Harbor Capital Advisors Inc. Acquires 116 Shares of Jabil Inc. (NYSE:JBL)

Harbor Capital Advisors Inc. raised its holdings in shares of Jabil Inc. (NYSE:JBL) by 110.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 221 shares of the technology company’s stock after acquiring an additional 116 shares during the period. Harbor Capital Advisors Inc.’s holdings in Jabil were worth $30,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in JBL. SBI Securities Co. Ltd. acquired a new position in shares of Jabil in the 4th quarter valued at $27,000. Murphy & Mullick Capital Management Corp acquired a new position in Jabil in the 4th quarter worth $29,000. Millstone Evans Group LLC acquired a new position in Jabil in the 4th quarter worth $37,000. First Horizon Advisors Inc. boosted its stake in shares of Jabil by 90.3% during the 4th quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company’s stock worth $39,000 after buying an additional 130 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Jabil by 113.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the technology company’s stock worth $43,000 after buying an additional 158 shares during the last quarter. Institutional investors own 93.39% of the company’s stock.

Insider Activity

In related news, CEO Michael Dastoor sold 10,000 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $169.90, for a total value of $1,699,000.00. Following the completion of the transaction, the chief executive officer now owns 221,693 shares in the company, valued at $37,665,640.70. This represents a 4.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $131.56, for a total transaction of $2,631,200.00. Following the completion of the transaction, the chairman now owns 1,730,192 shares of the company’s stock, valued at $227,624,059.52. This represents a 1.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock valued at $7,665,200 over the last quarter. Corporate insiders own 1.73% of the company’s stock.

Jabil Stock Performance

JBL opened at $181.08 on Tuesday. The firm has a market capitalization of $19.44 billion, a PE ratio of 17.36, a PEG ratio of 1.65 and a beta of 1.14. Jabil Inc. has a twelve month low of $95.85 and a twelve month high of $182.14. The firm’s 50-day moving average price is $156.76 and its 200 day moving average price is $151.32. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81.

Jabil (NYSE:JBL) last posted its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The business had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same quarter in the prior year, the company posted $1.68 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. As a group, sell-side analysts expect that Jabil Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.18%. The ex-dividend date was Thursday, May 15th. Jabil’s payout ratio is currently 7.66%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on JBL shares. UBS Group increased their price target on shares of Jabil from $152.00 to $157.00 and gave the company a “neutral” rating in a report on Friday, March 21st. The Goldman Sachs Group increased their price target on Jabil from $165.00 to $188.00 and gave the company a “buy” rating in a research report on Tuesday, June 10th. Barclays raised their price target on Jabil from $184.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, June 10th. Wall Street Zen upgraded Jabil from a “hold” rating to a “buy” rating in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. dropped their price target on Jabil from $175.00 to $154.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $169.17.

Jabil Company Profile

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).