Nomura Asset Management Co. Ltd. Raises Position in Jabil Inc. (NYSE:JBL)

Nomura Asset Management Co. Ltd. raised its position in Jabil Inc. (NYSE:JBL) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,737 shares of the technology company’s stock after buying an additional 233 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Jabil were worth $4,163,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of JBL. HHM Wealth Advisors LLC acquired a new stake in shares of Jabil in the second quarter worth approximately $28,000. Innealta Capital LLC purchased a new position in Jabil in the 2nd quarter valued at $31,000. Capital Performance Advisors LLP purchased a new position in Jabil in the 3rd quarter valued at $32,000. Family Firm Inc. acquired a new stake in Jabil during the 2nd quarter worth $37,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Jabil during the third quarter worth $39,000. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Jabil Trading Up 1.1 %

JBL opened at $135.13 on Friday. The stock has a market capitalization of $15.25 billion, a PE ratio of 12.26, a P/E/G ratio of 1.57 and a beta of 1.25. Jabil Inc. has a one year low of $95.85 and a one year high of $156.94. 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 business’s 50 day moving average price is $129.51 and its 200 day moving average price is $117.57.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 EPS for the quarter, beating 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.34 EPS. As a group, equities research analysts expect that Jabil Inc. will post 7.89 EPS for the current year.

Jabil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date was Friday, November 15th. Jabil’s dividend payout ratio (DPR) is 2.90%.

Insider Activity at Jabil

In other Jabil news, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $124.70, for a total value of $2,494,000.00. Following the completion of the transaction, the director now owns 139,108 shares of the company’s stock, valued at $17,346,767.60. This trade represents a 12.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Francis Mckay sold 11,755 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $121.71, for a total value of $1,430,701.05. Following the sale, the senior vice president now directly owns 41,507 shares in the company, valued at $5,051,816.97. This represents a 22.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,689 shares of company stock worth $5,377,431. Insiders own 2.62% of the company’s stock.

Wall Street Analyst Weigh In

JBL has been the topic of several research reports. Stifel Nicolaus raised their price target on shares of Jabil from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Bank of America boosted their target price on Jabil from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Barclays upped their price target on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. StockNews.com upgraded Jabil from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. dropped their target price on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.17.

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).