Cullen Frost Bankers Inc. Increases Stock Holdings in Jabil Inc. (NYSE:JBL)

Cullen Frost Bankers Inc. increased its holdings in shares of Jabil Inc. (NYSE:JBL) by 390.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,658 shares of the technology company’s stock after acquiring an additional 1,320 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Jabil were worth $239,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Meyer Handelman Co. bought a new stake in Jabil during the fourth quarter worth $7,334,000. Davis Investment Partners LLC bought a new stake in Jabil during the fourth quarter worth $1,433,000. Truist Financial Corp lifted its holdings in Jabil by 50.4% during the fourth quarter. Truist Financial Corp now owns 12,037 shares of the technology company’s stock worth $1,732,000 after acquiring an additional 4,034 shares during the period. Nicola Wealth Management LTD. lifted its holdings in Jabil by 54.9% during the third quarter. Nicola Wealth Management LTD. now owns 39,500 shares of the technology company’s stock worth $4,733,000 after acquiring an additional 14,000 shares during the period. Finally, Merit Financial Group LLC purchased a new stake in shares of Jabil during the 4th quarter worth approximately $235,000. 93.39% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director John C. Plant sold 50,000 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $172.55, for a total value of $8,627,500.00. Following the completion of the transaction, the director now directly owns 5,900 shares in the company, valued at approximately $1,018,045. The trade was a 89.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher S. Holland sold 3,400 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $162.27, for a total transaction of $551,718.00. Following the completion of the transaction, the director now owns 12,900 shares of the company’s stock, valued at $2,093,283. This trade represents a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,400 shares of company stock worth $12,804,458 in the last three months. Corporate insiders own 1.73% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on JBL. Stifel Nicolaus reaffirmed a “buy” rating and issued a $160.00 price target (up previously from $150.00) on shares of Jabil in a report on Thursday, December 19th. Barclays lifted their price target on shares of Jabil from $157.00 to $179.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. StockNews.com cut shares of Jabil from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. UBS Group lifted their price objective on shares of Jabil from $128.00 to $152.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group lifted their price objective on shares of Jabil from $160.00 to $179.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $158.83.

Jabil Stock Up 1.1 %

JBL opened at $139.74 on Friday. The company has a fifty day moving average price of $158.43 and a 200-day moving average price of $136.12. The firm has a market capitalization of $15.26 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 1.65 and a beta of 1.19. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72. Jabil Inc. has a one year low of $95.85 and a one year high of $174.80.

Jabil (NYSE:JBL) last released its quarterly earnings results on Wednesday, December 18th. The technology company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.12. The firm had revenue of $6.99 billion during the quarter, compared to analyst estimates of $6.61 billion. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The business’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.60 EPS. Equities research analysts expect that Jabil Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.08 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.23%. Jabil’s dividend payout ratio (DPR) is currently 3.07%.

Jabil Company Profile

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).