ING Groep NV Has $9.69 Million Stake in Jabil Inc. (NYSE:JBL)

ING Groep NV grew its position in Jabil Inc. (NYSE:JBL) by 71.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 80,872 shares of the technology company’s stock after purchasing an additional 33,644 shares during the quarter. ING Groep NV’s holdings in Jabil were worth $9,691,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cetera Investment Advisers raised its position in Jabil by 141.7% during the first quarter. Cetera Investment Advisers now owns 17,350 shares of the technology company’s stock valued at $2,324,000 after purchasing an additional 10,173 shares in the last quarter. CreativeOne Wealth LLC lifted its position in shares of Jabil by 239.2% during the 1st quarter. CreativeOne Wealth LLC now owns 10,116 shares of the technology company’s stock worth $1,355,000 after buying an additional 7,134 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in Jabil in the first quarter valued at about $39,040,000. State Board of Administration of Florida Retirement System grew its position in Jabil by 7.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 156,119 shares of the technology company’s stock valued at $20,912,000 after acquiring an additional 11,469 shares during the last quarter. Finally, CCM Investment Advisers LLC raised its stake in Jabil by 6.0% during the second quarter. CCM Investment Advisers LLC now owns 149,208 shares of the technology company’s stock worth $16,232,000 after acquiring an additional 8,405 shares in the last quarter. Institutional investors own 93.39% of the company’s stock.

Wall Street Analyst Weigh In

JBL has been the topic of a number of research analyst reports. Bank of America raised their price target on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Stifel Nicolaus boosted their target price on shares of Jabil from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Barclays increased their price target on Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Finally, JPMorgan Chase & Co. lowered 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 research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $143.50.

Insider Activity

In other Jabil news, SVP Francis Mckay sold 11,755 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 41,507 shares of the company’s stock, valued at approximately $5,051,816.97. The trade was a 22.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven A. Raymund sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 139,108 shares of the company’s stock, valued at approximately $17,346,767.60. This trade represents a 12.57 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,689 shares of company stock valued at $5,377,431. 2.62% of the stock is currently owned by insiders.

Jabil Stock Performance

Shares of Jabil stock opened at $129.08 on Friday. The stock has a market cap of $14.57 billion, a price-to-earnings ratio of 11.71, a P/E/G ratio of 1.55 and a beta of 1.24. The company has a quick ratio of 0.72, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $156.94. The company’s fifty day moving average is $120.72 and its 200 day moving average is $115.34.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Thursday, September 26th. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.08. The company had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.59 billion. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The business’s quarterly revenue was down 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.34 earnings per share. Sell-side analysts forecast that Jabil Inc. will post 7.84 EPS for the current 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 $0.08 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. Jabil’s dividend payout ratio (DPR) is currently 2.90%.

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).