Quantbot Technologies LP Takes $4.14 Million Position in Jabil Inc. (NYSE:JBL)

Quantbot Technologies LP purchased a new position in Jabil Inc. (NYSE:JBL) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 34,575 shares of the technology company’s stock, valued at approximately $4,143,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of JBL. Pacer Advisors Inc. increased its holdings in Jabil by 12,251.7% in the 3rd quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock worth $264,391,000 after buying an additional 2,188,521 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Jabil during the 2nd quarter worth approximately $78,660,000. AQR Capital Management LLC grew its stake in shares of Jabil by 195.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,060,799 shares of the technology company’s stock worth $115,404,000 after purchasing an additional 702,199 shares during the period. FMR LLC grew its stake in shares of Jabil by 11.3% during the 3rd 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. Finally, Bank of New York Mellon Corp grew its stake in shares of Jabil by 29.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock worth $150,463,000 after purchasing an additional 310,590 shares during the period. Institutional investors and hedge funds own 93.39% of the company’s stock.

Jabil Trading Down 1.0 %

Shares of JBL stock opened at $132.70 on Wednesday. The stock’s fifty day moving average is $124.39 and its two-hundred day moving average is $115.92. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.72 and a current ratio of 1.09. The firm has a market capitalization of $14.97 billion, a P/E ratio of 12.04, a PEG ratio of 1.58 and a beta of 1.24. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $156.94.

Jabil (NYSE:JBL) last posted its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.22 by $0.08. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.59 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The company’s quarterly revenue was down 17.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.34 EPS. Research analysts expect that Jabil Inc. will post 7.84 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, November 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. Jabil’s payout ratio is 2.90%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Barclays raised their price objective on shares of Jabil from $135.00 to $157.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Bank of America increased their target price on Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Stifel Nicolaus increased their target price on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, JPMorgan Chase & Co. decreased their target price on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $143.50.

Insider Buying and Selling at Jabil

In other Jabil news, EVP Matthew Crowley sold 1,380 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $125.83, for a total transaction of $173,645.40. Following the sale, the executive vice president now directly owns 18,568 shares in the company, valued at $2,336,411.44. This represents a 6.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven A. Raymund sold 20,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $124.70, for a total transaction of $2,494,000.00. Following the sale, the director now owns 139,108 shares in the company, valued at $17,346,767.60. This trade represents a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,689 shares of company stock valued at $5,377,431 over the last 90 days. 2.62% of the stock is owned by insiders.

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).