Everence Capital Management Inc. Takes $380,000 Position in Jabil Inc. (NYSE:JBL)

Everence Capital Management Inc. acquired a new stake in Jabil Inc. (NYSE:JBL) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,980 shares of the technology company’s stock, valued at approximately $380,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in Jabil by 71.2% during the first quarter. JPMorgan Chase & Co. now owns 6,232,495 shares of the technology company’s stock valued at $549,457,000 after purchasing an additional 2,591,893 shares during the last quarter. Norges Bank acquired a new stake in Jabil during the fourth quarter valued at approximately $102,656,000. FMR LLC lifted its stake in Jabil by 15.9% during the third quarter. FMR LLC now owns 10,525,084 shares of the technology company’s stock valued at $1,335,528,000 after purchasing an additional 1,440,857 shares during the last quarter. Invesco Ltd. lifted its stake in Jabil by 230.6% during the first quarter. Invesco Ltd. now owns 1,863,230 shares of the technology company’s stock valued at $115,018,000 after purchasing an additional 1,299,593 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Jabil by 1,610.7% during the first quarter. Envestnet Asset Management Inc. now owns 1,198,451 shares of the technology company’s stock valued at $6,215,000 after purchasing an additional 1,128,393 shares during the last quarter. 93.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Jabil news, SVP May Yee Yap sold 7,877 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $139.65, for a total value of $1,100,023.05. Following the sale, the senior vice president now directly owns 29,006 shares in the company, valued at approximately $4,050,687.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP May Yee Yap sold 7,877 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $139.65, for a total transaction of $1,100,023.05. Following the completion of the transaction, the senior vice president now directly owns 29,006 shares of the company’s stock, valued at approximately $4,050,687.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David M. Stout sold 31,300 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $123.12, for a total transaction of $3,853,656.00. Following the transaction, the director now directly owns 67,300 shares of the company’s stock, valued at $8,285,976. The disclosure for this sale can be found here. Insiders have sold 107,177 shares of company stock worth $13,678,039 in the last ninety days. Insiders own 2.62% of the company’s stock.

Analyst Upgrades and Downgrades

JBL has been the subject of several research analyst reports. The Goldman Sachs Group upped their price target on shares of Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, March 4th. StockNews.com downgraded shares of Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, March 26th. Argus downgraded shares of Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Barclays cut their target price on shares of Jabil from $151.00 to $149.00 and set an “overweight” rating for the company in a research report on Monday, March 18th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Jabil currently has a consensus rating of “Moderate Buy” and an average price target of $144.50.

Jabil Stock Performance

NYSE:JBL opened at $129.59 on Friday. Jabil Inc. has a 1 year low of $75.48 and a 1 year high of $156.94. The firm’s fifty day simple moving average is $138.45 and its 200 day simple moving average is $131.19. The company has a current ratio of 1.17, a quick ratio of 0.72 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $15.63 billion, a PE ratio of 11.12, a PEG ratio of 1.38 and a beta of 1.40.

Jabil (NYSE:JBL) last posted its earnings results on Friday, March 15th. The technology company reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.01). Jabil had a net margin of 4.70% and a return on equity of 39.47%. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.91 billion. On average, sell-side analysts anticipate that Jabil Inc. will post 7.83 EPS for the current year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 15th will be given a $0.08 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.32 annualized dividend and a yield of 0.25%. Jabil’s dividend payout ratio is 2.75%.

Jabil Company 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).