HighTower Advisors LLC Boosts Stock Position in Jabil Inc. (NYSE:JBL)

HighTower Advisors LLC grew its stake in shares of Jabil Inc. (NYSE:JBL – Get Rating) by 9.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,211 shares of the technology company’s stock after acquiring an additional 3,539 shares during the period. HighTower Advisors LLC’s holdings in Jabil were worth $2,673,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Raleigh Capital Management Inc. raised its position in shares of Jabil by 391.8% in the fourth quarter. Raleigh Capital Management Inc. now owns 418 shares of the technology company’s stock worth $29,000 after buying an additional 333 shares in the last quarter. Lindbrook Capital LLC raised its position in shares of Jabil by 29.6% in the fourth quarter. Lindbrook Capital LLC now owns 586 shares of the technology company’s stock worth $40,000 after buying an additional 134 shares in the last quarter. Zions Bancorporation N.A. purchased a new stake in shares of Jabil in the first quarter worth $40,000. Capital Analysts LLC purchased a new stake in shares of Jabil in the fourth quarter worth $51,000. Finally, Accurate Wealth Management LLC purchased a new stake in shares of Jabil in the fourth quarter worth $60,000. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Jabil Stock Up 0.7 %

Shares of NYSE:JBL opened at $84.58 on Tuesday. The stock’s 50-day moving average price is $81.42 and its 200-day moving average price is $77.18. Jabil Inc. has a 12-month low of $48.80 and a 12-month high of $89.10. The stock has a market capitalization of $11.22 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 0.90 and a beta of 1.44. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 0.96.

Jabil (NYSE:JBL – Get Rating) last announced its quarterly earnings data on Thursday, March 16th. The technology company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.03. Jabil had a return on equity of 39.80% and a net margin of 2.74%. The firm had revenue of $8.13 billion for the quarter, compared to analysts’ expectations of $8.09 billion. On average, equities analysts anticipate that Jabil Inc. will post 7.79 earnings per share for the current year.

Jabil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of record on Monday, May 15th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, May 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.38%. Jabil’s dividend payout ratio is currently 4.64%.

Insider Transactions at Jabil

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

Wall Street Analyst Weigh In

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