Teacher Retirement System of Texas lifted its stake in Jabil Inc. (NYSE:JBL – Get Rating) by 183.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 62,314 shares of the technology company’s stock after buying an additional 40,315 shares during the period. Teacher Retirement System of Texas’ holdings in Jabil were worth $3,596,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in JBL. Credit Agricole S A lifted its stake in shares of Jabil by 2,786.9% in the second quarter. Credit Agricole S A now owns 1,818,657 shares of the technology company’s stock valued at $93,133,000 after buying an additional 1,755,660 shares during the period. Invesco Ltd. lifted its stake in shares of Jabil by 230.6% in the first quarter. Invesco Ltd. now owns 1,863,230 shares of the technology company’s stock valued at $115,018,000 after buying an additional 1,299,593 shares during the period. Prudential Financial Inc. lifted its stake in shares of Jabil by 239.1% in the second quarter. Prudential Financial Inc. now owns 924,838 shares of the technology company’s stock valued at $48,052,000 after buying an additional 652,083 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of Jabil in the first quarter valued at about $23,055,000. Finally, Cerity Partners LLC bought a new stake in shares of Jabil in the second quarter valued at about $11,396,000. Institutional investors own 88.45% of the company’s stock.
In other news, Director Thomas A. Sansone sold 20,000 shares of the stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $66.50, for a total transaction of $1,330,000.00. Following the sale, the director now directly owns 393,325 shares of the company’s stock, valued at $26,156,112.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Jabil news, Director Thomas A. Sansone sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $66.50, for a total value of $1,330,000.00. Following the transaction, the director now directly owns 393,325 shares of the company’s stock, valued at $26,156,112.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Daryn G. Smith sold 17,618 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $65.96, for a total transaction of $1,162,083.28. Following the completion of the transaction, the senior vice president now directly owns 60,819 shares in the company, valued at $4,011,621.24. The disclosure for this sale can be found here. Insiders have sold 231,961 shares of company stock valued at $17,077,557 over the last three months. 2.75% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Jabil Stock Performance
NYSE JBL opened at $80.64 on Wednesday. The firm has a market cap of $10.75 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 0.86 and a beta of 1.37. The company has a 50 day moving average of $71.37 and a 200-day moving average of $64.00. The company has a current ratio of 1.02, a quick ratio of 0.57 and a debt-to-equity ratio of 1.02. Jabil Inc. has a 1-year low of $48.80 and a 1-year high of $81.62.
Jabil (NYSE:JBL – Get Rating) last released its quarterly earnings results on Thursday, December 15th. The technology company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.28). Jabil had a net margin of 2.83% and a return on equity of 40.43%. The company had revenue of $9.64 billion for the quarter, compared to the consensus estimate of $9.28 billion. On average, equities analysts forecast that Jabil Inc. will post 7.81 earnings per share for the current fiscal year.
Jabil declared that its Board of Directors has initiated a share repurchase plan on Tuesday, September 27th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the technology company to purchase up to 12.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
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.
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