Tidal Investments LLC Boosts Position in Jabil Inc. (NYSE:JBL)

Tidal Investments LLC raised its position in shares of Jabil Inc. (NYSE:JBL - Free Report) by 13.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,000 shares of the technology company's stock after purchasing an additional 1,537 shares during the period. Tidal Investments LLC's holdings in Jabil were worth $1,871,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of JBL. Wellington Management Group LLP increased its holdings in Jabil by 70,781.4% in 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 during the last quarter. FMR LLC raised its position in shares of Jabil by 8.1% in the fourth quarter. FMR LLC now owns 5,533,149 shares of the technology company's stock valued at $796,220,000 after purchasing an additional 416,841 shares during the period. Geode Capital Management LLC lifted its stake in shares of Jabil by 1.2% during 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 buying an additional 34,574 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Jabil by 18.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company's stock worth $270,187,000 after buying an additional 288,806 shares during the period. Finally, Norges Bank purchased a new position in Jabil in the 4th quarter valued at approximately $218,430,000. 93.39% of the stock is owned by hedge funds and other institutional investors.

Jabil Price Performance

Shares of JBL stock traded up $3.76 during trading on Tuesday, hitting $169.14. The company had a trading volume of 861,542 shares, compared to its average volume of 1,424,652. The stock's 50-day moving average is $145.03 and its two-hundred day moving average is $146.89. The stock has a market capitalization of $18.16 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 1.65 and a beta of 1.11. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. Jabil Inc. has a 52 week low of $95.85 and a 52 week high of $174.80.

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

Jabil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend is Thursday, May 15th. Jabil's payout ratio is currently 7.66%.

Insider Activity

In other Jabil news, Chairman Mark T. Mondello sold 20,000 shares of the company's stock in a transaction dated 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 completion of the sale, the chairman now directly owns 1,730,192 shares in the company, valued at $227,624,059.52. This represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael Dastoor sold 10,000 shares of Jabil stock in a transaction dated 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 transaction, the chief executive officer now owns 221,693 shares in the company, valued at approximately $37,665,640.70. This represents a 4.32% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.73% of the company's stock.

Wall Street Analysts Forecast Growth

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