Jabil Inc. (NYSE:JBL) Stock Position Increased by Primecap Management Co. CA

Primecap Management Co. CA boosted its position in Jabil Inc. (NYSE:JBL) by 3.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,682,875 shares of the technology company’s stock after purchasing an additional 107,800 shares during the quarter. Primecap Management Co. CA owned about 3.25% of Jabil worth $400,660,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Benjamin Edwards Inc. bought a new stake in shares of Jabil during the 1st quarter worth about $25,000. ORG Partners LLC bought a new stake in shares of Jabil during the 1st quarter worth about $29,000. Riverview Trust Co bought a new stake in shares of Jabil during the 1st quarter worth about $33,000. HHM Wealth Advisors LLC bought a new stake in shares of Jabil during the 2nd quarter worth about $28,000. Finally, Innealta Capital LLC bought a new stake in shares of Jabil during the 2nd quarter worth about $31,000. 93.39% of the stock is currently owned by institutional investors.

Jabil Stock Performance

Jabil stock opened at $105.72 on Tuesday. The firm’s 50 day simple moving average is $107.35 and its 200-day simple moving average is $118.55. The company has a market cap of $11.99 billion, a P/E ratio of 9.62, a price-to-earnings-growth ratio of 1.75 and a beta of 1.25. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.74. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $156.94.

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

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend was Thursday, August 15th. Jabil’s payout ratio is presently 2.91%.

Wall Street Analyst Weigh In

JBL has been the topic of a number of recent analyst reports. UBS Group dropped their price target on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, June 21st. Barclays lowered their price objective on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Bank of America lowered their price objective on shares of Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Two investment analysts have 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.13.

Insider Activity at Jabil

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

Jabil 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).