Fifth Third Bancorp Purchases 757 Shares of Jabil, Inc. (NYSE:JBL)

Fifth Third Bancorp boosted its position in shares of Jabil, Inc. (NYSE:JBL) by 18.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,791 shares of the technology company’s stock after acquiring an additional 757 shares during the period. Fifth Third Bancorp’s holdings in Jabil were worth $652,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JBL. Van ECK Associates Corp raised its stake in Jabil by 1,327.3% during the 4th quarter. Van ECK Associates Corp now owns 22,680 shares of the technology company’s stock worth $3,264,000 after acquiring an additional 21,091 shares during the period. Vontobel Holding Ltd. raised its stake in Jabil by 44.6% during the 4th quarter. Vontobel Holding Ltd. now owns 8,523 shares of the technology company’s stock worth $1,226,000 after acquiring an additional 2,628 shares during the period. Principal Securities Inc. raised its stake in Jabil by 240.8% during the 4th quarter. Principal Securities Inc. now owns 9,599 shares of the technology company’s stock worth $1,381,000 after acquiring an additional 6,782 shares during the period. Allworth Financial LP grew its holdings in Jabil by 38.9% during the 4th quarter. Allworth Financial LP now owns 432 shares of the technology company’s stock valued at $62,000 after buying an additional 121 shares in the last quarter. Finally, J.W. Cole Advisors Inc. grew its holdings in Jabil by 17.4% during the 4th quarter. J.W. Cole Advisors Inc. now owns 2,062 shares of the technology company’s stock valued at $297,000 after buying an additional 305 shares in the last quarter. Institutional investors own 93.39% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Jabil news, Chairman Mark T. Mondello sold 20,000 shares of Jabil stock in a transaction on 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 directly owns 1,730,192 shares of the company’s stock, valued at $227,624,059.52. The trade was a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Dastoor sold 10,000 shares of Jabil stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $169.90, for a total transaction of $1,699,000.00. Following the transaction, the chief executive officer now directly owns 221,693 shares of the company’s stock, valued at $37,665,640.70. The trade was a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock valued at $7,665,200 over the last three months. 1.73% of the stock is owned by company insiders.

Jabil Trading Up 8.6%

JBL stock opened at $196.42 on Wednesday. The firm has a fifty day moving average price of $157.94 and a 200 day moving average price of $151.63. Jabil, Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $203.90. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.66 and a current ratio of 1.02. The firm has a market cap of $21.09 billion, a PE ratio of 46.99, a price-to-earnings-growth ratio of 1.76 and a beta of 1.14.

Jabil (NYSE:JBL) last posted its earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.27. Jabil had a net margin of 1.76% and a return on equity of 49.64%. The firm had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.03 billion. During the same period last year, the firm posted $1.89 earnings per share. Jabil’s revenue for the quarter was up 15.7% compared to the same quarter last year. Sell-side analysts anticipate that Jabil, Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend was Thursday, May 15th. Jabil’s payout ratio is 7.66%.

Jabil 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).