Primecap Management Co. CA Reduces Stake in Jabil Inc. (NYSE:JBL)

Primecap Management Co. CA lowered its holdings in Jabil Inc. (NYSE:JBL) by 3.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,572,660 shares of the technology company’s stock after selling 119,900 shares during the quarter. Primecap Management Co. CA owned about 3.27% of Jabil worth $514,106,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in JBL. CIBC Asset Management Inc increased its holdings in shares of Jabil by 2.8% in the 3rd quarter. CIBC Asset Management Inc now owns 16,689 shares of the technology company’s stock valued at $2,000,000 after acquiring an additional 462 shares during the last quarter. Royce & Associates LP increased its holdings in shares of Jabil by 1.1% in the 3rd quarter. Royce & Associates LP now owns 74,020 shares of the technology company’s stock valued at $8,870,000 after acquiring an additional 786 shares during the last quarter. Empirical Finance LLC increased its holdings in shares of Jabil by 5.6% in the 3rd quarter. Empirical Finance LLC now owns 5,641 shares of the technology company’s stock valued at $676,000 after acquiring an additional 297 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Jabil by 72.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 8,635 shares of the technology company’s stock valued at $1,035,000 after acquiring an additional 3,628 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Jabil in the 3rd quarter valued at about $365,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on JBL. Stifel Nicolaus reissued a “buy” rating and issued a $160.00 target price (up from $150.00) on shares of Jabil in a research report on Thursday, December 19th. StockNews.com cut Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. UBS Group upped their target price on Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. The Goldman Sachs Group upped their target price on Jabil from $160.00 to $179.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Finally, Barclays upped their target price on Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $158.83.

Jabil Stock Up 1.7 %

Jabil stock opened at $138.29 on Tuesday. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $174.80. The stock has a 50 day moving average of $156.99 and a two-hundred day moving average of $137.42. 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 stock has a market capitalization of $15.10 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 1.65 and a beta of 1.19.

Jabil (NYSE:JBL) last posted its quarterly earnings results on Wednesday, December 18th. The technology company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.88 by $0.12. The business had revenue of $6.99 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The company’s quarterly revenue was down 16.6% compared to the same quarter last year. During the same period last year, the firm earned $2.60 EPS. As a group, research analysts expect that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.23%. Jabil’s dividend payout ratio is currently 3.07%.

Insider Activity

In other Jabil news, EVP Frederic E. Mccoy sold 4,000 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $149.81, for a total transaction of $599,240.00. Following the completion of the transaction, the executive vice president now owns 138,472 shares of the company’s stock, valued at approximately $20,744,490.32. This trade represents a 2.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $151.30, for a total value of $3,026,000.00. Following the transaction, the director now directly owns 119,108 shares of the company’s stock, valued at $18,021,040.40. The trade was a 14.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,400 shares of company stock valued at $12,804,458 in the last three months. 1.73% of the stock is currently owned by company insiders.

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).