Allstate Corp Raises Stock Position in Jabil, Inc. $JBL

Key Points

• Allstate Corp nearly doubled its stake in Jabil during the fourth quarter, buying 3,939 additional shares and bringing its total holding to 7,959 shares valued at about $1.8 million.
• Jabil reported strong quarterly results, with EPS of $2.69 beating estimates and revenue of $8.28 billion topping expectations, while revenue rose 23.1% year over year.
• Analysts remain generally upbeat on the stock, with several price target increases and a consensus rating of Moderate Buy; Jabil also recently declared a quarterly dividend of $0.08 per share.

Allstate Corp lifted its position in Jabil, Inc. (NYSE:JBL - Free Report) by 98.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,959 shares of the technology company's stock after buying an additional 3,939 shares during the period. Allstate Corp's holdings in Jabil were worth $1,815,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of JBL. Mirae Asset Global Investments Co. Ltd. boosted its stake in Jabil by 33.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,441 shares of the technology company's stock worth $5,742,000 after buying an additional 6,594 shares during the period. Westfield Capital Management Co. LP purchased a new position in Jabil during the third quarter worth about $57,799,000. Envestnet Asset Management Inc. boosted its stake in shares of Jabil by 9.1% in the third quarter. Envestnet Asset Management Inc. now owns 311,883 shares of the technology company's stock valued at $67,732,000 after purchasing an additional 25,932 shares during the period. Winnow Wealth LLC purchased a new position in shares of Jabil in the third quarter valued at approximately $1,077,000. Finally, Todd Asset Management LLC boosted its stake in shares of Jabil by 1.9% in the fourth quarter. Todd Asset Management LLC now owns 336,356 shares of the technology company's stock valued at $76,696,000 after purchasing an additional 6,179 shares during the period. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Jabil

In other Jabil news, SVP Gary K. Schick sold 1,000 shares of the business's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $340.00, for a total transaction of $340,000.00. Following the sale, the senior vice president directly owned 39,843 shares in the company, valued at approximately $13,546,620. The trade was a 2.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven D. Borges sold 5,126 shares of the business's stock in a transaction on Friday, April 17th. The stock was sold at an average price of $317.51, for a total transaction of $1,627,556.26. Following the sale, the executive vice president owned 71,398 shares in the company, valued at $22,669,578.98. The trade was a 6.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 37,981 shares of company stock worth $11,360,740. 1.35% of the stock is currently owned by insiders.

Jabil Stock Performance

Shares of Jabil stock opened at $363.42 on Friday. The firm's fifty day simple moving average is $316.75 and its 200-day simple moving average is $264.33. The stock has a market capitalization of $38.34 billion, a price-to-earnings ratio of 48.78, a PEG ratio of 1.93 and a beta of 1.29. Jabil, Inc. has a 12 month low of $164.69 and a 12 month high of $381.94. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.01 and a quick ratio of 0.68.

Jabil (NYSE:JBL - Get Free Report) last announced its earnings results on Wednesday, March 18th. The technology company reported $2.69 EPS for the quarter, beating analysts' consensus estimates of $2.51 by $0.18. Jabil had a net margin of 2.48% and a return on equity of 80.96%. The business had revenue of $8.28 billion for the quarter, compared to analysts' expectations of $7.75 billion. During the same period in the previous year, the company posted $1.94 EPS. The company's quarterly revenue was up 23.1% on a year-over-year basis. As a group, equities analysts forecast that Jabil, Inc. will post 11.3 earnings per share for the current year.

Jabil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Investors of record on Friday, May 15th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Friday, May 15th. Jabil's dividend payout ratio (DPR) is 4.30%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Weiss Ratings lowered shares of Jabil from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, April 24th. Bank of America raised their target price on shares of Jabil from $295.00 to $354.00 and gave the company a "buy" rating in a report on Monday, April 20th. The Goldman Sachs Group raised their target price on shares of Jabil from $336.00 to $384.00 and gave the company a "buy" rating in a report on Thursday, May 21st. Robert W. Baird raised their target price on shares of Jabil from $275.00 to $281.00 and gave the company an "outperform" rating in a report on Thursday, March 19th. Finally, Barclays raised their target price on shares of Jabil from $283.00 to $304.00 and gave the company an "overweight" rating in a report on Wednesday, March 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Jabil has an average rating of "Moderate Buy" and a consensus target price of $303.38.

Jabil Profile

Jabil Inc NYSE: JBL is a global manufacturing solutions provider specializing in electronic manufacturing services (EMS) and diversified products across a wide range of industries. The company partners with original equipment manufacturers to deliver design engineering, supply chain management, precision manufacturing, and aftermarket services. Jabil's expertise spans sectors such as healthcare, automotive, clean technology, telecommunications, consumer electronics, and packaging, enabling it to support both high-volume production and complex, mission-critical applications.

Founded in 1966 by William E.

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