CIBC Asset Management Inc Boosts Stake in Jabil Inc. (NYSE:JBL)

CIBC Asset Management Inc lifted its stake in shares of Jabil Inc. (NYSE:JBL) by 2.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,689 shares of the technology company’s stock after buying an additional 462 shares during the period. CIBC Asset Management Inc’s holdings in Jabil were worth $2,000,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in JBL. HHM Wealth Advisors LLC purchased a new stake in Jabil during the 2nd quarter valued at about $28,000. Innealta Capital LLC acquired a new stake in shares of Jabil during the second quarter worth about $31,000. Capital Performance Advisors LLP purchased a new stake in Jabil in the third quarter valued at approximately $32,000. Family Firm Inc. acquired a new position in Jabil in the 2nd quarter worth approximately $37,000. Finally, Matrix Trust Co raised its position in Jabil by 135.4% during the 3rd quarter. Matrix Trust Co now owns 372 shares of the technology company’s stock worth $45,000 after buying an additional 214 shares during the last quarter. 93.39% of the stock is owned by hedge funds and other institutional investors.

Jabil Stock Performance

Shares of JBL stock opened at $127.52 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 0.72 and a debt-to-equity ratio of 1.66. Jabil Inc. has a 12-month low of $95.85 and a 12-month high of $156.94. The business’s 50 day moving average is $122.29 and its two-hundred day moving average is $115.56. The company has a market capitalization of $14.39 billion, a P/E ratio of 11.57, a P/E/G ratio of 1.51 and a beta of 1.24.

Jabil (NYSE:JBL) last announced its earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.08. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.59 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The business’s revenue was down 17.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.34 EPS. Analysts expect that Jabil Inc. will post 7.84 EPS for the current fiscal year.

Jabil Dividend Announcement

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

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, EVP Matthew Crowley sold 1,380 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $125.83, for a total transaction of $173,645.40. Following the completion of the sale, the executive vice president now owns 18,568 shares of the company’s stock, valued at $2,336,411.44. This represents a 6.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Frederic E. Mccoy sold 4,283 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $122.28, for a total transaction of $523,725.24. Following the completion of the transaction, the executive vice president now directly owns 142,472 shares in the company, valued at approximately $17,421,476.16. This represents a 2.92 % 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 worth $5,377,431 in the last 90 days. Insiders own 2.62% of the company’s stock.

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).