Convergence Investment Partners LLC raised its position in Jabil Inc (NYSE:JBL) by 278.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 156,642 shares of the technology company’s stock after purchasing an additional 115,243 shares during the quarter. Convergence Investment Partners LLC’s holdings in Jabil were worth $4,112,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. IHT Wealth Management LLC increased its position in shares of Jabil by 142.6% in the second quarter. IHT Wealth Management LLC now owns 359 shares of the technology company’s stock valued at $159,000 after acquiring an additional 211 shares during the period. Advisor Group Inc. increased its position in shares of Jabil by 68.2% in the second quarter. Advisor Group Inc. now owns 5,765 shares of the technology company’s stock valued at $168,000 after acquiring an additional 2,337 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Jabil by 9.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,054 shares of the technology company’s stock valued at $177,000 after acquiring an additional 547 shares during the period. Stevens Capital Management LP purchased a new position in shares of Jabil in the second quarter valued at about $206,000. Finally, Bridgewater Associates LP purchased a new position in shares of Jabil in the second quarter valued at about $219,000. Hedge funds and other institutional investors own 95.83% of the company’s stock.

A number of equities analysts have issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $37.00 price objective on shares of Jabil in a research report on Wednesday, September 27th. ValuEngine cut shares of Jabil from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. Stifel Nicolaus restated a “hold” rating and issued a $30.00 price objective on shares of Jabil in a research report on Thursday, September 28th. Zacks Investment Research upgraded shares of Jabil from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective on the stock in a research report on Monday, October 2nd. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $40.00 target price on shares of Jabil in a research note on Thursday, September 28th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $32.45.

In related news, CEO Mark T. Mondello sold 30,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $28.33, for a total transaction of $849,900.00. Following the sale, the chief executive officer now owns 1,725,499 shares of the company’s stock, valued at $48,883,386.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO William D. Muir, Jr. sold 26,420 shares of the business’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $28.00, for a total transaction of $739,760.00. Following the sale, the chief operating officer now directly owns 341,840 shares in the company, valued at approximately $9,571,520. The disclosure for this sale can be found here. Insiders have sold 108,920 shares of company stock worth $3,082,535 in the last three months. 2.60% of the stock is currently owned by insiders.

Shares of Jabil Inc (NYSE:JBL) traded up $0.22 on Tuesday, hitting $27.66. 1,926,000 shares of the stock were exchanged, compared to its average volume of 1,957,822. The company has a market cap of $4,980.00, a price-to-earnings ratio of 47.69, a price-to-earnings-growth ratio of 1.12 and a beta of 0.55. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.95 and a quick ratio of 0.50. Jabil Inc has a 52-week low of $22.88 and a 52-week high of $31.70.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Thursday, December 14th. The technology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.79 by $0.01. Jabil had a net margin of 0.54% and a return on equity of 12.95%. The business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same quarter in the previous year, the firm posted $0.69 earnings per share. Jabil’s quarterly revenue was up 9.4% on a year-over-year basis. sell-side analysts expect that Jabil Inc will post 2.06 earnings per share for the current fiscal year.

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Jabil Company Profile

Jabil Inc, formerly Jabil Circuit, Inc, provides electronic manufacturing services and solutions throughout the world. The Company operates in two segments, which include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The Company’s EMS segment is focused on leveraging information technology (IT), supply chain design and engineering, technologies centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a range of markets.

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Institutional Ownership by Quarter for Jabil (NYSE:JBL)

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