Principal Financial Group Inc. Has $20.62 Million Stake in Jabil Inc. (NYSE:JBL)

Principal Financial Group Inc. increased its stake in Jabil Inc. (NYSE:JBL) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 143,266 shares of the technology company’s stock after purchasing an additional 5,993 shares during the period. Principal Financial Group Inc. owned approximately 0.13% of Jabil worth $20,616,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Jabil by 11.3% during the third quarter. FMR LLC now owns 5,116,308 shares of the technology company’s stock worth $613,087,000 after buying an additional 520,672 shares during the period. Primecap Management Co. CA lifted 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 in the last quarter. Pacer Advisors Inc. boosted its position in Jabil by 12,251.7% during the 3rd quarter. Pacer Advisors Inc. now owns 2,206,384 shares of the technology company’s stock worth $264,391,000 after acquiring an additional 2,188,521 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Jabil by 15.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 903,526 shares of the technology company’s stock worth $108,270,000 after acquiring an additional 118,376 shares in the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Jabil by 406.5% in the third quarter. Two Sigma Advisers LP now owns 722,800 shares of the technology company’s stock valued at $86,613,000 after purchasing an additional 580,100 shares during the last quarter. Institutional investors own 93.39% of the company’s stock.

Jabil Trading Down 2.0 %

Shares of NYSE:JBL opened at $159.28 on Tuesday. The company has a 50-day simple moving average of $157.71 and a 200 day simple moving average of $133.59. The company has a market capitalization of $17.39 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 1.65 and a beta of 1.23. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.72 and a current ratio of 1.06. Jabil Inc. has a 52-week low of $95.85 and a 52-week high of $174.80.

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

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.20%. The ex-dividend date is Tuesday, February 18th. Jabil’s payout ratio is presently 3.07%.

Insider Activity

In other news, Director Christopher S. Holland sold 3,400 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $162.27, for a total value of $551,718.00. Following the transaction, the director now owns 12,900 shares of the company’s stock, valued at approximately $2,093,283. This represents a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven A. Raymund sold 20,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $151.30, for a total value of $3,026,000.00. Following the transaction, the director now owns 119,108 shares in the company, valued at approximately $18,021,040.40. This trade represents a 14.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 77,400 shares of company stock valued at $12,804,458 over the last ninety days. 1.73% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on JBL. StockNews.com cut shares of Jabil from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. UBS Group increased their price objective on shares of Jabil from $128.00 to $152.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. The Goldman Sachs Group lifted their target price on Jabil from $160.00 to $179.00 and gave the company a “buy” rating in a research report on Monday. Stifel Nicolaus reiterated a “buy” rating and set a $160.00 target price (up previously from $150.00) on shares of Jabil in a report on Thursday, December 19th. Finally, Barclays raised their price target on Jabil from $157.00 to $179.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.83.

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).