Fifth Third Bancorp Increases Position in Jabil Inc. (NYSE:JBL)

Fifth Third Bancorp lifted its position in shares of Jabil Inc. (NYSE:JBLFree Report) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,034 shares of the technology company’s stock after purchasing an additional 397 shares during the period. Fifth Third Bancorp’s holdings in Jabil were worth $580,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. lifted its holdings in Jabil by 12,251.7% during the 3rd quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock worth $264,391,000 after buying an additional 2,188,521 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of Jabil by 406.5% during the 3rd quarter. Two Sigma Advisers LP now owns 722,800 shares of the technology company’s stock worth $86,613,000 after acquiring an additional 580,100 shares in the last quarter. FMR LLC boosted its holdings in Jabil by 11.3% in the third quarter. FMR LLC now owns 5,116,308 shares of the technology company’s stock valued at $613,087,000 after purchasing an additional 520,672 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in Jabil by 595.5% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 343,137 shares of the technology company’s stock valued at $41,118,000 after purchasing an additional 293,801 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC increased its stake in Jabil by 29.0% in the third quarter. Worldquant Millennium Advisors LLC now owns 574,938 shares of the technology company’s stock valued at $68,895,000 after purchasing an additional 129,400 shares during the last quarter. Institutional investors and hedge funds own 93.39% of the company’s stock.

Wall Street Analyst Weigh In

JBL has been the subject of several research analyst reports. UBS Group upped their target price on shares of Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. The Goldman Sachs Group upped their price objective on shares of Jabil from $136.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Barclays lifted their target price on Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Stifel Nicolaus restated a “buy” rating and set a $160.00 price target (up previously from $150.00) on shares of Jabil in a research note on Thursday, December 19th. Finally, StockNews.com lowered Jabil from a “buy” rating to a “hold” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Jabil has a consensus rating of “Moderate Buy” and a consensus target price of $153.17.

Check Out Our Latest Stock Report on Jabil

Insider Transactions at Jabil

In other Jabil news, Director Steven A. Raymund sold 20,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $151.30, for a total value of $3,026,000.00. Following the completion of the transaction, the director now owns 119,108 shares in the company, valued at approximately $18,021,040.40. This represents a 14.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Frederic E. Mccoy sold 4,000 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $149.81, for a total transaction of $599,240.00. Following the sale, the executive vice president now owns 138,472 shares in the company, valued at $20,744,490.32. The trade was a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 74,000 shares of company stock worth $12,252,740 over the last ninety days. 1.73% of the stock is currently owned by company insiders.

Jabil Stock Performance

Shares of JBL stock opened at $162.54 on Friday. The stock’s 50-day moving average price is $147.07 and its 200 day moving average price is $126.54. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $17.75 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 1.68 and a beta of 1.23. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $174.80.

Jabil (NYSE:JBLGet Free Report) last released its earnings results on Wednesday, December 18th. The technology company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.12. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The business had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.61 billion. During the same quarter in the previous year, the company posted $2.60 earnings per share. The company’s revenue for the quarter was down 16.6% compared to the same quarter last year. As a group, equities research analysts forecast that Jabil Inc. will post 8.03 EPS for the current year.

Jabil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend is Tuesday, February 18th. Jabil’s payout ratio is 3.07%.

Jabil Company Profile

(Free Report)

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).

Further Reading

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Institutional Ownership by Quarter for Jabil (NYSE:JBL)

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