BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Grows Holdings in Jabil Inc. (NYSE:JBL)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Jabil Inc. (NYSE:JBL) by 51.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,107 shares of the technology company’s stock after acquiring an additional 7,878 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Jabil were worth $2,514,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of JBL. Czech National Bank raised its holdings in Jabil by 0.3% in the 1st quarter. Czech National Bank now owns 22,439 shares of the technology company’s stock worth $3,006,000 after purchasing an additional 73 shares during the period. GAMMA Investing LLC increased its position in shares of Jabil by 15.3% in the second quarter. GAMMA Investing LLC now owns 797 shares of the technology company’s stock valued at $87,000 after buying an additional 106 shares in the last quarter. M&R Capital Management Inc. raised its stake in shares of Jabil by 8.4% during the 2nd quarter. M&R Capital Management Inc. now owns 1,380 shares of the technology company’s stock worth $150,000 after buying an additional 107 shares during the period. Gulf International Bank UK Ltd lifted its position in shares of Jabil by 1.0% during the 1st quarter. Gulf International Bank UK Ltd now owns 10,743 shares of the technology company’s stock valued at $1,439,000 after buying an additional 110 shares in the last quarter. Finally, Kathmere Capital Management LLC grew its stake in Jabil by 2.7% in the 2nd quarter. Kathmere Capital Management LLC now owns 4,342 shares of the technology company’s stock valued at $472,000 after acquiring an additional 114 shares during the period. 93.39% of the stock is owned by hedge funds and other institutional investors.

Jabil Price Performance

NYSE:JBL opened at $122.34 on Friday. Jabil Inc. has a one year low of $95.85 and a one year high of $156.94. The stock has a market cap of $13.88 billion, a PE ratio of 11.13, a P/E/G ratio of 2.23 and a beta of 1.25. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 1.13. The stock has a 50 day moving average price of $107.42 and a 200 day moving average price of $116.49.

Jabil (NYSE:JBL) last issued its earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.08. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.59 billion. During the same period last year, the company earned $2.34 EPS. The company’s revenue for the quarter was down 17.7% on a year-over-year basis. Equities research analysts expect that Jabil Inc. will post 7.85 EPS for the current fiscal year.

Jabil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were paid a $0.08 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. Jabil’s dividend payout ratio (DPR) is 2.91%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on JBL. Barclays upped their price objective on shares of Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research report on Friday. UBS Group decreased their price target on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, June 21st. JPMorgan Chase & Co. cut their price objective on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Stifel Nicolaus raised their target price on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday. Finally, Bank of America boosted their price target on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $145.75.

Insider Transactions at Jabil

In related news, EVP Frederic E. Mccoy sold 1,250 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $116.42, for a total value of $145,525.00. Following the transaction, the executive vice president now directly owns 112,753 shares in the company, valued at $13,126,704.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Jabil news, EVP Frederic E. Mccoy sold 1,250 shares of Jabil stock in a transaction on Monday, July 15th. The stock was sold at an average price of $116.42, for a total value of $145,525.00. Following the sale, the executive vice president now owns 112,753 shares in the company, valued at $13,126,704.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP May Yee Yap sold 4,274 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total value of $500,228.96. Following the transaction, the senior vice president now owns 24,829 shares of the company’s stock, valued at $2,905,986.16. The disclosure for this sale can be found here. Insiders own 2.62% of the company’s stock.

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).