Norges Bank Purchases Shares of 1,514,635 Jabil Inc. (NYSE:JBL)

Norges Bank purchased a new stake in Jabil Inc. (NYSE:JBL) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,514,635 shares of the technology company’s stock, valued at approximately $192,964,000.

A number of other large investors have also recently bought and sold shares of the stock. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Jabil in the fourth quarter valued at $581,000. Kentucky Retirement Systems acquired a new position in shares of Jabil during the fourth quarter valued at $1,304,000. Navellier & Associates Inc. acquired a new position in shares of Jabil during the fourth quarter valued at $203,000. Beacon Pointe Advisors LLC lifted its stake in shares of Jabil by 2.5% during the fourth quarter. Beacon Pointe Advisors LLC now owns 3,377 shares of the technology company’s stock valued at $430,000 after acquiring an additional 83 shares during the period. Finally, Inceptionr LLC lifted its stake in shares of Jabil by 29.6% during the fourth quarter. Inceptionr LLC now owns 2,471 shares of the technology company’s stock valued at $315,000 after acquiring an additional 564 shares during the period. 93.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Jabil news, SVP May Yee Yap sold 7,877 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $139.65, for a total transaction of $1,100,023.05. Following the transaction, the senior vice president now owns 29,006 shares in the company, valued at approximately $4,050,687.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Gerald Creadon sold 3,000 shares of Jabil stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $135.62, for a total value of $406,860.00. Following the transaction, the executive vice president now owns 65,434 shares in the company, valued at approximately $8,874,159.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP May Yee Yap sold 7,877 shares of Jabil stock in a transaction on Monday, April 8th. The shares were sold at an average price of $139.65, for a total value of $1,100,023.05. Following the completion of the transaction, the senior vice president now owns 29,006 shares in the company, valued at approximately $4,050,687.90. The disclosure for this sale can be found here. Insiders have sold a total of 75,877 shares of company stock worth $9,824,383 in the last 90 days. Company insiders own 2.62% of the company’s stock.

Jabil Stock Performance

NYSE:JBL opened at $118.22 on Thursday. The stock has a market cap of $14.26 billion, a P/E ratio of 10.15, a PEG ratio of 1.46 and a beta of 1.42. The stock has a 50 day simple moving average of $125.94 and a 200 day simple moving average of $129.31. 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 Inc. has a 1-year low of $83.64 and a 1-year high of $156.94.

Jabil (NYSE:JBL) last released 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 firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.91 billion. Jabil had a return on equity of 39.47% and a net margin of 4.70%. Research analysts anticipate that Jabil Inc. will post 7.83 earnings per share for the current year.

Jabil Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. The Goldman Sachs Group increased 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. StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Argus downgraded Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Barclays lowered their price target on Jabil from $151.00 to $149.00 and set an “overweight” rating for the company in a report on Monday, March 18th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $144.50.

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).