Jabil Inc. (NYSE:JBL) Stake Reduced by Mackenzie Financial Corp

Mackenzie Financial Corp lessened its stake in shares of Jabil Inc. (NYSE:JBL - Free Report) by 2.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 70,069 shares of the technology company's stock after selling 2,063 shares during the period. Mackenzie Financial Corp owned 0.06% of Jabil worth $10,083,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of JBL. Wellington Management Group LLP increased its position in shares of Jabil by 70,781.4% during the 4th quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company's stock worth $835,876,000 after purchasing an additional 5,800,535 shares during the last quarter. FMR LLC grew its position in Jabil by 8.1% in the 4th quarter. FMR LLC now owns 5,533,149 shares of the technology company's stock valued at $796,220,000 after acquiring an additional 416,841 shares in the last quarter. Geode Capital Management LLC grew its position in Jabil by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company's stock valued at $404,024,000 after acquiring an additional 34,574 shares in the last quarter. JPMorgan Chase & Co. grew its position in Jabil by 18.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company's stock valued at $270,187,000 after acquiring an additional 288,806 shares in the last quarter. Finally, Norges Bank acquired a new position in Jabil in the 4th quarter valued at about $218,430,000. Hedge funds and other institutional investors own 93.39% of the company's stock.

Insiders Place Their Bets

In other news, CEO Michael Dastoor sold 10,000 shares of the business's 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark T. Mondello sold 20,000 shares of the business'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 value of $2,631,200.00. Following the completion of the sale, the chairman now owns 1,730,192 shares of the company's stock, valued at $227,624,059.52. This trade represents a 1.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.73% of the stock is owned by company insiders.

Jabil Trading Down 0.3%

Shares of Jabil stock traded down $0.58 during trading hours on Friday, reaching $167.97. The stock had a trading volume of 1,843,472 shares, compared to its average volume of 1,427,505. The firm has a 50 day simple moving average of $146.76 and a two-hundred day simple moving average of $147.66. The firm has a market capitalization of $18.03 billion, a price-to-earnings ratio of 16.10, a P/E/G ratio of 1.65 and a beta of 1.11. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $174.80.

Jabil (NYSE:JBL - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.83 by $0.11. The firm had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.40 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. Jabil's revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.68 EPS. As a group, equities research analysts anticipate 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 issued a dividend of $0.08 per share. The ex-dividend date is Thursday, May 15th. This represents a $0.32 annualized dividend and a yield of 0.19%. Jabil's dividend payout ratio is presently 7.66%.

Analysts Set New Price Targets

A number of brokerages have recently commented on JBL. JPMorgan Chase & Co. lowered their price objective on Jabil from $175.00 to $154.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Barclays boosted their target price on Jabil from $179.00 to $184.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. The Goldman Sachs Group decreased their price objective on Jabil from $175.00 to $146.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Wall Street Zen raised Jabil from a "hold" rating to a "buy" rating in a report on Monday, May 19th. Finally, UBS Group upped their price target on Jabil from $152.00 to $157.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Jabil presently has an average rating of "Moderate Buy" and an average price target of $158.50.

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).