Jabil Inc (JBL) Position Lifted by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its holdings in shares of Jabil Inc (NYSE:JBL) by 4.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 10,141 shares of the technology company’s stock after buying an additional 398 shares during the quarter. CIBC Asset Management Inc’s holdings in Jabil were worth $270,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. JOYN Advisors Inc. grew its stake in Jabil by 2,157.4% during the 4th quarter. JOYN Advisors Inc. now owns 1,061 shares of the technology company’s stock valued at $26,000 after purchasing an additional 1,014 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in Jabil during the 4th quarter valued at about $34,000. Oregon Public Employees Retirement Fund grew its stake in Jabil by 2,076.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,511,446 shares of the technology company’s stock valued at $61,000 after purchasing an additional 1,441,988 shares during the last quarter. Doyle Wealth Management purchased a new stake in Jabil during the 4th quarter valued at about $73,000. Finally, Squar Milner Financial Services LLC purchased a new stake in Jabil during the 1st quarter valued at about $118,000. 89.81% of the stock is currently owned by institutional investors.

In other news, CEO Alessandro Parimbelli sold 17,000 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $29.22, for a total value of $496,740.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Martha Brooks sold 10,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $30.22, for a total value of $302,200.00. Following the completion of the sale, the director now owns 92,400 shares in the company, valued at approximately $2,792,328. The disclosure for this sale can be found here. Insiders sold 46,388 shares of company stock worth $1,389,530 in the last 90 days. Company insiders own 2.90% of the company’s stock.

Jabil stock opened at $26.04 on Monday. The company has a current ratio of 1.02, a quick ratio of 0.60 and a debt-to-equity ratio of 1.34. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 1.00 and a beta of 0.65. Jabil Inc has a fifty-two week low of $21.49 and a fifty-two week high of $31.50.

Jabil (NYSE:JBL) last posted its quarterly earnings results on Thursday, March 14th. The technology company reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.06). The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $6.12 billion. Jabil had a net margin of 0.74% and a return on equity of 18.89%. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 EPS. On average, research analysts forecast that Jabil Inc will post 2.3 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be paid a $0.08 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.23%. Jabil’s payout ratio is 14.75%.

Several analysts have weighed in on the company. Zacks Investment Research downgraded Jabil from a “hold” rating to a “sell” rating in a research note on Thursday. TheStreet upgraded Jabil from a “c+” rating to a “b” rating in a research note on Monday, February 25th. Finally, Raymond James upgraded Jabil from a “market perform” rating to a “strong-buy” rating and set a $34.00 price target on the stock in a research note on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Jabil currently has an average rating of “Hold” and a consensus target price of $29.17.

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Jabil Profile

Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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).

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Institutional Ownership by Quarter for Jabil (NYSE:JBL)

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