Everence Capital Management Inc. Takes $307,000 Position in Jabil Inc. (NYSE:JBL)

Everence Capital Management Inc. purchased a new stake in shares of Jabil Inc. (NYSE:JBL) during the 4th quarter, Holdings Channel reports. The fund purchased 2,130 shares of the technology company’s stock, valued at approximately $307,000.

Several other hedge funds have also added to or reduced their stakes in the company. Nicola Wealth Management LTD. lifted its position in Jabil by 54.9% during the 3rd quarter. Nicola Wealth Management LTD. now owns 39,500 shares of the technology company’s stock valued at $4,733,000 after purchasing an additional 14,000 shares during the period. Foster & Motley Inc. lifted its holdings in Jabil by 8.7% in the third quarter. Foster & Motley Inc. now owns 52,173 shares of the technology company’s stock valued at $6,252,000 after buying an additional 4,181 shares during the period. Empowered Funds LLC boosted its stake in Jabil by 11.8% in the third quarter. Empowered Funds LLC now owns 145,682 shares of the technology company’s stock valued at $17,457,000 after acquiring an additional 15,413 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Jabil by 58.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 192,815 shares of the technology company’s stock worth $23,105,000 after acquiring an additional 71,292 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Jabil by 51.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,107 shares of the technology company’s stock valued at $2,514,000 after acquiring an additional 7,878 shares during the last quarter. Institutional investors own 93.39% of the company’s stock.

Jabil Stock Up 0.6 %

NYSE:JBL opened at $152.90 on Wednesday. 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 Inc. has a 52-week low of $95.85 and a 52-week high of $156.94. The company has a market cap of $17.08 billion, a PE ratio of 13.87, a PEG ratio of 1.58 and a beta of 1.23. The stock has a 50-day simple moving average of $136.48 and a 200 day simple moving average of $120.73.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Wednesday, December 18th. The technology company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.12. The company had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $6.61 billion. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The company’s quarterly revenue was down 16.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.60 EPS. On average, sell-side analysts expect that Jabil Inc. will post 7.89 EPS for the current fiscal year.

Jabil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.32 annualized dividend and a yield of 0.21%. Jabil’s dividend payout ratio is 3.07%.

Analyst Ratings Changes

A number of brokerages have issued reports on JBL. Barclays raised their target price on Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. StockNews.com cut shares of Jabil from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 19th. Bank of America raised their price objective on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Stifel Nicolaus reiterated a “buy” rating and issued a $160.00 price objective (up from $150.00) on shares of Jabil in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group raised their target price on shares of Jabil from $136.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $153.17.

Insider Activity at Jabil

In other news, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $124.70, for a total transaction of $2,494,000.00. Following the completion of the sale, the director now owns 139,108 shares in the company, valued at approximately $17,346,767.60. This trade represents a 12.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Francis Mckay sold 11,755 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the completion of the transaction, the senior vice president now directly owns 41,507 shares in the company, valued at approximately $5,051,816.97. This represents a 22.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,689 shares of company stock worth $5,501,871. Company insiders own 1.73% 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).