Symmetry Investments LP Makes New Investment in Jabil Inc. (NYSE:JBL)

Symmetry Investments LP bought a new position in Jabil Inc. (NYSE:JBL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,746 shares of the technology company’s stock, valued at approximately $625,000.

Several other hedge funds also recently bought and sold shares of JBL. Vanguard Group Inc. increased its position in Jabil by 10.5% in the 4th quarter. Vanguard Group Inc. now owns 15,070,238 shares of the technology company’s stock worth $1,919,948,000 after purchasing an additional 1,427,429 shares during the last quarter. Artisan Partners Limited Partnership increased its position in Jabil by 36.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,339,559 shares of the technology company’s stock worth $170,660,000 after purchasing an additional 359,818 shares during the last quarter. Bank of New York Mellon Corp increased its position in Jabil by 29.0% in the 2nd 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 last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Jabil during the 1st quarter valued at about $39,040,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Jabil by 72.0% during the 2nd quarter. Victory Capital Management Inc. now owns 490,499 shares of the technology company’s stock valued at $53,361,000 after acquiring an additional 205,331 shares during the last quarter. 93.39% of the stock is owned by institutional investors and hedge funds.

Jabil Price Performance

Shares of NYSE:JBL opened at $113.96 on Friday. The business has a 50 day moving average price of $107.08 and a 200 day moving average price of $117.67. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $156.94. The company has a market cap of $12.93 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 1.75 and a beta of 1.25. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 1.26.

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

Jabil Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently commented on JBL shares. JPMorgan Chase & Co. lowered their price objective on Jabil from $137.00 to $133.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Stifel Nicolaus lowered their price objective on Jabil from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. UBS Group lowered their price objective on Jabil from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, June 21st. Barclays lowered their price objective on Jabil from $149.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. Finally, Bank of America lowered their price objective on Jabil from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Friday, June 21st. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $139.88.

Insider Transactions at Jabil

In other news, EVP Frederic E. Mccoy sold 1,250 shares of Jabil stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $116.42, for a total transaction 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 through the SEC website. In related news, SVP May Yee Yap sold 4,274 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $117.04, for a total value of $500,228.96. Following the sale, the senior vice president now owns 24,829 shares of the company’s stock, valued at approximately $2,905,986.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 completion of the sale, the executive vice president now directly owns 112,753 shares in the company, valued at approximately $13,126,704.26. The disclosure for this sale can be found here. 2.62% of the stock is owned by insiders.

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).