Highbridge Capital Management LLC Invests $3.43 Million in Jabil Inc (JBL)
Highbridge Capital Management LLC bought a new position in shares of Jabil Inc (NYSE:JBL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 120,020 shares of the technology company’s stock, valued at approximately $3,426,000. Highbridge Capital Management LLC owned approximately 0.07% of Jabil as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in JBL. IHT Wealth Management LLC grew its stake in Jabil by 142.6% during the 2nd 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 in the last quarter. Advisor Group Inc. grew its stake in Jabil by 68.2% during the 2nd 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Jabil by 9.9% during the 2nd 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 in the last quarter. Stevens Capital Management LP purchased a new stake in Jabil during the 2nd quarter valued at about $206,000. Finally, Bridgewater Associates LP purchased a new stake in Jabil during the 2nd quarter valued at about $219,000. 95.10% of the stock is owned by institutional investors and hedge funds.
Jabil Inc (NYSE:JBL) opened at $28.53 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 0.69. The firm has a market cap of $5,020.20, a PE ratio of 15.28, a price-to-earnings-growth ratio of 1.07 and a beta of 0.55. Jabil Inc has a fifty-two week low of $21.42 and a fifty-two week high of $31.70.
Jabil (NYSE:JBL) last posted its earnings results on Wednesday, September 27th. The technology company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.86 billion. Jabil had a net margin of 0.68% and a return on equity of 14.47%. Jabil’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.28 EPS. equities research analysts predict that Jabil Inc will post 2.22 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th were issued a $0.08 dividend. The ex-dividend date was Tuesday, November 14th. This represents a $0.32 annualized dividend and a dividend yield of 1.12%. Jabil’s dividend payout ratio is currently 46.38%.
In other news, CEO Mark T. Mondello sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $29.02, for a total value of $870,600.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, President William E. Peters sold 3,580 shares of the company’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $28.74, for a total transaction of $102,889.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,680 shares of company stock worth $4,204,246. Company insiders own 2.90% of the company’s stock.
JBL has been the subject of several research reports. ValuEngine raised shares of Jabil from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 7th. Citigroup reaffirmed a “sell” rating and set a $28.00 price objective on shares of Jabil in a research note on Thursday, September 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $37.00 price objective on shares of Jabil in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Jabil from a “hold” rating to a “strong-buy” rating and set a $34.00 target price on the stock in a report on Monday, October 2nd. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $30.00 target price on shares of Jabil in a report on Thursday, September 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. Jabil has an average rating of “Hold” and a consensus price target of $30.50.
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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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