Brandywine Global Investment Management LLC Grows Stock Position in Jabil Inc. (NYSE:JBL)

Brandywine Global Investment Management LLC grew its position in shares of Jabil Inc. (NYSE:JBL) by 38.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 219,161 shares of the technology company’s stock after purchasing an additional 60,578 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Jabil were worth $31,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Meyer Handelman Co. bought a new position in Jabil during the fourth quarter worth about $7,334,000. Davis Investment Partners LLC bought a new position in Jabil in the 4th quarter worth approximately $1,433,000. Truist Financial Corp grew its stake in Jabil by 50.4% in the 4th quarter. Truist Financial Corp now owns 12,037 shares of the technology company’s stock valued at $1,732,000 after buying an additional 4,034 shares in the last quarter. Merit Financial Group LLC bought a new stake in Jabil during the 4th quarter valued at $235,000. Finally, Keybank National Association OH purchased a new stake in shares of Jabil during the fourth quarter worth $214,000. Institutional investors own 93.39% of the company’s stock.

Analysts Set New Price Targets

JBL has been the subject of several recent research reports. The Goldman Sachs Group lifted their price target on Jabil from $160.00 to $179.00 and gave the company a “buy” rating in a research report on Monday, February 24th. JPMorgan Chase & Co. upped their price target on Jabil from $172.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. StockNews.com raised shares of Jabil from a “hold” rating to a “buy” rating in a report on Friday, March 21st. Barclays boosted their price objective on shares of Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Finally, UBS Group increased their target price on shares of Jabil from $152.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Jabil has a consensus rating of “Moderate Buy” and an average price target of $167.50.

Insider Buying and Selling at Jabil

In other Jabil news, EVP Frederic E. Mccoy sold 4,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $149.81, for a total transaction of $599,240.00. Following the transaction, the executive vice president now directly owns 138,472 shares in the company, valued at $20,744,490.32. This trade represents a 2.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven A. Raymund sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $151.30, for a total transaction of $3,026,000.00. Following the completion of the sale, the director now owns 119,108 shares of the company’s stock, valued at approximately $18,021,040.40. The trade was a 14.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,400 shares of company stock worth $12,804,458 over the last 90 days. Corporate insiders own 1.73% of the company’s stock.

Jabil Stock Performance

Shares of JBL opened at $135.97 on Monday. Jabil Inc. has a 12-month low of $95.85 and a 12-month high of $174.80. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. The company has a market cap of $14.84 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.65 and a beta of 1.19. The stock has a 50-day moving average price of $154.45 and a 200-day moving average price of $139.84.

Jabil (NYSE:JBL) last announced its earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.11. The business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.40 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. Jabil’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the business posted $1.68 earnings per share. As a group, equities analysts forecast that Jabil Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a $0.08 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. Jabil’s dividend payout ratio is presently 7.66%.

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).