New York State Common Retirement Fund grew its position in Jabil Inc. (NYSE:JBL – Free Report) by 6.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 139,547 shares of the technology company’s stock after acquiring an additional 8,502 shares during the quarter. New York State Common Retirement Fund owned 0.11% of Jabil worth $12,302,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Intech Investment Management LLC bought a new stake in shares of Jabil in the 1st quarter worth approximately $562,000. LPL Financial LLC lifted its position in shares of Jabil by 21.1% in the 1st quarter. LPL Financial LLC now owns 51,320 shares of the technology company’s stock worth $4,524,000 after acquiring an additional 8,955 shares during the period. Hennessy Advisors Inc. bought a new stake in shares of Jabil in the 1st quarter worth approximately $6,686,000. Atria Investments Inc bought a new stake in shares of Jabil in the 1st quarter worth approximately $1,309,000. Finally, B. Riley Wealth Advisors Inc. raised its holdings in shares of Jabil by 7.4% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 24,537 shares of the technology company’s stock worth $1,673,000 after buying an additional 1,697 shares in the last quarter. Institutional investors own 92.88% of the company’s stock.
In other news, Director Anousheh Ansari sold 3,000 shares of Jabil stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $108.61, for a total value of $325,830.00. Following the completion of the sale, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $4,127,180. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.75% of the company’s stock.
Jabil Stock Up 0.2 %
Jabil (NYSE:JBL – Get Free Report) last released its earnings results on Thursday, June 15th. The technology company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.87 by $0.12. The company had revenue of $8.48 billion during the quarter, compared to analysts’ expectations of $8.20 billion. Jabil had a return on equity of 39.61% and a net margin of 2.77%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the firm earned $1.52 EPS. On average, equities research analysts forecast that Jabil Inc. will post 7.94 EPS for the current year.
Jabil Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Tuesday, August 15th were paid a $0.08 dividend. The ex-dividend date was Monday, August 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.30%. Jabil’s dividend payout ratio (DPR) is currently 4.51%.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on JBL. Stifel Nicolaus increased their target price on Jabil from $90.00 to $105.00 in a report on Monday, June 12th. Credit Suisse Group increased their target price on Jabil from $110.00 to $125.00 in a report on Friday, June 16th. StockNews.com began coverage on Jabil in a report on Friday, August 18th. They issued a “hold” rating for the company. VNET Group reissued a “maintains” rating on shares of Jabil in a report on Friday, June 16th. Finally, JPMorgan Chase & Co. began coverage on Jabil in a report on Wednesday, July 5th. They set an “overweight” rating and a $110.00 price target for the company. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $103.67.
Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; 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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