Meeder Asset Management Inc. Acquires 3,224 Shares of Jabil Inc. (NYSE:JBL)

Meeder Asset Management Inc. boosted its position in Jabil Inc. (NYSE:JBL) by 37.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,859 shares of the technology company’s stock after acquiring an additional 3,224 shares during the quarter. Meeder Asset Management Inc.’s holdings in Jabil were worth $1,707,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Jabil by 70,781.4% during the fourth quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company’s stock valued at $835,876,000 after acquiring an additional 5,800,535 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Jabil by 18.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company’s stock valued at $270,187,000 after purchasing an additional 288,806 shares during the last quarter. Norges Bank bought a new stake in Jabil in the fourth quarter worth $218,430,000. Charles Schwab Investment Management Inc. increased its stake in Jabil by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,045,213 shares of the technology company’s stock valued at $150,406,000 after purchasing an additional 10,541 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Jabil by 15.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 903,526 shares of the technology company’s stock worth $108,270,000 after acquiring an additional 118,376 shares during the last quarter. 93.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Jabil Stock Performance

Shares of JBL opened at $135.97 on Monday. Jabil Inc. has a one year low of $95.85 and a one year high of $174.80. The stock has a 50-day moving average of $154.45 and a two-hundred day moving average of $139.84. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. The stock has a market cap of $14.84 billion, a P/E ratio of 13.04, a P/E/G ratio of 1.65 and a beta of 1.19.

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

Jabil Announces Dividend

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

Insider Buying and Selling

In other news, EVP Frederic E. Mccoy sold 4,000 shares of Jabil stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $149.81, for a total value of $599,240.00. Following the completion of the transaction, the executive vice president now owns 138,472 shares in the company, valued at approximately $20,744,490.32. This trade represents a 2.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John C. Plant sold 50,000 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $172.55, for a total transaction of $8,627,500.00. Following the transaction, the director now owns 5,900 shares of the company’s stock, valued at approximately $1,018,045. The trade was a 89.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,400 shares of company stock worth $12,804,458. Insiders own 1.73% 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).