Mackenzie Financial Corp Acquires 90 Shares of Jabil Inc. (NYSE:JBL)

Mackenzie Financial Corp lifted its holdings in Jabil Inc. (NYSE:JBL) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,258 shares of the technology company’s stock after acquiring an additional 90 shares during the period. Mackenzie Financial Corp’s holdings in Jabil were worth $1,307,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. FMR LLC boosted its stake in Jabil by 15.9% during the 3rd quarter. FMR LLC now owns 10,525,084 shares of the technology company’s stock valued at $1,335,528,000 after purchasing an additional 1,440,857 shares during the last quarter. Artisan Partners Limited Partnership acquired a new position in Jabil during the 3rd quarter valued at about $124,319,000. Caisse DE Depot ET Placement DU Quebec acquired a new position in Jabil during the 3rd quarter valued at about $57,818,000. Ceredex Value Advisors LLC boosted its stake in Jabil by 72,212.5% during the 4th quarter. Ceredex Value Advisors LLC now owns 289,250 shares of the technology company’s stock valued at $36,850,000 after purchasing an additional 288,850 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Jabil during the 3rd quarter valued at about $35,172,000. 93.39% of the stock is owned by institutional investors.

Jabil Price Performance

Shares of NYSE JBL opened at $120.24 on Thursday. The stock has a fifty day simple moving average of $136.83 and a two-hundred day simple moving average of $130.95. Jabil Inc. has a 1-year low of $75.48 and a 1-year high of $156.94. The firm has a market cap of $14.50 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 1.27 and a beta of 1.40. The company has a current ratio of 1.17, a quick ratio of 0.72 and a debt-to-equity ratio of 1.08.

Jabil (NYSE:JBL) last posted its earnings results on Friday, March 15th. The technology company reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.01). The company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.91 billion. Jabil had a return on equity of 39.47% and a net margin of 4.70%. Analysts anticipate that Jabil Inc. will post 7.83 earnings per share for the current year.

Jabil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, May 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. Jabil’s dividend payout ratio is currently 2.75%.

Insiders Place Their Bets

In other Jabil 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 transaction of $2,013,000.00. Following the sale, the chief executive officer now owns 339,725 shares in the company, valued at $45,591,095. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director David M. Stout sold 31,300 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $123.12, for a total value of $3,853,656.00. Following the sale, the director now owns 67,300 shares in the company, valued at $8,285,976. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 owns 339,725 shares in the company, valued at approximately $45,591,095. The disclosure for this sale can be found here. Insiders have sold a total of 107,177 shares of company stock worth $13,678,039 over the last 90 days. Corporate insiders own 2.62% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on JBL shares. StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a research note on Tuesday. The Goldman Sachs Group boosted their target price on Jabil from $141.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Barclays cut their target price on Jabil from $151.00 to $149.00 and set an “overweight” rating on the stock in a research note on Monday, March 18th. Finally, Argus downgraded Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $144.50.

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).