Westfield Capital Management Co. LP Makes New Investment in Jabil Inc. (NYSE:JBL)

Westfield Capital Management Co. LP bought a new position in shares of Jabil Inc. (NYSE:JBL) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 291,456 shares of the technology company’s stock, valued at approximately $39,040,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in JBL. Norges Bank bought a new position in Jabil during the fourth quarter worth about $192,964,000. Vanguard Group Inc. lifted its holdings in shares of Jabil by 10.5% in the fourth quarter. Vanguard Group Inc. now owns 15,070,238 shares of the technology company’s stock valued at $1,919,948,000 after purchasing an additional 1,427,429 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Jabil by 36.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,339,559 shares of the technology company’s stock valued at $170,660,000 after purchasing an additional 359,818 shares in the last quarter. Ceredex Value Advisors LLC lifted its holdings in shares of Jabil by 72,212.5% in the fourth 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Jabil by 29.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,111,281 shares of the technology company’s stock valued at $141,577,000 after purchasing an additional 249,889 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors.

Jabil Stock Performance

Shares of JBL stock traded down $1.68 during trading on Friday, reaching $110.54. 1,102,221 shares of the company’s stock were exchanged, compared to its average volume of 1,762,824. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $12.54 billion, a PE ratio of 10.06, a PEG ratio of 1.97 and a beta of 1.27. Jabil Inc. has a twelve month low of $100.18 and a twelve month high of $156.94. The firm’s fifty day moving average price is $115.61 and its 200-day moving average price is $126.05.

Jabil (NYSE:JBL) last posted its earnings results on Thursday, June 20th. The technology company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.53 billion. During the same period in the previous year, the firm earned $1.85 EPS. The firm’s revenue was down 20.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Jabil Inc. will post 7.86 EPS for the current year.

Jabil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Thursday, August 15th. Jabil’s dividend payout ratio is 2.91%.

Insider Buying and Selling at Jabil

In other Jabil news, EVP Frederic E. Mccoy sold 1,250 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $116.42, for a total value of $145,525.00. Following the transaction, the executive vice president now directly owns 112,753 shares of the company’s stock, valued at approximately $13,126,704.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Frederic E. Mccoy sold 1,250 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $116.42, for a total transaction of $145,525.00. Following the completion of the sale, the executive vice president now directly owns 112,753 shares in the company, valued at approximately $13,126,704.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP May Yee Yap sold 4,274 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total value of $500,228.96. Following the sale, the senior vice president now owns 24,829 shares of the company’s stock, valued at $2,905,986.16. The disclosure for this sale can be found here. Insiders own 2.62% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. UBS Group cut their price target on Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, June 21st. JPMorgan Chase & Co. cut their price target on Jabil from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, June 17th. Barclays dropped their target price on Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Finally, Bank of America lowered their price target on Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a research report on Friday, June 21st. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $142.63.

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).