Meeder Asset Management Inc. Makes New $545,000 Investment in Jabil Inc. (NYSE:JBL)

Meeder Asset Management Inc. purchased a new stake in shares of Jabil Inc. (NYSE:JBL) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,007 shares of the technology company’s stock, valued at approximately $545,000.

Several other institutional investors have also added to or reduced their stakes in the company. Achmea Investment Management B.V. lifted its position in shares of Jabil by 4.2% during the second quarter. Achmea Investment Management B.V. now owns 35,955 shares of the technology company’s stock worth $3,912,000 after purchasing an additional 1,450 shares during the last quarter. American Century Companies Inc. grew its position in shares of Jabil by 10.8% in the 2nd quarter. American Century Companies Inc. now owns 219,644 shares of the technology company’s stock worth $23,895,000 after buying an additional 21,336 shares during the last quarter. Mitchell Sinkler & Starr PA acquired a new position in shares of Jabil during the second quarter worth $255,000. HHM Wealth Advisors LLC purchased a new stake in shares of Jabil during the second quarter worth about $28,000. Finally, Headlands Technologies LLC acquired a new position in Jabil during the 2nd quarter valued at approximately $513,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Insiders Place Their Bets

In other news, SVP May Yee Yap sold 4,274 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total transaction of $500,228.96. Following the completion of the transaction, the senior vice president now directly owns 24,829 shares of the company’s stock, valued at $2,905,986.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Frederic E. Mccoy sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $116.42, for a total transaction of $145,525.00. Following the completion of the sale, the executive vice president now owns 112,753 shares in the company, valued at approximately $13,126,704.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP May Yee Yap sold 4,274 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $117.04, for a total transaction of $500,228.96. Following the completion of the transaction, the senior vice president now directly owns 24,829 shares in the company, valued at $2,905,986.16. The disclosure for this sale can be found here. 2.62% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on JBL shares. Barclays decreased their price objective on shares of Jabil from $149.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. UBS Group decreased their target price on Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, June 21st. Bank of America decreased their price objective on shares of Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Friday, June 21st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Jabil presently has a consensus rating of “Moderate Buy” and an average price target of $141.13.

Jabil Price Performance

JBL stock opened at $105.90 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 1.26. The stock has a market cap of $12.01 billion, a price-to-earnings ratio of 9.64, a price-to-earnings-growth ratio of 1.75 and a beta of 1.25. The business has a fifty day moving average of $107.43 and a two-hundred day moving average of $119.15. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $156.94.

Jabil (NYSE:JBL) last released its quarterly earnings results on Thursday, June 20th. The technology company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.53 billion. Jabil had a return on equity of 40.30% and a net margin of 4.63%. The firm’s revenue was down 20.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.85 earnings per share. As a group, research analysts anticipate that Jabil Inc. will post 7.86 earnings per share for the current year.

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.30%. The ex-dividend date was Thursday, August 15th. Jabil’s payout ratio is 2.91%.

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).