Eagle Asset Management Inc. Buys Shares of 45,349 Jabil Inc. (NYSE:JBL)

Eagle Asset Management Inc. bought a new stake in shares of Jabil Inc. (NYSE:JBL) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 45,349 shares of the technology company’s stock, valued at approximately $5,434,000.

Other large investors have also recently bought and sold shares of the company. Cetera Investment Advisers grew its holdings in Jabil by 141.7% during the 1st quarter. Cetera Investment Advisers now owns 17,350 shares of the technology company’s stock valued at $2,324,000 after buying an additional 10,173 shares during the last quarter. CCM Investment Advisers LLC lifted its stake in shares of Jabil by 6.0% during the 2nd quarter. CCM Investment Advisers LLC now owns 149,208 shares of the technology company’s stock worth $16,232,000 after purchasing an additional 8,405 shares during the period. Foster & Motley Inc. lifted its stake in shares of Jabil by 8.7% during the 3rd quarter. Foster & Motley Inc. now owns 52,173 shares of the technology company’s stock worth $6,252,000 after purchasing an additional 4,181 shares during the period. Comerica Bank lifted its stake in shares of Jabil by 68.5% during the 1st quarter. Comerica Bank now owns 42,709 shares of the technology company’s stock worth $5,721,000 after purchasing an additional 17,355 shares during the period. Finally, Nicola Wealth Management LTD. lifted its stake in shares of Jabil by 54.9% during the 3rd quarter. Nicola Wealth Management LTD. now owns 39,500 shares of the technology company’s stock worth $4,733,000 after purchasing an additional 14,000 shares during the period. Institutional investors and hedge funds own 93.39% of the company’s stock.

Analysts Set New Price Targets

JBL has been the topic of a number of recent analyst reports. Bank of America increased their price target on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Barclays increased their price target on Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Stifel Nicolaus increased their price target on Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, JPMorgan Chase & Co. cut their target price on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $143.50.

Jabil Stock Up 0.4 %

Shares of Jabil stock opened at $131.12 on Monday. The company has a market capitalization of $14.80 billion, a PE ratio of 11.90, a P/E/G ratio of 1.54 and a beta of 1.24. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $156.94. The business has a 50-day moving average of $123.82 and a 200-day moving average of $115.81. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72.

Jabil (NYSE:JBL) last posted its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.08. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.59 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The company’s revenue for the quarter was down 17.7% compared to the same quarter last year. During the same period last year, the firm earned $2.34 earnings per share. As a group, equities analysts forecast that Jabil Inc. will post 7.84 EPS for the current fiscal year.

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. Jabil’s dividend payout ratio (DPR) is 2.90%.

Insider Buying and Selling

In other Jabil news, EVP Matthew Crowley sold 1,380 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $125.83, for a total value of $173,645.40. Following the transaction, the executive vice president now owns 18,568 shares of the company’s stock, valued at $2,336,411.44. This trade represents a 6.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Frederic E. Mccoy sold 4,283 shares of Jabil stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $122.28, for a total value of $523,725.24. Following the sale, the executive vice president now directly owns 142,472 shares in the company, valued at approximately $17,421,476.16. This trade represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,689 shares of company stock worth $5,377,431. Corporate insiders own 2.62% of the company’s stock.

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).