Jabil Inc. (NYSE:JBL) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its position in Jabil Inc. (NYSE:JBL) by 23.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,895 shares of the technology company’s stock after purchasing an additional 17,411 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of Jabil worth $11,012,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of JBL. Qsemble Capital Management LP purchased a new stake in Jabil during the 3rd quarter worth about $3,896,000. Daiwa Securities Group Inc. raised its position in shares of Jabil by 2.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 13,833 shares of the technology company’s stock worth $1,658,000 after acquiring an additional 384 shares in the last quarter. Larson Financial Group LLC lifted its stake in Jabil by 45.0% during the third quarter. Larson Financial Group LLC now owns 2,444 shares of the technology company’s stock worth $293,000 after purchasing an additional 758 shares during the last quarter. AlphaCore Capital LLC boosted its holdings in Jabil by 4.7% in the third quarter. AlphaCore Capital LLC now owns 3,145 shares of the technology company’s stock valued at $377,000 after purchasing an additional 141 shares in the last quarter. Finally, Eagle Asset Management Inc. purchased a new position in Jabil in the third quarter valued at approximately $5,434,000. 93.39% of the stock is owned by hedge funds and other institutional investors.

Jabil Stock Performance

Shares of JBL stock opened at $135.19 on Tuesday. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $156.94. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. The stock’s 50-day moving average price is $126.30 and its 200 day moving average price is $116.39. The stock has a market capitalization of $15.26 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 1.60 and a beta of 1.24.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $6.59 billion. During the same quarter last year, the firm earned $2.34 earnings per share. The firm’s revenue was down 17.7% compared to the same quarter last year. As a group, equities research analysts forecast that Jabil Inc. will post 7.84 EPS for the current year.

Jabil Dividend Announcement

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

Wall Street Analyst Weigh In

JBL has been the subject of several research analyst reports. Bank of America upped their target price on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 27th. JPMorgan Chase & Co. decreased their price objective on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. StockNews.com upgraded Jabil from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. Barclays upped their target price on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Finally, Stifel Nicolaus lifted their price target on Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Two equities 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 stock. According to MarketBeat.com, Jabil presently has an average rating of “Moderate Buy” and a consensus target price of $143.50.

Insider Buying and Selling

In related news, Director Steven A. Raymund sold 20,000 shares of Jabil stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $124.70, for a total value of $2,494,000.00. Following the completion of the transaction, the director now directly owns 139,108 shares in the company, valued at approximately $17,346,767.60. This trade represents a 12.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Frederic E. Mccoy sold 4,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $118.70, for a total value of $474,800.00. Following the transaction, the executive vice president now owns 108,753 shares in the company, valued at $12,908,981.10. This trade represents a 3.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,689 shares of company stock valued at $5,377,431 in the last quarter. Company 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).