday, May 15th. Jabil's dividend payout ratio (DPR) is 7.66%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on JBL. JPMorgan Chase & Co. decreased their target price 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. StockNews.com downgraded shares of Jabil from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Barclays upped their target price on shares of Jabil from $179.00 to $184.00 and gave the company an "overweight" rating in a report on Friday, March 21st. The Goldman Sachs Group reduced their price target on Jabil from $175.00 to $146.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Finally, UBS Group upped their price objective on Jabil from $152.00 to $157.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $158.50.

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).