Jabil Inc. (NYSE:JBL) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Jabil Inc. (NYSE:JBL) by 19.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,114 shares of the technology company’s stock after purchasing an additional 1,957 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Jabil were worth $1,543,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in JBL. FMR LLC boosted its holdings in Jabil by 15.9% in 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 in the last quarter. Wellington Management Group LLP boosted its holdings in Jabil by 0.7% in the third quarter. Wellington Management Group LLP now owns 5,392,355 shares of the technology company’s stock valued at $684,236,000 after purchasing an additional 36,560 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Jabil by 7.0% in the third quarter. Bank of New York Mellon Corp now owns 1,513,406 shares of the technology company’s stock valued at $192,036,000 after purchasing an additional 99,174 shares in the last quarter. Northern Trust Corp boosted its holdings in Jabil by 13.8% in the third quarter. Northern Trust Corp now owns 1,162,838 shares of the technology company’s stock valued at $147,553,000 after purchasing an additional 141,383 shares in the last quarter. Finally, Artisan Partners Limited Partnership acquired a new position in Jabil in the third quarter valued at approximately $124,319,000. 93.39% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Jabil

In other news, SVP May Yee Yap sold 7,877 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $139.65, for a total transaction of $1,100,023.05. Following the completion of the sale, the senior vice president now owns 29,006 shares in the company, valued at $4,050,687.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director David M. Stout sold 31,300 shares of the company’s stock in a transaction on 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 owns 67,300 shares of the company’s stock, valued at $8,285,976. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP May Yee Yap sold 7,877 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $139.65, for a total value of $1,100,023.05. Following the transaction, the senior vice president now directly owns 29,006 shares in the company, valued at approximately $4,050,687.90. The disclosure for this sale can be found here. Insiders sold 107,177 shares of company stock worth $13,678,039 over the last 90 days. 2.62% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on JBL. Barclays lowered their price target on Jabil from $151.00 to $149.00 and set an “overweight” rating for the company in a report on Monday, March 18th. StockNews.com raised Jabil from a “hold” rating to a “buy” rating in a report on Tuesday. The Goldman Sachs Group boosted their price objective on Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Finally, Argus cut Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $144.50.

Jabil Price Performance

Shares of NYSE JBL opened at $120.24 on Thursday. The company has a current ratio of 1.17, a quick ratio of 0.72 and a debt-to-equity ratio of 1.08. Jabil Inc. has a twelve month low of $75.48 and a twelve month high of $156.94. The stock has a 50 day moving average of $136.83 and a two-hundred day moving average of $130.95. The stock has a market cap of $14.50 billion, a P/E ratio of 10.32, a P/E/G ratio of 1.29 and a beta of 1.40.

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

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. The ex-dividend date is Tuesday, May 14th. Jabil’s dividend payout ratio (DPR) is presently 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).