APG Asset Management N.V. Acquires 15,262 Shares of Jabil Inc. (NYSE:JBL)

APG Asset Management N.V. grew its stake in Jabil Inc. (NYSE:JBL) by 23.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,215 shares of the technology company’s stock after purchasing an additional 15,262 shares during the period. APG Asset Management N.V. owned approximately 0.07% of Jabil worth $8,244,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Jabil by 10.5% in the fourth quarter. Vanguard Group Inc. now owns 15,070,238 shares of the technology company’s stock valued at $1,919,948,000 after buying an additional 1,427,429 shares in the last quarter. Primecap Management Co. CA grew its stake in shares of Jabil by 3.0% during the second quarter. Primecap Management Co. CA now owns 3,682,875 shares of the technology company’s stock worth $400,660,000 after purchasing an additional 107,800 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Jabil by 7.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,636,737 shares of the technology company’s stock worth $178,058,000 after buying an additional 106,808 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Jabil by 29.0% during the second quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock worth $150,463,000 after purchasing an additional 310,590 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Jabil by 195.8% in the second quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock valued at $115,404,000 after acquiring an additional 702,199 shares during the period. Institutional investors own 93.39% of the company’s stock.

Jabil Price Performance

JBL opened at $122.34 on Monday. Jabil Inc. has a 12 month low of $95.85 and a 12 month high of $156.94. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 1.26. The stock has a market cap of $13.88 billion, a P/E ratio of 11.13, a P/E/G ratio of 2.23 and a beta of 1.25. The company has a fifty day simple moving average of $107.42 and a 200 day simple moving average of $116.27.

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

Jabil Dividend Announcement

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

Insiders Place Their Bets

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

Analyst Ratings Changes

Several equities analysts have issued reports on JBL shares. Bank of America boosted their price objective on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday. Stifel Nicolaus upped their price objective on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday. Barclays lifted their price target on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a report on Friday. JPMorgan Chase & Co. lowered their price target on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Finally, UBS Group decreased their price target on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, June 21st. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $145.86.

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).