Geode Capital Management LLC Increases Stake in Jabil Inc. (NYSE:JBL)

Posted by Defense World Staff on Jun 8th, 2023

Geode Capital Management LLC lifted its stake in Jabil Inc. (NYSE:JBL – Get Rating) by 1.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,837,156 shares of the technology company’s stock after purchasing an additional 24,256 shares during the quarter. Geode Capital Management LLC owned about 1.38% of Jabil worth $125,294,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of JBL. Cetera Advisor Networks LLC raised its position in shares of Jabil by 4.7% in the 1st quarter. Cetera Advisor Networks LLC now owns 3,989 shares of the technology company’s stock valued at $246,000 after purchasing an additional 180 shares during the last quarter. Private Advisor Group LLC purchased a new position in shares of Jabil in the 1st quarter valued at approximately $399,000. Great West Life Assurance Co. Can raised its position in Jabil by 10.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 83,585 shares of the technology company’s stock worth $5,312,000 after buying an additional 7,933 shares during the last quarter. Sei Investments Co. raised its position in Jabil by 58.6% during the 1st quarter. Sei Investments Co. now owns 382,918 shares of the technology company’s stock worth $23,633,000 after buying an additional 141,511 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Jabil by 656.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 21,700 shares of the technology company’s stock worth $1,340,000 after buying an additional 18,832 shares during the last quarter. 88.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Jabil

In related news, CEO Steven D. Borges sold 8,483 shares of Jabil stock in a transaction on Wednesday, March 22nd. The shares were sold at an average price of $83.40, for a total value of $707,482.20. Following the sale, the chief executive officer now owns 159,129 shares of the company’s stock, valued at approximately $13,271,358.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Jabil news, CEO Steven D. Borges sold 8,483 shares of Jabil stock in a transaction on Wednesday, March 22nd. The shares were sold at an average price of $83.40, for a total transaction of $707,482.20. Following the sale, the chief executive officer now owns 159,129 shares of the company’s stock, valued at approximately $13,271,358.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Francis Mckay sold 1,197 shares of Jabil stock in a transaction on Wednesday, March 22nd. The stock was sold at an average price of $82.91, for a total transaction of $99,243.27. Following the sale, the senior vice president now directly owns 51,084 shares in the company, valued at approximately $4,235,374.44. The disclosure for this sale can be found here. 2.75% of the stock is owned by corporate insiders.

Jabil Price Performance

Shares of NYSE JBL opened at $93.74 on Thursday. The stock has a market capitalization of $12.44 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 1.00 and a beta of 1.43. Jabil Inc. has a 12 month low of $48.80 and a 12 month high of $94.89. The firm’s 50 day simple moving average is $83.39 and its 200-day simple moving average is $79.17. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.04 and a quick ratio of 0.55.

Jabil (NYSE:JBL – Get Rating) last issued its quarterly earnings data on Thursday, March 16th. The technology company reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.03. Jabil had a net margin of 2.74% and a return on equity of 39.80%. The business had revenue of $8.13 billion for the quarter, compared to analysts’ expectations of $8.09 billion. Analysts expect that Jabil Inc. will post 7.77 EPS for the current year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 2nd. Investors of record on Monday, May 15th were paid a $0.08 dividend. The ex-dividend date was Friday, May 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.34%. Jabil’s dividend payout ratio is currently 4.64%.

Analyst Ratings Changes

A number of equities analysts have issued reports on JBL shares. The Goldman Sachs Group raised their price target on shares of Jabil from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, March 17th. Raymond James raised their price target on shares of Jabil from $84.00 to $100.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, March 14th. StockNews.com started coverage on shares of Jabil in a research report on Thursday, May 18th. They set a “buy” rating for the company. Finally, Credit Suisse Group raised their price target on shares of Jabil from $90.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 21st. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $92.20.

About Jabil

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Jabil, Inc engages in the provision of electronic manufacturing services and solutions. It offers electronics design, production, product management, and repair services to companies in the automotive and transportation, capital equipment, consumer lifestyles and wearable technologies, computing and storage, defense and aerospace, digital home, healthcare, industrial and energy, mobility, networking and telecommunications, packaging, point of sale, and printing industries.