New York Life Investment Management LLC Makes New Investment in Jabil Inc. (NYSE:JBL)

New York Life Investment Management LLC acquired a new stake in Jabil Inc. (NYSE:JBL) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 18,496 shares of the technology company’s stock, valued at approximately $2,356,000.

A number of other hedge funds have also modified their holdings of JBL. Field & Main Bank lifted its holdings in Jabil by 5.6% during the 4th quarter. Field & Main Bank now owns 1,875 shares of the technology company’s stock valued at $239,000 after purchasing an additional 100 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of Jabil by 3.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 72,654 shares of the technology company’s stock worth $9,256,000 after acquiring an additional 2,148 shares in the last quarter. Stevens Capital Management LP bought a new stake in Jabil during the 4th quarter worth approximately $1,279,000. Alaska Permanent Fund Corp bought a new position in Jabil in the 4th quarter valued at $29,000. Finally, GAMMA Investing LLC acquired a new position in Jabil in the fourth quarter worth $81,000. 93.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JBL has been the subject of a number of research reports. The Goldman Sachs Group raised their target price on Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Barclays reduced their target price on shares of Jabil from $151.00 to $149.00 and set an “overweight” rating on the stock in a research report on Monday, March 18th. StockNews.com raised shares of Jabil from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Finally, Argus downgraded Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $144.50.

Insiders Place Their Bets

In other news, SVP May Yee Yap sold 7,877 shares of the company’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP May Yee Yap sold 7,877 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $139.65, for a total value of $1,100,023.05. Following the sale, the senior vice president now directly owns 29,006 shares in the company, valued at $4,050,687.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Kenneth S. Wilson sold 15,000 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $134.20, for a total value of $2,013,000.00. Following the transaction, the chief executive officer now owns 339,725 shares of the company’s stock, valued at $45,591,095. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,877 shares of company stock worth $9,824,383. Corporate insiders own 2.62% of the company’s stock.

Jabil Trading Up 1.5 %

Shares of NYSE JBL opened at $118.97 on Tuesday. The company’s 50 day simple moving average is $133.37 and its 200 day simple moving average is $129.88. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.17 and a quick ratio of 0.72. Jabil Inc. has a fifty-two week low of $77.22 and a fifty-two week high of $156.94. The firm has a market capitalization of $14.35 billion, a P/E ratio of 10.21, a P/E/G ratio of 1.25 and a beta of 1.42.

Jabil (NYSE:JBL) last posted its quarterly earnings results 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). The company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.91 billion. Jabil had a return on equity of 39.47% and a net margin of 4.70%. On average, analysts predict that Jabil Inc. will post 7.83 EPS for the current year.

Jabil Announces Dividend

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

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).