Plato Investment Management Ltd Purchases New Shares in Jabil Inc. (NYSE:JBL)

Plato Investment Management Ltd purchased a new stake in Jabil Inc. (NYSE:JBL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,033 shares of the technology company’s stock, valued at approximately $363,000.

Other hedge funds have also recently bought and sold shares of the company. HHM Wealth Advisors LLC acquired a new position in Jabil in the second quarter worth $28,000. Innealta Capital LLC acquired a new position in Jabil in the second quarter valued at approximately $31,000. Capital Performance Advisors LLP bought a new position in shares of Jabil during the third quarter valued at approximately $32,000. Family Firm Inc. acquired a new stake in shares of Jabil during the 2nd quarter worth approximately $37,000. Finally, Matrix Trust Co lifted its stake in Jabil by 135.4% in the third quarter. Matrix Trust Co now owns 372 shares of the technology company’s stock valued at $45,000 after buying an additional 214 shares during the last quarter. Institutional investors and hedge funds own 93.39% of the company’s stock.

Analyst Ratings Changes

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

Jabil Price Performance

Shares of JBL opened at $128.26 on Friday. The business’s 50-day moving average is $121.26 and its 200-day moving average is $115.40. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $156.94. The company has a market capitalization of $14.47 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 1.55 and a beta of 1.24. 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 released its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.08. Jabil had a net margin of 4.81% and a return on equity of 42.64%. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.59 billion. During the same quarter in the previous year, the business earned $2.34 EPS. Jabil’s quarterly revenue was down 17.7% compared to the same quarter last year. Equities research analysts expect that Jabil Inc. will post 7.84 EPS for the current fiscal year.

Jabil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be paid a $0.08 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.25%. Jabil’s payout ratio is 2.90%.

Insider Buying and Selling at Jabil

In other Jabil news, SVP Francis Mckay sold 11,755 shares of Jabil stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $121.71, for a total transaction of $1,430,701.05. Following the sale, the senior vice president now owns 41,507 shares in the company, valued at $5,051,816.97. The trade was a 22.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Matthew Crowley sold 1,380 shares of Jabil stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $125.83, for a total transaction of $173,645.40. Following the sale, the executive vice president now owns 18,568 shares in the company, valued at approximately $2,336,411.44. This trade represents a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,689 shares of company stock valued at $5,377,431 in the last ninety days. Company 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).