Earnest Partners LLC trimmed its position in shares of Jabil Inc (NYSE:JBL) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 859,541 shares of the technology company’s stock after selling 39,248 shares during the period. Earnest Partners LLC owned about 0.49% of Jabil worth $22,563,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in JBL. NorthCoast Asset Management LLC increased its stake in shares of Jabil by 689.6% during the fourth quarter. NorthCoast Asset Management LLC now owns 940,389 shares of the technology company’s stock worth $24,685,000 after buying an additional 821,294 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Jabil by 31.8% during the fourth quarter. Bank of New York Mellon Corp now owns 3,167,430 shares of the technology company’s stock worth $83,147,000 after buying an additional 763,647 shares during the period. LSV Asset Management increased its stake in shares of Jabil by 18.7% during the fourth quarter. LSV Asset Management now owns 4,725,209 shares of the technology company’s stock worth $124,036,000 after buying an additional 745,305 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Jabil during the fourth quarter worth approximately $18,543,000. Finally, BlackRock Inc. increased its stake in shares of Jabil by 4.1% during the fourth quarter. BlackRock Inc. now owns 15,673,789 shares of the technology company’s stock worth $411,435,000 after buying an additional 616,359 shares during the period. Hedge funds and other institutional investors own 99.65% of the company’s stock.
A number of equities analysts recently issued reports on JBL shares. Zacks Investment Research raised Jabil from a “sell” rating to a “hold” rating in a report on Friday, January 26th. Standpoint Research raised Jabil from a “hold” rating to a “buy” rating in a report on Tuesday, February 27th. Argus raised Jabil from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Monday, December 18th. Raymond James Financial reaffirmed a “hold” rating on shares of Jabil in a report on Thursday, December 14th. Finally, ValuEngine downgraded Jabil from a “strong-buy” rating to a “buy” rating in a report on Monday, December 4th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $32.90.
Jabil Inc (NYSE:JBL) opened at $28.27 on Wednesday. The company has a quick ratio of 0.50, a current ratio of 0.95 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $4,960.92, a P/E ratio of 49.60, a P/E/G ratio of 1.15 and a beta of 0.44. Jabil Inc has a fifty-two week low of $23.70 and a fifty-two week high of $31.70.
Jabil (NYSE:JBL) last posted its quarterly earnings data on Thursday, December 14th. The technology company reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.01. The business had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.50 billion. Jabil had a return on equity of 12.95% and a net margin of 0.54%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 earnings per share. equities analysts anticipate that Jabil Inc will post 2.06 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Wednesday, February 14th. Jabil’s payout ratio is currently 56.14%.
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Jabil Company Profile
Jabil Inc, formerly Jabil Circuit, Inc, provides electronic manufacturing services and solutions throughout the world. The Company operates in two segments, which include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The Company’s EMS segment is focused on leveraging information technology (IT), supply chain design and engineering, technologies centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a range of markets.
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