Primecap Management Co. CA Has $400.66 Million Stock Holdings in Jabil Inc. (NYSE:JBL)

Primecap Management Co. CA raised its holdings in Jabil Inc. (NYSE:JBL) by 3.0% in the second quarter, Holdings Channel.com reports. The fund owned 3,682,875 shares of the technology company’s stock after acquiring an additional 107,800 shares during the quarter. Primecap Management Co. CA’s holdings in Jabil were worth $400,660,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. acquired a new stake in Jabil in the first quarter valued at approximately $25,000. ORG Partners LLC acquired a new stake in shares of Jabil in the first quarter worth $29,000. Riverview Trust Co acquired a new stake in shares of Jabil in the first quarter worth $33,000. HHM Wealth Advisors LLC acquired a new stake in shares of Jabil in the second quarter worth $28,000. Finally, Innealta Capital LLC acquired a new stake in shares of Jabil in the second quarter worth $31,000. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Jabil Trading Down 0.2 %

Shares of JBL stock opened at $105.72 on Tuesday. The firm has a market capitalization of $11.99 billion, a P/E ratio of 9.62, a price-to-earnings-growth ratio of 1.75 and a beta of 1.25. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 1.26. The firm’s fifty day simple moving average is $107.35 and its 200 day simple moving average is $118.55. Jabil Inc. has a 1 year low of $95.85 and a 1 year high of $156.94.

Jabil (NYSE:JBL) last announced its quarterly earnings results on Thursday, June 20th. The technology company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.53 billion. Jabil had a net margin of 4.63% and a return on equity of 40.30%. The business’s revenue for the quarter was down 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.85 EPS. As a group, sell-side analysts predict that Jabil Inc. will post 7.86 EPS for the current year.

Jabil Announces Dividend

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

Insider Buying and Selling at Jabil

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

Analyst Ratings Changes

A number of analysts have recently weighed in on JBL shares. UBS Group reduced their price objective on shares of Jabil from $130.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, June 21st. Bank of America reduced their price objective on shares of Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Friday, June 21st. Barclays reduced 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. Finally, JPMorgan Chase & Co. dropped their target price on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $141.13.

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).