Canada Pension Plan Investment Board Grows Stock Position in Jabil Inc. (NYSE:JBL)

Canada Pension Plan Investment Board boosted its position in Jabil Inc. (NYSE:JBL) by 129.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,000 shares of the technology company’s stock after purchasing an additional 33,256 shares during the period. Canada Pension Plan Investment Board owned approximately 0.05% of Jabil worth $6,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of JBL. Benjamin Edwards Inc. purchased a new position in shares of Jabil during the first quarter worth approximately $25,000. HHM Wealth Advisors LLC purchased a new stake in shares of Jabil during the second quarter valued at $28,000. ORG Partners LLC acquired a new position in shares of Jabil in the first quarter valued at about $29,000. Innealta Capital LLC purchased a new position in Jabil during the 2nd quarter worth approximately $31,000. Finally, Riverview Trust Co acquired a new position in Jabil during the first quarter valued at $33,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on JBL. Barclays lowered their price objective on Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. UBS Group lowered their price target on Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, June 21st. JPMorgan Chase & Co. decreased their target price on shares of Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Bank of America cut their price objective on shares of Jabil from $150.00 to $135.00 and set a “buy” rating for the company in a research report on Friday, June 21st. Finally, Stifel Nicolaus decreased their price target on Jabil from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $139.88.

Insider Activity

In related 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 transaction of $145,525.00. Following the completion of the transaction, the executive vice president now owns 112,753 shares in the company, valued at $13,126,704.26. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP May Yee Yap sold 4,274 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 24,829 shares in the company, valued at approximately $2,905,986.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Frederic E. Mccoy sold 1,250 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 112,753 shares in the company, valued at $13,126,704.26. The disclosure for this sale can be found here. Company insiders own 2.62% of the company’s stock.

Jabil Trading Down 0.2 %

JBL opened at $112.86 on Wednesday. The business has a fifty day moving average price of $106.93 and a 200 day moving average price of $116.86. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.74. Jabil Inc. has a 12 month low of $95.85 and a 12 month high of $156.94. The stock has a market capitalization of $12.80 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 1.75 and a beta of 1.25.

Jabil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Thursday, August 15th. Jabil’s dividend payout ratio is presently 2.91%.

Jabil 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).