Wilmington Savings Fund Society FSB Invests $347,000 in Jabil Inc. (NYSE:JBL)

Wilmington Savings Fund Society FSB bought a new position in shares of Jabil Inc. (NYSE:JBL) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,896 shares of the technology company’s stock, valued at approximately $347,000.

A number of other institutional investors have also recently added to or reduced their stakes in JBL. FMR LLC lifted its holdings in shares of Jabil by 11.3% during 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 during the period. Primecap Management Co. CA lifted its holdings in Jabil by 0.3% during the 3rd quarter. Primecap Management Co. CA now owns 3,692,560 shares of the technology company’s stock worth $442,479,000 after buying an additional 9,685 shares during the period. Pacer Advisors Inc. grew its position 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 buying an additional 2,188,521 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Jabil by 7.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,636,737 shares of the technology company’s stock valued at $178,058,000 after buying an additional 106,808 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Jabil by 29.0% during the second quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock worth $150,463,000 after acquiring an additional 310,590 shares during the last quarter. 93.39% of the stock is owned by institutional investors.

Jabil Price Performance

JBL stock opened at $134.94 on Tuesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.72. The company’s 50-day moving average is $129.76 and its 200-day moving average is $117.67. The stock has a market capitalization of $15.23 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 1.57 and a beta of 1.25. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94.

Jabil (NYSE:JBL) last posted its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.08. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.59 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The firm’s revenue for the quarter was down 17.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.34 EPS. Equities research analysts expect that Jabil Inc. will post 7.89 EPS for the current fiscal year.

Jabil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.32 annualized dividend and a yield of 0.24%. Jabil’s payout ratio is 2.90%.

Analysts Set New Price Targets

Several analysts recently commented on JBL shares. Barclays upped their target price on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Bank of America increased their price objective on shares of Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. dropped their target price 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. Stifel Nicolaus lifted their price objective on Jabil from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, StockNews.com upgraded Jabil from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Jabil currently has a consensus rating of “Moderate Buy” and an average price target of $145.17.

Insider Buying and Selling at Jabil

In related news, SVP Francis Mckay sold 11,755 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $121.71, for a total value of $1,430,701.05. Following the transaction, the senior vice president now owns 41,507 shares of the company’s stock, valued at approximately $5,051,816.97. This trade represents a 22.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of Jabil stock in a transaction dated 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 $17,346,767.60. This trade represents a 12.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,689 shares of company stock valued at $5,377,431. Corporate 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).