Rhumbline Advisers Buys 14,033 Shares of Jabil Inc. (NYSE:JBL)

Rhumbline Advisers lifted its position in shares of Jabil Inc. (NYSE:JBL - Free Report) by 6.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 227,017 shares of the technology company's stock after buying an additional 14,033 shares during the quarter. Rhumbline Advisers owned about 0.21% of Jabil worth $30,890,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP boosted 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 acquiring an additional 5,800,535 shares in the last quarter. FMR LLC increased 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 during the period. Geode Capital Management LLC increased its holdings in Jabil by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company's stock valued at $404,024,000 after purchasing an additional 34,574 shares during the period. JPMorgan Chase & Co. raised its position in shares of Jabil by 18.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company's stock worth $270,187,000 after acquiring an additional 288,806 shares during the last quarter. Finally, Norges Bank bought a new position in Jabil during the 4th quarter worth approximately $218,430,000. Institutional investors and hedge funds own 93.39% of the company's stock.

Insider Activity

In related news, CEO Michael Dastoor sold 10,000 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $169.90, for a total transaction of $1,699,000.00. Following 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark T. Mondello sold 20,000 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $166.75, for a total transaction of $3,335,000.00. Following the completion of the transaction, the chairman now directly owns 1,710,192 shares of the company's stock, valued at approximately $285,174,516. The trade was a 1.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock valued at $7,665,200 over the last quarter. Company insiders own 1.73% of the company's stock.

Jabil Stock Performance

JBL stock traded up $4.29 during midday trading on Friday, hitting $176.93. The company's stock had a trading volume of 1,182,933 shares, compared to its average volume of 1,423,049. The stock has a market cap of $18.99 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 1.65 and a beta of 1.14. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock's 50-day moving average price is $149.36 and its 200 day moving average price is $148.81. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $176.96.

Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.11. The company had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.40 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The firm's quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.68 EPS. On average, equities analysts forecast that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were paid a $0.08 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.18%. Jabil's payout ratio is 7.66%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on JBL shares. The Goldman Sachs Group reduced their price objective on shares of Jabil from $175.00 to $146.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Barclays upped 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. Wall Street Zen upgraded shares of Jabil from a "hold" rating to a "buy" rating in a research note on Monday, May 19th. UBS Group upped their target price on shares of Jabil from $152.00 to $157.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Finally, JPMorgan Chase & Co. cut their target price on Jabil from $175.00 to $154.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price 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).