QRG Capital Management Inc. Raises Stock Position in Jabil, Inc. (NYSE:JBL)

QRG Capital Management Inc. grew its stake in Jabil, Inc. (NYSE:JBL) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,978 shares of the technology company’s stock after buying an additional 132 shares during the period. QRG Capital Management Inc.’s holdings in Jabil were worth $813,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Wellington Management Group LLP lifted its holdings in shares of Jabil by 70,781.4% in the 4th quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company’s stock worth $835,876,000 after acquiring an additional 5,800,535 shares during the last quarter. FMR LLC lifted its holdings in shares of Jabil by 8.1% in the 4th quarter. FMR LLC now owns 5,533,149 shares of the technology company’s stock worth $796,220,000 after acquiring an additional 416,841 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Jabil by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company’s stock worth $404,024,000 after acquiring an additional 34,574 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Jabil by 18.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company’s stock worth $270,187,000 after acquiring an additional 288,806 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Jabil in the 4th quarter worth approximately $218,430,000. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Jabil Trading Up 0.5%

JBL stock opened at $205.72 on Friday. The firm has a fifty day moving average price of $162.20 and a 200 day moving average price of $153.07. Jabil, Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $208.69. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.66 and a current ratio of 0.98. The firm has a market cap of $22.08 billion, a PE ratio of 39.95, a price-to-earnings-growth ratio of 1.99 and a beta of 1.14.

Jabil (NYSE:JBL) last posted its quarterly earnings data on Tuesday, June 17th. The technology company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.28 by $0.27. Jabil had a net margin of 2.02% and a return on equity of 60.19%. The company had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.03 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. Jabil’s quarterly revenue 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Thursday, May 15th were given a $0.08 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.16%. Jabil’s dividend payout ratio is currently 6.21%.

Wall Street Analyst Weigh In

JBL has been the subject of a number of recent analyst reports. Barclays upped their price target on shares of Jabil from $206.00 to $223.00 and gave the company an “overweight” rating in a report on Tuesday, June 17th. Argus upgraded shares of Jabil from a “hold” rating to a “buy” rating in a report on Wednesday. Raymond James Financial reiterated a “strong-buy” rating and set a $230.00 price target (up from $170.00) on shares of Jabil in a report on Wednesday. UBS Group upped their price target on shares of Jabil from $157.00 to $208.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on shares of Jabil from $180.00 to $214.00 and gave the company an “overweight” rating in a report on Wednesday. One research 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. According to MarketBeat.com, Jabil presently has an average rating of “Buy” and a consensus price target of $213.57.

Insider Activity at Jabil

In other news, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $131.56, for a total transaction of $2,631,200.00. Following the transaction, the chairman now owns 1,730,192 shares in the company, valued at $227,624,059.52. This trade represents a 1.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP May Yee Yap sold 6,787 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $206.00, for a total value of $1,398,122.00. Following the transaction, the senior vice president now owns 25,582 shares in the company, valued at $5,269,892. This trade represents a 20.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 277,976 shares of company stock worth $52,261,361 over the last quarter. Insiders own 1.73% of the company’s stock.

About Jabil

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).