New York Life Investment Management LLC Takes $2.36 Million Position in Jabil Inc. (NYSE:JBL)

New York Life Investment Management LLC acquired a new position in Jabil Inc. (NYSE:JBL) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 18,496 shares of the technology company’s stock, valued at approximately $2,356,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Alaska Permanent Fund Corp acquired a new position in shares of Jabil in the fourth quarter worth $29,000. CVA Family Office LLC acquired a new position in Jabil in the 4th quarter valued at about $36,000. Valley National Advisers Inc. acquired a new stake in shares of Jabil during the 4th quarter worth about $36,000. Hanseatic Management Services Inc. purchased a new stake in shares of Jabil during the third quarter worth about $48,000. Finally, Allworth Financial LP raised its position in shares of Jabil by 745.8% in the fourth quarter. Allworth Financial LP now owns 406 shares of the technology company’s stock valued at $52,000 after buying an additional 358 shares during the last quarter. 93.39% of the stock is owned by institutional investors and hedge funds.

Jabil Stock Performance

NYSE JBL opened at $118.97 on Tuesday. 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 1-year low of $77.22 and a 1-year 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. The business’s 50-day simple moving average is $133.37 and its 200-day simple moving average is $129.88.

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 return on equity of 39.47% and a net margin of 4.70%. The business had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.91 billion. Equities analysts predict that Jabil Inc. will post 7.83 EPS for the current year.

Jabil Announces Dividend

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

Insider Activity

In other Jabil news, CEO Kenneth S. Wilson sold 15,000 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $134.20, for a total value of $2,013,000.00. Following the completion of the sale, the chief executive officer now owns 339,725 shares of the company’s stock, valued at $45,591,095. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP May Yee Yap sold 7,877 shares of the firm’s stock in a transaction dated 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 directly owns 29,006 shares in the company, valued at $4,050,687.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kenneth S. Wilson sold 15,000 shares of Jabil 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 sale, the chief executive officer now directly owns 339,725 shares in the company, valued at $45,591,095. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,877 shares of company stock worth $9,824,383. 2.62% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

JBL has been the subject of several recent analyst reports. The Goldman Sachs Group lifted 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. Barclays dropped their target price on Jabil from $151.00 to $149.00 and set an “overweight” rating for the company in a research note on Monday, March 18th. StockNews.com upgraded Jabil from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Finally, Argus downgraded shares of Jabil from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $144.50.

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).