Convergence Investment Partners LLC increased its position in Jabil, Inc. (NYSE:JBL – Free Report) by 262.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,086 shares of the technology company’s stock after buying an additional 16,724 shares during the period. Jabil accounts for approximately 1.0% of Convergence Investment Partners LLC’s investment portfolio, making the stock its 20th biggest holding. Convergence Investment Partners LLC’s holdings in Jabil were worth $5,264,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in JBL. Arrowstreet Capital Limited Partnership grew its stake in shares of Jabil by 1,157.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,454,915 shares of the technology company’s stock valued at $315,964,000 after buying an additional 1,339,247 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Jabil in the 4th quarter valued at about $121,710,000. Allianz Asset Management GmbH grew its stake in shares of Jabil by 180.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 758,326 shares of the technology company’s stock valued at $164,686,000 after buying an additional 487,595 shares during the period. M&T Bank Corp grew its stake in shares of Jabil by 2,833.4% in the 4th quarter. M&T Bank Corp now owns 348,987 shares of the technology company’s stock valued at $79,576,000 after buying an additional 337,090 shares during the period. Finally, Barclays PLC grew its stake in shares of Jabil by 125.4% in the 3rd quarter. Barclays PLC now owns 588,155 shares of the technology company’s stock valued at $127,730,000 after buying an additional 327,238 shares during the period. 93.39% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other Jabil news, SVP May Yee Yap sold 1,634 shares of Jabil stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $306.74, for a total transaction of $501,213.16. Following the transaction, the senior vice president owned 23,787 shares of the company’s stock, valued at $7,296,424.38. This trade represents a 6.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Dastoor sold 9,467 shares of Jabil stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $286.64, for a total transaction of $2,713,620.88. Following the transaction, the chief executive officer directly owned 253,099 shares in the company, valued at approximately $72,548,297.36. This represents a 3.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 37,981 shares of company stock worth $11,360,740. Corporate insiders own 1.35% of the company’s stock.
Jabil Price Performance
Jabil (NYSE:JBL – Get Free Report) last announced its quarterly earnings results on Wednesday, March 18th. The technology company reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.18. Jabil had a net margin of 2.48% and a return on equity of 80.96%. The business had revenue of $8.28 billion for the quarter, compared to analysts’ expectations of $7.75 billion. During the same quarter last year, the firm earned $1.94 EPS. The firm’s revenue for the quarter was up 23.1% compared to the same quarter last year. As a group, research analysts anticipate that Jabil, Inc. will post 11.3 earnings per share for the current fiscal year.
Jabil Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Friday, May 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.1%. Jabil’s dividend payout ratio (DPR) is currently 4.30%.
Analyst Ratings Changes
JBL has been the subject of several research reports. Bank of America raised their target price on Jabil from $295.00 to $354.00 and gave the company a “buy” rating in a research note on Monday, April 20th. UBS Group raised their target price on Jabil from $244.00 to $254.00 and gave the company a “neutral” rating in a research note on Tuesday, March 10th. Zacks Research upgraded Jabil from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 15th. Barclays raised their target price on Jabil from $283.00 to $304.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. Finally, JPMorgan Chase & Co. raised their price target on shares of Jabil from $270.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $290.63.
Check Out Our Latest Analysis on Jabil
About Jabil
Jabil Inc (NYSE: JBL) is a global manufacturing solutions provider specializing in electronic manufacturing services (EMS) and diversified products across a wide range of industries. The company partners with original equipment manufacturers to deliver design engineering, supply chain management, precision manufacturing, and aftermarket services. Jabil’s expertise spans sectors such as healthcare, automotive, clean technology, telecommunications, consumer electronics, and packaging, enabling it to support both high-volume production and complex, mission-critical applications.
Founded in 1966 by William E.
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