CANADA LIFE ASSURANCE Co Buys 555 Shares of Jabil Inc. (NYSE:JBL)

CANADA LIFE ASSURANCE Co boosted its stake in Jabil Inc. (NYSE:JBL) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,616 shares of the technology company’s stock after acquiring an additional 555 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Jabil were worth $8,254,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Benjamin Edwards Inc. bought a new stake in shares of Jabil during the 1st quarter valued at $25,000. Activest Wealth Management bought a new stake in shares of Jabil during the 1st quarter valued at $28,000. ORG Partners LLC bought a new stake in shares of Jabil during the 1st quarter valued at $29,000. Alaska Permanent Fund Corp bought a new stake in shares of Jabil during the 4th quarter valued at $29,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Jabil during the 4th quarter valued at $32,000. Institutional investors own 93.39% of the company’s stock.

Analyst Upgrades and Downgrades

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

Jabil Price Performance

Shares of NYSE:JBL opened at $110.32 on Friday. Jabil Inc. has a fifty-two week low of $100.18 and a fifty-two week high of $156.94. The business has a 50-day simple moving average of $115.22 and a two-hundred day simple moving average of $125.65. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.74 and a current ratio of 1.13. The firm has a market cap of $12.51 billion, a price-to-earnings ratio of 10.04, a price-to-earnings-growth ratio of 1.98 and a beta of 1.27.

Jabil (NYSE:JBL) last issued 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 during the quarter, compared to analyst estimates of $6.53 billion. During the same quarter in the previous year, the firm earned $1.85 EPS. Jabil’s revenue was down 20.2% on a year-over-year basis. On average, analysts expect that Jabil Inc. will post 7.86 earnings per share for the current year.

Jabil Announces Dividend

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

Insiders Place Their Bets

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

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).