Principal Financial Group Inc. Increases Holdings in Jabil Inc (JBL)

Principal Financial Group Inc. boosted its position in Jabil Inc (NYSE:JBL) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 764,370 shares of the technology company’s stock after purchasing an additional 9,029 shares during the period. Principal Financial Group Inc. owned about 0.44% of Jabil worth $21,960,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Ontario Teachers Pension Plan Board purchased a new position in Jabil in the first quarter worth about $7,516,000. Teza Capital Management LLC boosted its position in Jabil by 88.0% in the first quarter. Teza Capital Management LLC now owns 53,964 shares of the technology company’s stock worth $1,550,000 after purchasing an additional 25,253 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new position in Jabil in the first quarter worth about $2,172,000. Jump Trading LLC purchased a new position in Jabil in the first quarter worth about $225,000. Finally, New York State Common Retirement Fund boosted its position in Jabil by 0.4% in the first quarter. New York State Common Retirement Fund now owns 535,343 shares of the technology company’s stock worth $15,380,000 after purchasing an additional 2,325 shares during the last quarter. 88.00% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have issued reports on JBL. Zacks Investment Research raised Jabil from a “sell” rating to a “hold” rating in a research report on Wednesday, May 16th. ValuEngine cut Jabil from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, Standpoint Research raised Jabil from a “hold” rating to a “buy” rating in a research report on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $33.00.



In related news, President William E. Peters sold 13,915 shares of Jabil stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $28.07, for a total transaction of $390,594.05. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas A. Sansone sold 15,000 shares of Jabil stock in a transaction that occurred on Friday, March 23rd. The shares were sold at an average price of $29.88, for a total value of $448,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,774 shares of company stock worth $1,666,531. Insiders own 2.60% of the company’s stock.

Jabil opened at $26.80 on Wednesday, MarketBeat reports. Jabil Inc has a twelve month low of $23.70 and a twelve month high of $31.77. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.51 and a current ratio of 1.02. The stock has a market cap of $4.73 billion, a PE ratio of 14.49, a P/E/G ratio of 1.10 and a beta of 0.42.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Thursday, June 14th. The technology company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.01. Jabil had a return on equity of 15.68% and a net margin of 0.89%. The firm had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the previous year, the firm earned $0.31 EPS. The business’s quarterly revenue was up 21.1% on a year-over-year basis. equities analysts forecast that Jabil Inc will post 2.05 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Tuesday, May 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, May 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.19%. Jabil’s payout ratio is currently 17.30%.

Jabil announced that its Board of Directors has initiated a stock repurchase plan on Thursday, June 14th that allows the company to buyback $350.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 7.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

About Jabil

Jabil Inc provides electronic manufacturing services and solutions worldwide. The company operates through two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. It offers electronics design, production, and product management services. The company provides 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).

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Institutional Ownership by Quarter for Jabil (NYSE:JBL)

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