CIBC Asset Management Inc Acquires 255 Shares of Jabil Inc. (NYSE:JBL)

CIBC Asset Management Inc increased its holdings in Jabil Inc. (NYSE:JBL) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,944 shares of the technology company’s stock after buying an additional 255 shares during the period. CIBC Asset Management Inc’s holdings in Jabil were worth $2,438,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of JBL. Pacer Advisors Inc. increased its holdings in shares of Jabil by 12,251.7% in the 3rd quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock valued at $264,391,000 after acquiring an additional 2,188,521 shares during the period. Two Sigma Advisers LP grew its stake in Jabil by 406.5% in the third quarter. Two Sigma Advisers LP now owns 722,800 shares of the technology company’s stock valued at $86,613,000 after purchasing an additional 580,100 shares during the last quarter. FMR LLC raised its holdings in Jabil by 11.3% in the third quarter. FMR LLC now owns 5,116,308 shares of the technology company’s stock worth $613,087,000 after purchasing an additional 520,672 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Jabil by 595.5% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 343,137 shares of the technology company’s stock valued at $41,118,000 after buying an additional 293,801 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC boosted its holdings in shares of Jabil by 29.0% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 574,938 shares of the technology company’s stock valued at $68,895,000 after buying an additional 129,400 shares in the last quarter. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Insider Activity

In other Jabil news, EVP Frederic E. Mccoy sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $149.81, for a total value of $599,240.00. Following the completion of the transaction, the executive vice president now directly owns 138,472 shares of the company’s stock, valued at approximately $20,744,490.32. The trade was a 2.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John C. Plant sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $172.55, for a total transaction of $8,627,500.00. Following the sale, the director now directly owns 5,900 shares in the company, valued at $1,018,045. The trade was a 89.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 77,400 shares of company stock valued at $12,804,458 in the last ninety days. Insiders own 1.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Barclays boosted their price objective on shares of Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Stifel Nicolaus reaffirmed a “buy” rating and set a $160.00 price target (up from $150.00) on shares of Jabil in a research report on Thursday, December 19th. The Goldman Sachs Group raised their price objective on Jabil from $136.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. StockNews.com lowered Jabil from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Finally, UBS Group raised their price target on Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Jabil has an average rating of “Moderate Buy” and a consensus price target of $153.17.

Jabil Price Performance

NYSE JBL opened at $162.54 on Friday. The company has a market cap of $17.75 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.68 and a beta of 1.23. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72. The stock’s fifty day moving average price is $157.22 and its 200 day moving average price is $132.72. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $174.80.

Jabil (NYSE:JBL) last announced its quarterly earnings data on Wednesday, December 18th. The technology company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.12. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The business had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.61 billion. During the same period in the prior year, the company earned $2.60 earnings per share. The company’s revenue was down 16.6% on a year-over-year basis. As a group, equities research analysts forecast that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.20%. The ex-dividend date is Tuesday, February 18th. Jabil’s payout ratio is 3.07%.

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).