Kingswood Wealth Advisors LLC Grows Holdings in Jabil, Inc. (NYSE:JBL)

Kingswood Wealth Advisors LLC grew its holdings in Jabil, Inc. (NYSE:JBL) by 7.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,326 shares of the technology company’s stock after purchasing an additional 217 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Jabil were worth $453,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wellington Management Group LLP increased its stake in Jabil by 70,781.4% in the fourth quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company’s stock worth $835,876,000 after purchasing an additional 5,800,535 shares during the period. FMR LLC increased its stake in shares of Jabil by 8.1% during the fourth quarter. FMR LLC now owns 5,533,149 shares of the technology company’s stock valued at $796,220,000 after buying an additional 416,841 shares during the period. Geode Capital Management LLC increased its stake in shares of Jabil by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company’s stock valued at $404,024,000 after buying an additional 34,574 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Jabil by 18.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company’s stock valued at $270,187,000 after buying an additional 288,806 shares during the period. Finally, Norges Bank purchased a new position in shares of Jabil during the fourth quarter valued at $218,430,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Jabil Price Performance

Shares of JBL stock opened at $205.72 on Friday. Jabil, Inc. has a 1-year low of $95.85 and a 1-year high of $208.69. The stock’s 50-day moving average is $162.20 and its 200 day moving average is $153.07. The company has a market cap of $22.08 billion, a P/E ratio of 39.95, a PEG ratio of 1.99 and a beta of 1.14. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.98 and a quick ratio of 0.66.

Jabil (NYSE:JBL) last issued its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.27. The business had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.03 billion. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The company’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the company earned $1.89 earnings per share. Research analysts predict that Jabil, Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.16%. The ex-dividend date was Thursday, May 15th. Jabil’s dividend payout ratio is presently 6.21%.

Insiders Place Their Bets

In related news, SVP Adam E. Berry sold 4,233 shares of Jabil stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $200.36, for a total transaction of $848,123.88. Following the completion of the sale, the senior vice president now owns 13,047 shares of the company’s stock, valued at $2,614,096.92. The trade was a 24.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Dastoor sold 10,000 shares of Jabil stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $169.90, for a total value of $1,699,000.00. Following the sale, the chief executive officer now directly owns 221,693 shares of the company’s stock, valued at $37,665,640.70. This trade represents a 4.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 277,976 shares of company stock valued at $52,261,361. 1.73% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

JBL has been the topic of several research reports. The Goldman Sachs Group raised their price target on Jabil from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday. Wall Street Zen upgraded Jabil from a “hold” rating to a “buy” rating in a research note on Monday, May 19th. Argus upgraded Jabil from a “hold” rating to a “buy” rating in a research note on Wednesday. UBS Group raised their price objective on Jabil from $157.00 to $208.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Barclays raised their price objective on Jabil from $206.00 to $223.00 and gave the company an “overweight” rating in a research report on Tuesday, June 17th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Jabil has an average rating of “Buy” and an average target price of $213.57.

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).