Daiwa Securities Group Inc. Has $1.66 Million Holdings in Jabil Inc. (NYSE:JBL)

Daiwa Securities Group Inc. grew its stake in shares of Jabil Inc. (NYSE:JBL) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,833 shares of the technology company’s stock after acquiring an additional 384 shares during the period. Daiwa Securities Group Inc.’s holdings in Jabil were worth $1,658,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Van ECK Associates Corp lifted its position in Jabil by 6.0% during the third quarter. Van ECK Associates Corp now owns 1,589 shares of the technology company’s stock worth $195,000 after acquiring an additional 90 shares during the last quarter. Verdence Capital Advisors LLC raised its position in shares of Jabil by 2.9% in the third quarter. Verdence Capital Advisors LLC now owns 3,234 shares of the technology company’s stock valued at $387,000 after buying an additional 91 shares in the last quarter. Gateway Investment Advisers LLC raised its position in shares of Jabil by 3.5% in the third quarter. Gateway Investment Advisers LLC now owns 3,139 shares of the technology company’s stock valued at $376,000 after buying an additional 105 shares in the last quarter. GAMMA Investing LLC raised 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. Finally, M&R Capital Management Inc. raised its position in shares of Jabil by 8.4% in the second quarter. M&R Capital Management Inc. now owns 1,380 shares of the technology company’s stock valued at $150,000 after buying an additional 107 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Jabil Stock Performance

NYSE JBL opened at $133.33 on Friday. The firm’s fifty day moving average price is $125.42 and its two-hundred day moving average price is $116.15. The stock has a market cap of $15.05 billion, a PE ratio of 12.10, a PEG ratio of 1.58 and a beta of 1.24. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $156.94. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.72 and a current ratio of 1.09.

Jabil (NYSE:JBL) last posted its earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.08. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The firm had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.59 billion. During the same quarter in the previous year, the firm posted $2.34 earnings per share. The company’s revenue was down 17.7% on a year-over-year basis. On average, equities analysts expect that Jabil Inc. will post 7.84 EPS for the current fiscal year.

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. Jabil’s dividend payout ratio is 2.90%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on JBL. StockNews.com upgraded shares of Jabil from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. 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 report on Friday, September 27th. Barclays boosted their price objective on shares of Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Stifel Nicolaus boosted their price objective on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Jabil currently has an average rating of “Moderate Buy” and an average target price of $143.50.

Insider Buying and Selling

In other Jabil news, EVP Frederic E. Mccoy sold 4,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $118.70, for a total transaction of $474,800.00. Following the sale, the executive vice president now owns 108,753 shares of the company’s stock, valued at approximately $12,908,981.10. This represents a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Matthew Crowley sold 1,380 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $125.83, for a total transaction of $173,645.40. Following the sale, the executive vice president now directly owns 18,568 shares in the company, valued at $2,336,411.44. This trade represents a 6.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,689 shares of company stock valued at $5,377,431 over the last 90 days. 2.62% of the stock is owned by insiders.

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).