Victory Capital Management Inc. Acquires 6,007 Shares of Jabil Inc. (NYSE:JBL)

Victory Capital Management Inc. increased its position in shares of Jabil Inc. (NYSE:JBLGet Rating) by 1.1% during the third quarter, Holdings Channel reports. The institutional investor owned 553,967 shares of the technology company’s stock after purchasing an additional 6,007 shares during the quarter. Victory Capital Management Inc.’s holdings in Jabil were worth $31,970,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Rockland Trust Co. acquired a new stake in Jabil during the third quarter worth about $232,000. Nisa Investment Advisors LLC grew its position in Jabil by 154.8% during the second quarter. Nisa Investment Advisors LLC now owns 93,522 shares of the technology company’s stock worth $4,789,000 after buying an additional 56,822 shares in the last quarter. Martingale Asset Management L P grew its position in Jabil by 1.1% during the second quarter. Martingale Asset Management L P now owns 27,581 shares of the technology company’s stock worth $1,413,000 after buying an additional 307 shares in the last quarter. Great West Life Assurance Co. Can grew its position in Jabil by 7.8% during the third quarter. Great West Life Assurance Co. Can now owns 99,896 shares of the technology company’s stock worth $5,762,000 after buying an additional 7,211 shares in the last quarter. Finally, Aviva PLC acquired a new stake in Jabil during the second quarter worth about $2,578,000. 88.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

JBL has been the topic of a number of recent research reports. UBS Group started coverage on Jabil in a research report on Tuesday, December 13th. They set a “neutral” rating and a $76.00 target price on the stock. StockNews.com started coverage on Jabil in a report on Wednesday, October 12th. They set a “strong-buy” rating on the stock. Credit Suisse Group lifted their price objective on Jabil from $81.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, January 18th. Citigroup lifted their price objective on Jabil from $80.00 to $85.00 in a report on Friday, December 16th. Finally, Raymond James decreased their price objective on Jabil from $80.00 to $72.00 in a report on Wednesday, September 28th. One research analyst has rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $78.40.

Jabil Stock Performance

JBL stock opened at $79.42 on Monday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.02 and a quick ratio of 0.57. The company has a 50 day moving average price of $70.81 and a 200 day moving average price of $63.60. Jabil Inc. has a fifty-two week low of $48.80 and a fifty-two week high of $79.67. The stock has a market capitalization of $10.58 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 0.85 and a beta of 1.37.

Jabil (NYSE:JBLGet Rating) last issued its earnings results on Thursday, December 15th. The technology company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.28). The business had revenue of $9.64 billion for the quarter, compared to the consensus estimate of $9.28 billion. Jabil had a net margin of 2.83% and a return on equity of 40.43%. Analysts forecast that Jabil Inc. will post 7.81 EPS for the current year.

Jabil declared that its Board of Directors has authorized a share buyback program on Tuesday, September 27th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to purchase up to 12.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, SVP Francis Mckay sold 7,979 shares of the business’s stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $64.11, for a total value of $511,533.69. Following the completion of the transaction, the senior vice president now owns 53,781 shares of the company’s stock, valued at approximately $3,447,899.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Daryn G. Smith sold 17,618 shares of the company’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $65.96, for a total value of $1,162,083.28. Following the completion of the transaction, the senior vice president now directly owns 60,819 shares of the company’s stock, valued at approximately $4,011,621.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Francis Mckay sold 7,979 shares of the company’s stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $64.11, for a total transaction of $511,533.69. Following the completion of the transaction, the senior vice president now directly owns 53,781 shares of the company’s stock, valued at $3,447,899.91. The disclosure for this sale can be found here. Insiders sold 230,422 shares of company stock valued at $16,581,575 in the last quarter. Company insiders own 2.75% of the company’s stock.

Jabil Company Profile

(Get Rating)

Jabil, Inc engages in the provision of electronic manufacturing services and solutions. It offers electronics design, production, product management, and repair services to companies in the automotive and transportation, capital equipment, consumer lifestyles and wearable technologies, computing and storage, defense and aerospace, digital home, healthcare, industrial and energy, mobility, networking and telecommunications, packaging, point of sale, and printing industries.

Further Reading

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Institutional Ownership by Quarter for Jabil (NYSE:JBL)

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