State of New Jersey Common Pension Fund D Increases Stock Position in Jabil Inc. (NYSE:JBL)

State of New Jersey Common Pension Fund D raised its holdings in Jabil Inc. (NYSE:JBL) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,654 shares of the technology company’s stock after purchasing an additional 2,148 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of Jabil worth $9,256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in JBL. FMR LLC boosted its stake in shares of Jabil by 15.9% during the 3rd quarter. FMR LLC now owns 10,525,084 shares of the technology company’s stock worth $1,335,528,000 after acquiring an additional 1,440,857 shares in the last quarter. Artisan Partners Limited Partnership purchased a new stake in shares of Jabil during the 3rd quarter worth approximately $124,319,000. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Jabil during the 3rd quarter worth approximately $57,818,000. Ceredex Value Advisors LLC boosted its stake in shares of Jabil by 72,212.5% during the 4th quarter. Ceredex Value Advisors LLC now owns 289,250 shares of the technology company’s stock worth $36,850,000 after acquiring an additional 288,850 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Jabil during the 3rd quarter worth approximately $35,172,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Insider Transactions at Jabil

In other news, Chairman Mark T. Mondello sold 50,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $126.09, for a total transaction of $6,304,500.00. Following the completion of the sale, the chairman now directly owns 1,809,194 shares in the company, valued at approximately $228,121,271.46. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Kenneth S. Wilson sold 15,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $134.20, for a total value of $2,013,000.00. Following the completion of the sale, the chief executive officer now directly owns 339,725 shares in the company, valued at approximately $45,591,095. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark T. Mondello sold 50,000 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $126.09, for a total value of $6,304,500.00. Following the completion of the sale, the chairman now owns 1,809,194 shares of the company’s stock, valued at $228,121,271.46. The disclosure for this sale can be found here. Insiders sold a total of 107,177 shares of company stock worth $13,678,039 in the last ninety days. Insiders own 2.62% of the company’s stock.

Wall Street Analysts Forecast Growth

JBL has been the topic of several research analyst reports. Barclays decreased their price target on Jabil from $151.00 to $149.00 and set an “overweight” rating on the stock in a research note on Monday, March 18th. Argus lowered Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, The Goldman Sachs Group upped their target price on Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, March 4th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $144.50.

Jabil Trading Down 1.5 %

JBL traded down $1.76 during trading on Thursday, hitting $118.48. The company’s stock had a trading volume of 2,132,470 shares, compared to its average volume of 1,369,541. The firm’s 50 day moving average price is $136.83 and its 200-day moving average price is $130.95. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.17 and a quick ratio of 0.72. The stock has a market cap of $14.29 billion, a PE ratio of 10.17, a PEG ratio of 1.29 and a beta of 1.40. Jabil Inc. has a twelve month low of $75.48 and a twelve month high of $156.94.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Friday, March 15th. The technology company reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.01). The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.91 billion. Jabil had a net margin of 4.70% and a return on equity of 39.47%. On average, analysts expect that Jabil Inc. will post 7.83 earnings per share for the current year.

Jabil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. Jabil’s payout ratio is 2.75%.

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).