FORA Capital LLC Buys 20,707 Shares of Jabil Inc. (NYSE:JBL)

FORA Capital LLC increased its stake in Jabil Inc. (NYSE:JBL) by 139.0% during the third quarter, HoldingsChannel reports. The firm owned 35,601 shares of the technology company’s stock after acquiring an additional 20,707 shares during the period. FORA Capital LLC’s holdings in Jabil were worth $4,266,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. FMR LLC raised its stake in shares of Jabil by 11.3% in the third quarter. FMR LLC now owns 5,116,308 shares of the technology company’s stock valued at $613,087,000 after buying an additional 520,672 shares during the period. Primecap Management Co. CA raised its stake in Jabil by 0.3% in the 3rd quarter. Primecap Management Co. CA now owns 3,692,560 shares of the technology company’s stock valued at $442,479,000 after acquiring an additional 9,685 shares during the period. Pacer Advisors Inc. raised its stake in Jabil by 12,251.7% in the 3rd quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock valued at $264,391,000 after acquiring an additional 2,188,521 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Jabil by 7.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,636,737 shares of the technology company’s stock valued at $178,058,000 after purchasing an additional 106,808 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Jabil by 29.0% during the second quarter. Bank of New York Mellon Corp now owns 1,383,062 shares of the technology company’s stock worth $150,463,000 after purchasing an additional 310,590 shares during the period. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Insider Transactions at Jabil

In other Jabil news, Director Steven A. Raymund sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $124.70, for a total value of $2,494,000.00. Following the completion of the transaction, the director now owns 139,108 shares of the company’s stock, valued at $17,346,767.60. The trade was a 12.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Frederic E. Mccoy sold 4,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $118.70, for a total transaction of $474,800.00. Following the completion of the transaction, the executive vice president now directly owns 108,753 shares in the company, valued at $12,908,981.10. The trade was a 3.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,689 shares of company stock valued at $5,377,431. 2.62% of the stock is owned by corporate insiders.

Jabil Price Performance

NYSE JBL traded down $0.82 on Wednesday, hitting $131.90. The stock had a trading volume of 68,138 shares, compared to its average volume of 1,433,691. The firm has a 50-day moving average of $124.39 and a 200-day moving average of $115.92. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.72 and a current ratio of 1.09. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $156.94. The company has a market capitalization of $14.88 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 1.58 and a beta of 1.24.

Jabil (NYSE:JBL) last issued its quarterly earnings data on Thursday, September 26th. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.08. Jabil had a return on equity of 42.64% and a net margin of 4.81%. The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.59 billion. During the same quarter last year, the business posted $2.34 earnings per share. The firm’s revenue was down 17.7% compared to the same quarter last year. Equities analysts expect that Jabil Inc. will post 7.84 EPS for the current year.

Jabil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Friday, November 15th. Jabil’s payout ratio is 2.90%.

Analysts Set New Price Targets

Several analysts have recently issued reports on JBL shares. Bank of America boosted their price target on shares of Jabil from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Barclays boosted their target price on shares of Jabil from $135.00 to $157.00 and gave the company an “overweight” rating in a report on Friday, September 27th. JPMorgan Chase & Co. cut their price target on Jabil from $137.00 to $133.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Finally, Stifel Nicolaus boosted their price objective on Jabil from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.50.

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).