Norges Bank Invests $407.30 Million in Jabil, Inc. $JBL

Key Points

• Norges Bank disclosed a new position in Jabil, buying 1,786,241 shares valued at about $407.3 million, giving it 1.69% ownership of the company.
• Jabil recently reported better-than-expected quarterly results, with EPS of $2.69 versus $2.51 expected and revenue of $8.28 billion, up 23.1% year over year.
• The company also declared a quarterly dividend of $0.08 per share, while analysts currently rate the stock a Moderate Buy with an average target price of $303.38.

Norges Bank acquired a new position in shares of Jabil, Inc. (NYSE:JBL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,786,241 shares of the technology company's stock, valued at approximately $407,299,000. Norges Bank owned 1.69% of Jabil as of its most recent SEC filing.

Several other large investors also recently modified their holdings of JBL. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of 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 valued at $5,742,000 after buying an additional 6,594 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Jabil during the third quarter valued at about $57,799,000. Envestnet Asset Management Inc. grew its holdings in shares of Jabil by 9.1% during the third quarter. Envestnet Asset Management Inc. now owns 311,883 shares of the technology company's stock valued at $67,732,000 after buying an additional 25,932 shares during the last quarter. Jackson Creek Investment Advisors LLC grew its holdings in shares of Jabil by 386.2% during the fourth quarter. Jackson Creek Investment Advisors LLC now owns 11,290 shares of the technology company's stock valued at $2,574,000 after buying an additional 8,968 shares during the last quarter. Finally, Todd Asset Management LLC grew its holdings in shares of Jabil by 1.9% during the fourth quarter. Todd Asset Management LLC now owns 336,356 shares of the technology company's stock valued at $76,696,000 after buying an additional 6,179 shares during the last quarter. Institutional investors and hedge funds own 93.39% of the company's stock.

Jabil Price Performance

JBL opened at $359.64 on Tuesday. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.01 and a quick ratio of 0.68. The company has a market capitalization of $37.94 billion, a price-to-earnings ratio of 48.27, a P/E/G ratio of 1.89 and a beta of 1.28. The firm's fifty day moving average price is $320.76 and its two-hundred day moving average price is $266.39. Jabil, Inc. has a 1 year low of $164.69 and a 1 year high of $381.94.

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

Jabil Announces Dividend

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

Wall Street Analyst Weigh In

JBL has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Jabil from $270.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, March 12th. Zacks Research cut shares of Jabil from a "strong-buy" rating to a "hold" rating in a report on Monday, May 18th. The Goldman Sachs Group lifted their price objective on shares of Jabil from $336.00 to $384.00 and gave the company a "buy" rating in a report on Thursday, May 21st. Weiss Ratings cut shares of Jabil from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, April 24th. Finally, Bank of America lifted their price objective on shares of Jabil from $295.00 to $354.00 and gave the stock a "buy" rating in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Jabil presently has a consensus rating of "Moderate Buy" and an average target price of $303.38.

Insider Buying and Selling

In related news, EVP Andrew Priestley sold 4,000 shares of the business's stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $301.00, for a total value of $1,204,000.00. Following the transaction, the executive vice president directly owned 60,267 shares of the company's stock, valued at approximately $18,140,367. The trade was a 6.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anousheh Ansari sold 2,000 shares of the business's stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the transaction, the director directly owned 31,800 shares in the company, valued at $9,540,000. This trade represents a 5.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 37,981 shares of company stock worth $11,360,740 in the last ninety days. Corporate insiders own 1.35% of the company's stock.

About Jabil

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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