California Public Employees Retirement System Boosts Stake in Jabil Inc. (NYSE:JBL)

California Public Employees Retirement System increased its stake in shares of Jabil Inc. (NYSE:JBL) by 2.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 784,669 shares of the technology company’s stock after purchasing an additional 19,611 shares during the period. California Public Employees Retirement System owned approximately 0.62% of Jabil worth $99,967,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JBL. FMR LLC boosted its position in Jabil by 15.9% in the 3rd quarter. FMR LLC now owns 10,525,084 shares of the technology company’s stock valued at $1,335,528,000 after buying an additional 1,440,857 shares during the period. Artisan Partners Limited Partnership purchased a new position in Jabil in the 3rd quarter valued at approximately $124,319,000. Caisse DE Depot ET Placement DU Quebec purchased a new position in Jabil in the 3rd quarter valued at approximately $57,818,000. Ceredex Value Advisors LLC boosted its position in Jabil by 72,212.5% in the 4th quarter. Ceredex Value Advisors LLC now owns 289,250 shares of the technology company’s stock valued at $36,850,000 after buying an additional 288,850 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Jabil in the 3rd quarter valued at approximately $35,172,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Jabil Stock Up 1.5 %

JBL opened at $120.89 on Wednesday. The business has a 50 day moving average price of $137.25 and a two-hundred day moving average price of $131.02. The company has a quick ratio of 0.72, a current ratio of 1.17 and a debt-to-equity ratio of 1.08. The company has a market cap of $14.58 billion, a PE ratio of 10.38, a P/E/G ratio of 1.27 and a beta of 1.40. Jabil Inc. has a 52 week low of $75.48 and a 52 week high of $156.94.

Jabil (NYSE:JBL) last released its earnings results on Friday, March 15th. The technology company reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.01). Jabil had a return on equity of 39.47% and a net margin of 4.70%. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.91 billion. As a group, research analysts anticipate that Jabil Inc. will post 7.83 EPS for the current year.

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Wednesday, May 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Tuesday, May 14th. Jabil’s dividend payout ratio is currently 2.75%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on JBL. The Goldman Sachs Group raised their price target on shares of Jabil from $141.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, March 4th. StockNews.com upgraded shares of Jabil from a “hold” rating to a “buy” rating in a report on Tuesday. Barclays reduced their price objective on shares of Jabil from $151.00 to $149.00 and set an “overweight” rating on the stock in a report on Monday, March 18th. Finally, Argus lowered shares of Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $144.50.

Insider Buying and Selling

In related news, SVP May Yee Yap sold 7,877 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $139.65, for a total value of $1,100,023.05. Following the sale, the senior vice president now owns 29,006 shares in the company, valued at approximately $4,050,687.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Jabil news, SVP May Yee Yap sold 7,877 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $139.65, for a total transaction of $1,100,023.05. Following the transaction, the senior vice president now owns 29,006 shares of the company’s stock, valued at approximately $4,050,687.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Mark T. Mondello sold 50,000 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $126.09, for a total value of $6,304,500.00. Following the transaction, the chairman now directly owns 1,809,194 shares in the company, valued at approximately $228,121,271.46. The disclosure for this sale can be found here. Insiders have sold a total of 107,177 shares of company stock worth $13,678,039 in the last quarter. Company insiders own 2.62% of the company’s stock.

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).