Mackenzie Financial Corp Increases Stock Position in Jabil Inc. (NYSE:JBL)

Mackenzie Financial Corp increased its position in Jabil Inc. (NYSE:JBL) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,258 shares of the technology company’s stock after acquiring an additional 90 shares during the period. Mackenzie Financial Corp’s holdings in Jabil were worth $1,307,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. HB Wealth Management LLC raised its holdings in Jabil by 3.9% in the 4th quarter. HB Wealth Management LLC now owns 2,183 shares of the technology company’s stock worth $278,000 after acquiring an additional 82 shares during the last quarter. Signaturefd LLC grew its position in Jabil by 1.3% in the 3rd quarter. Signaturefd LLC now owns 6,761 shares of the technology company’s stock worth $858,000 after purchasing an additional 86 shares during the period. Fifth Third Bancorp grew its position in Jabil by 3.2% in the 3rd quarter. Fifth Third Bancorp now owns 3,836 shares of the technology company’s stock worth $487,000 after purchasing an additional 120 shares during the period. Convergence Investment Partners LLC grew its position in Jabil by 3.6% in the 3rd quarter. Convergence Investment Partners LLC now owns 4,032 shares of the technology company’s stock worth $512,000 after purchasing an additional 141 shares during the period. Finally, Advisor Partners II LLC grew its position in Jabil by 3.2% in the 3rd quarter. Advisor Partners II LLC now owns 4,938 shares of the technology company’s stock worth $627,000 after purchasing an additional 153 shares during the period. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

JBL has been the subject of a number of research analyst reports. Argus downgraded shares of Jabil from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. StockNews.com raised shares of Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday. Barclays cut their target price on shares of Jabil from $151.00 to $149.00 and set an “overweight” rating for the company in a research report on Monday, March 18th. Finally, The Goldman Sachs Group boosted their price objective on shares of Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, March 4th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Jabil has a consensus rating of “Buy” and an average target price of $144.50.

Insider Activity at Jabil

In related news, SVP May Yee Yap sold 7,877 shares of Jabil stock in a transaction on 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 transaction, the senior vice president now owns 29,006 shares in the company, valued at approximately $4,050,687.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Jabil news, Chairman Mark T. Mondello sold 50,000 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $126.09, for a total value of $6,304,500.00. Following the sale, the chairman now owns 1,809,194 shares in the company, valued at approximately $228,121,271.46. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP May Yee Yap sold 7,877 shares of the business’s stock in a transaction on Monday, April 8th. The stock was 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 owns 29,006 shares in the company, valued at approximately $4,050,687.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 107,177 shares of company stock worth $13,678,039. 2.62% of the stock is owned by corporate insiders.

Jabil Trading Down 0.5 %

Shares of JBL stock opened at $120.24 on Thursday. Jabil Inc. has a 1 year low of $75.48 and a 1 year high of $156.94. The firm has a fifty day moving average price of $136.83 and a 200-day moving average price of $130.95. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.17 and a quick ratio of 0.72. The company has a market cap of $14.50 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 1.27 and a beta of 1.40.

Jabil (NYSE:JBL) last released its earnings results on Friday, March 15th. The technology company reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.01). Jabil had a net margin of 4.70% and a return on equity of 39.47%. The firm had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.91 billion. As a group, equities analysts predict that Jabil Inc. will post 7.83 earnings per share for the current year.

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Wednesday, May 15th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend is Tuesday, May 14th. Jabil’s dividend payout ratio (DPR) is 2.75%.

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).