Nisa Investment Advisors LLC Grows Stake in Jabil Inc. (NYSE:JBL)

Nisa Investment Advisors LLC lifted its stake in shares of Jabil Inc. (NYSE:JBL) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,798 shares of the technology company’s stock after purchasing an additional 419 shares during the period. Nisa Investment Advisors LLC’s holdings in Jabil were worth $3,810,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of JBL. Point72 Asset Management L.P. bought a new position in Jabil during the second quarter worth about $78,660,000. AQR Capital Management LLC boosted its holdings in Jabil by 195.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock worth $115,404,000 after buying an additional 702,199 shares during the period. Bank of New York Mellon Corp grew its stake in Jabil by 29.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock valued at $150,463,000 after buying an additional 310,590 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in Jabil during the 1st quarter valued at $39,040,000. Finally, Victory Capital Management Inc. lifted its position in shares of Jabil by 72.0% during the second quarter. Victory Capital Management Inc. now owns 490,499 shares of the technology company’s stock worth $53,361,000 after acquiring an additional 205,331 shares in the last quarter. Institutional investors own 93.39% of the company’s stock.

Jabil Price Performance

NYSE JBL opened at $127.67 on Friday. The stock has a market capitalization of $14.41 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 1.46 and a beta of 1.25. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $156.94. The business’s fifty day moving average price is $115.99 and its 200-day moving average price is $114.72.

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

Jabil Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Barclays lifted their price target on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Bank of America lifted their target price on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, September 27th. JPMorgan Chase & Co. lowered their price target on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Finally, Stifel Nicolaus boosted their price objective on shares of Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, September 27th. 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $143.50.

Insider Transactions at Jabil

In related news, Director Steven A. Raymund sold 20,000 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $124.70, for a total value of $2,494,000.00. Following the transaction, the director now directly owns 139,108 shares of the company’s stock, valued at $17,346,767.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Matthew Crowley sold 1,380 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $125.83, for a total value of $173,645.40. Following the sale, the executive vice president now owns 18,568 shares in the company, valued at $2,336,411.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of Jabil stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $124.70, for a total value of $2,494,000.00. Following the transaction, the director now owns 139,108 shares of the company’s stock, valued at approximately $17,346,767.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,689 shares of company stock valued at $5,377,431 in the last 90 days. Insiders own 2.62% of the company’s stock.

About Jabil

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).