Point72 Asset Management L.P. Has $138.95 Million Stake in Jabil Inc. (NYSE:JBL)

Point72 Asset Management L.P. raised its stake in shares of Jabil Inc. (NYSE:JBL - Free Report) by 1,007.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 965,629 shares of the technology company's stock after buying an additional 878,444 shares during the quarter. Point72 Asset Management L.P. owned about 0.88% of Jabil worth $138,954,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Meyer Handelman Co. acquired a new stake in shares of Jabil during the fourth quarter worth $7,334,000. Truist Financial Corp grew its position in Jabil by 50.4% during the fourth quarter. Truist Financial Corp now owns 12,037 shares of the technology company's stock valued at $1,732,000 after acquiring an additional 4,034 shares during the period. Merit Financial Group LLC purchased a new stake in Jabil during the fourth quarter valued at about $235,000. Keybank National Association OH purchased a new stake in Jabil during the fourth quarter valued at about $214,000. Finally, Principal Financial Group Inc. grew its position in Jabil by 4.4% during the fourth quarter. Principal Financial Group Inc. now owns 143,266 shares of the technology company's stock valued at $20,616,000 after acquiring an additional 5,993 shares during the period. Institutional investors and hedge funds own 93.39% of the company's stock.

Insiders Place Their Bets

In other Jabil news, CEO Michael Dastoor sold 10,000 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 221,693 shares of the company's stock, valued at $37,665,640.70. This trade represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark T. Mondello sold 20,000 shares of the firm's stock in a transaction 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 in the company, valued at $227,624,059.52. The trade was 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 currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on JBL. The Goldman Sachs Group lowered their price target on Jabil from $175.00 to $146.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. StockNews.com downgraded Jabil from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. UBS Group upped their target price on Jabil from $152.00 to $157.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. JPMorgan Chase & Co. decreased their target price on Jabil from $175.00 to $154.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, Barclays upped their target price on Jabil from $179.00 to $184.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Jabil currently has an average rating of "Moderate Buy" and a consensus target price of $158.50.

Jabil Stock Up 0.8%

Shares of NYSE:JBL traded up $1.35 during trading on Friday, hitting $167.88. The company's stock had a trading volume of 828,016 shares, compared to its average volume of 1,444,195. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $174.80. The stock's 50-day moving average price is $141.38 and its two-hundred day moving average price is $145.32. The company has a market capitalization of $18.02 billion, a PE ratio of 16.10, a PEG ratio of 1.65 and a beta of 1.11.

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. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The business had revenue of $6.73 billion for the quarter, compared to analysts' expectations of $6.40 billion. During the same quarter in the previous year, the firm posted $1.68 earnings per share. The company's revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts expect that Jabil Inc. will post 8.05 EPS for the current year.

Jabil Announces Dividend

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

About Jabil

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).