AQR Capital Management LLC Decreases Holdings in Jabil Inc. (NYSE:JBL)

AQR Capital Management LLC decreased its holdings in Jabil Inc. (NYSE:JBL) by 0.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 958,165 shares of the technology company’s stock after selling 8,203 shares during the period. AQR Capital Management LLC’s holdings in Jabil were worth $137,880,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in JBL. Wellington Management Group LLP lifted its stake in Jabil by 70,781.4% in the fourth quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company’s stock worth $835,876,000 after purchasing an additional 5,800,535 shares during the last quarter. FMR LLC lifted its stake in shares of Jabil by 8.1% in the 4th quarter. FMR LLC now owns 5,533,149 shares of the technology company’s stock valued at $796,220,000 after acquiring an additional 416,841 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Jabil by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company’s stock valued at $404,024,000 after acquiring an additional 34,574 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Jabil by 18.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company’s stock valued at $270,187,000 after acquiring an additional 288,806 shares during the period. Finally, Norges Bank bought a new position in Jabil during the 4th quarter worth approximately $218,430,000. Institutional investors own 93.39% of the company’s stock.

Insider Buying and Selling

In other Jabil news, Director Christopher S. Holland sold 3,400 shares of the business’s stock in a transaction on Friday, January 31st. The stock was 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 of the company’s stock, valued at approximately $2,093,283. The trade was a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction on Friday, April 11th. The stock was sold at an average price of $131.56, for a total value of $2,631,200.00. Following the completion of the sale, the chairman now directly owns 1,730,192 shares in the company, valued at approximately $227,624,059.52. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.73% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on JBL shares. JPMorgan Chase & Co. dropped their price objective on Jabil from $175.00 to $154.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. StockNews.com lowered shares of Jabil from a “buy” rating to a “hold” rating in a report on Friday, April 18th. The Goldman Sachs Group lowered 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, April 10th. Barclays raised their target price on Jabil from $179.00 to $184.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Finally, UBS Group upped their price target on Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.50.

Jabil Stock Performance

Jabil stock opened at $146.79 on Wednesday. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $174.80. The stock has a market cap of $15.76 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 1.65 and a beta of 1.12. The stock’s 50 day simple moving average is $139.07 and its two-hundred day simple moving average is $142.44. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.11. The company had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.40 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.68 earnings per share. As a group, analysts expect that Jabil Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Thursday, May 15th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.22%. Jabil’s dividend payout ratio (DPR) is currently 7.66%.

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).