Sumitomo Mitsui Trust Holdings Inc. Increases Position in Jabil Inc. (NYSE:JBL)

Sumitomo Mitsui Trust Holdings Inc. raised its position in Jabil Inc. (NYSE:JBL) by 12.0% during the fourth quarter, Holdings Channel reports. The firm owned 310,424 shares of the technology company’s stock after buying an additional 33,240 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Jabil were worth $39,548,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CVA Family Office LLC purchased a new stake in shares of Jabil during the fourth quarter worth $36,000. Valley National Advisers Inc. purchased a new stake in shares of Jabil during the fourth quarter worth $36,000. Hanseatic Management Services Inc. purchased a new stake in shares of Jabil during the third quarter worth $48,000. Ceredex Value Advisors LLC purchased a new stake in shares of Jabil during the third quarter worth $51,000. Finally, Allworth Financial LP increased its position in shares of Jabil by 745.8% during the fourth quarter. Allworth Financial LP now owns 406 shares of the technology company’s stock worth $52,000 after acquiring an additional 358 shares during the period. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Insider Buying and Selling at Jabil

In other Jabil news, SVP May Yee Yap sold 7,877 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $139.65, for a total value of $1,100,023.05. Following the completion of the transaction, the senior vice president now owns 29,006 shares in the company, valued at $4,050,687.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director David M. Stout sold 31,300 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $123.12, for a total value of $3,853,656.00. Following the completion of the sale, the director now directly owns 67,300 shares of the company’s stock, valued at $8,285,976. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP May Yee Yap sold 7,877 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $139.65, for a total transaction of $1,100,023.05. Following the completion of the sale, the senior vice president now directly owns 29,006 shares of the company’s stock, valued at $4,050,687.90. The disclosure for this sale can be found here. Insiders sold 107,177 shares of company stock worth $13,678,039 over the last 90 days. Corporate insiders own 2.62% of the company’s stock.

Jabil Stock Performance

Shares of JBL stock opened at $118.75 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.72 and a debt-to-equity ratio of 1.08. The firm has a fifty day moving average price of $138.03 and a 200 day moving average price of $131.15. The company has a market cap of $14.32 billion, a P/E ratio of 10.19, a PEG ratio of 1.38 and a beta of 1.40. Jabil Inc. has a 12 month low of $75.48 and a 12 month high of $156.94.

Jabil (NYSE:JBL) last released its quarterly earnings data on Friday, March 15th. The technology company reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.01). Jabil had a net margin of 4.70% and a return on equity of 39.47%. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.91 billion. Sell-side analysts predict that Jabil Inc. will post 7.83 earnings per share for the current fiscal year.

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Wednesday, May 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.32 annualized dividend and a yield of 0.27%. Jabil’s dividend payout ratio is presently 2.75%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. StockNews.com lowered Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, March 26th. Barclays cut their price objective on Jabil from $151.00 to $149.00 and set an “overweight” rating on the stock in a research report on Monday, March 18th. The Goldman Sachs Group boosted their target price on shares of Jabil from $141.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Finally, Argus downgraded shares of Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Two equities research 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 MarketBeat, Jabil currently has an average rating of “Moderate Buy” and an average price target of $144.50.

Jabil 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).