Wells Fargo & Company MN Acquires 62,795 Shares of Jabil Inc. (NYSE:JBL)

Wells Fargo & Company MN raised its holdings in shares of Jabil Inc. (NYSE:JBL) by 92.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 130,424 shares of the technology company’s stock after purchasing an additional 62,795 shares during the quarter. Wells Fargo & Company MN owned 0.12% of Jabil worth $18,768,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in JBL. Wellington Management Group LLP lifted its holdings in shares of Jabil by 70,781.4% in the 4th quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company’s stock valued at $835,876,000 after acquiring an additional 5,800,535 shares during the last quarter. Norges Bank purchased a new stake in Jabil during the fourth quarter valued at approximately $218,430,000. Raymond James Financial Inc. bought a new stake in shares of Jabil in the 4th quarter valued at approximately $43,312,000. JPMorgan Chase & Co. lifted its stake in shares of Jabil by 18.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company’s stock valued at $270,187,000 after purchasing an additional 288,806 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Jabil by 50.8% in the 4th quarter. Victory Capital Management Inc. now owns 627,041 shares of the technology company’s stock worth $90,231,000 after purchasing an additional 211,168 shares during the period. 93.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on JBL shares. Stifel Nicolaus restated a “buy” rating and issued a $160.00 price target (up from $150.00) on shares of Jabil in a research report on Thursday, December 19th. JPMorgan Chase & Co. raised their target price on shares of Jabil from $172.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. UBS Group upped their price target on shares of Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a report on Friday, March 21st. The Goldman Sachs Group decreased their price objective on shares of Jabil from $175.00 to $146.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Barclays boosted their target price on Jabil from $179.00 to $184.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $162.00.

Insiders Place Their Bets

In other news, Director John C. Plant sold 50,000 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $172.55, for a total value of $8,627,500.00. Following the completion of the transaction, the director now directly owns 5,900 shares of the company’s stock, valued at approximately $1,018,045. The trade was a 89.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christopher S. Holland sold 3,400 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $162.27, for a total value of $551,718.00. Following the sale, the director now directly owns 12,900 shares in the company, valued at approximately $2,093,283. The trade was a 20.86 % decrease in their position. The disclosure for this sale can be found here. 1.73% of the stock is owned by company insiders.

Jabil Price Performance

Jabil stock opened at $131.85 on Monday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72. The stock has a market cap of $14.40 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 1.65 and a beta of 1.12. The firm has a 50-day moving average of $146.05 and a two-hundred day moving average of $141.18. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $174.80.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.11. The firm had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.40 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. Jabil’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.68 earnings per share. On average, research analysts forecast that Jabil Inc. will post 8.05 earnings per share for the current year.

Jabil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date was Tuesday, February 18th. Jabil’s dividend payout ratio (DPR) is presently 7.66%.

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).