Assenagon Asset Management S.A. lifted its stake in Jabil Inc (NYSE:JBL) by 64.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 257,910 shares of the technology company’s stock after purchasing an additional 101,179 shares during the period. Assenagon Asset Management S.A. owned about 0.16% of Jabil worth $6,984,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Commonwealth Bank of Australia boosted its holdings in Jabil by 248.7% in the second quarter. Commonwealth Bank of Australia now owns 175,128 shares of the technology company’s stock valued at $4,841,000 after purchasing an additional 124,900 shares during the period. Strs Ohio purchased a new position in Jabil in the second quarter valued at $30,790,000. Bailard Inc. boosted its holdings in Jabil by 39.6% in the second quarter. Bailard Inc. now owns 22,200 shares of the technology company’s stock valued at $614,000 after purchasing an additional 6,300 shares during the period. Bank of America Corp DE boosted its holdings in Jabil by 9.0% in the second quarter. Bank of America Corp DE now owns 1,637,804 shares of the technology company’s stock valued at $45,300,000 after purchasing an additional 135,002 shares during the period. Finally, New Jersey Better Educational Savings Trust purchased a new position in Jabil in the second quarter valued at $277,000. Hedge funds and other institutional investors own 93.20% of the company’s stock.
A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. set a $37.00 target price on Jabil and gave the company a “buy” rating in a report on Wednesday, September 26th. ValuEngine upgraded Jabil from a “sell” rating to a “hold” rating in a report on Thursday. Finally, TheStreet lowered Jabil from a “b-” rating to a “c+” rating in a report on Tuesday, October 9th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $32.33.
Shares of NYSE JBL opened at $25.81 on Friday. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 11.89 and a beta of 0.40. The company has a quick ratio of 0.57, a current ratio of 1.04 and a debt-to-equity ratio of 1.27. Jabil Inc has a 1 year low of $23.04 and a 1 year high of $31.77.
Jabil (NYSE:JBL) last announced its quarterly earnings results on Tuesday, September 25th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.02. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.41 billion. Jabil had a return on equity of 16.56% and a net margin of 0.39%. Jabil’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 15th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Wednesday, November 14th. Jabil’s dividend payout ratio (DPR) is 14.75%.
In other Jabil news, CEO Alessandro Parimbelli sold 20,500 shares of Jabil stock in a transaction dated Thursday, October 4th. The stock was sold at an average price of $26.40, for a total transaction of $541,200.00. Following the completion of the sale, the chief executive officer now directly owns 339,811 shares of the company’s stock, valued at approximately $8,971,010.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President William E. Peters sold 13,915 shares of Jabil stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $26.99, for a total value of $375,565.85. Following the sale, the president now directly owns 497,647 shares of the company’s stock, valued at $13,431,492.53. The disclosure for this sale can be found here. Insiders have sold a total of 78,330 shares of company stock valued at $2,227,280 over the last ninety days. 2.60% of the stock is owned by company insiders.
Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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).
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