Allworth Financial LP Purchases 97 Shares of Jabil, Inc. (NYSE:JBL)

Allworth Financial LP boosted its position in Jabil, Inc. (NYSE:JBL) by 22.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 529 shares of the technology company’s stock after purchasing an additional 97 shares during the period. Allworth Financial LP’s holdings in Jabil were worth $77,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Avantax Advisory Services Inc. raised its position in Jabil by 58.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,201 shares of the technology company’s stock worth $461,000 after purchasing an additional 1,181 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Jabil during the fourth quarter worth about $3,375,000. Cibc World Markets Corp grew its holdings in Jabil by 15.6% during the fourth quarter. Cibc World Markets Corp now owns 17,811 shares of the technology company’s stock worth $2,563,000 after acquiring an additional 2,401 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of Jabil in the fourth quarter valued at approximately $652,000. Finally, Teacher Retirement System of Texas increased its stake in Jabil by 55.7% during the 4th quarter. Teacher Retirement System of Texas now owns 278,651 shares of the technology company’s stock worth $40,098,000 after buying an additional 99,642 shares in the last quarter. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on JBL. Wall Street Zen downgraded Jabil from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 12th. JPMorgan Chase & Co. lifted their price objective on Jabil from $214.00 to $256.00 and gave the stock an “overweight” rating in a research report on Thursday. Stifel Nicolaus assumed coverage on shares of Jabil in a research report on Wednesday, July 2nd. They issued a “buy” rating and a $245.00 target price on the stock. UBS Group upped their price target on Jabil from $157.00 to $208.00 and gave the stock a “neutral” rating in a report on Wednesday, June 18th. Finally, The Goldman Sachs Group increased their target price on shares of Jabil from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, June 18th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Jabil presently has a consensus rating of “Buy” and a consensus target price of $231.71.

Jabil Stock Up 1.8%

Shares of NYSE JBL opened at $222.24 on Friday. Jabil, Inc. has a 52 week low of $95.85 and a 52 week high of $227.54. The company has a quick ratio of 0.64, a current ratio of 0.98 and a debt-to-equity ratio of 1.85. The company has a market cap of $23.85 billion, a P/E ratio of 43.15, a P/E/G ratio of 1.53 and a beta of 1.20. The business has a 50-day simple moving average of $191.22 and a two-hundred day simple moving average of $163.37.

Jabil (NYSE:JBL) last released its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 EPS for the quarter, beating 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 firm had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.03 billion. During the same quarter in the prior year, the firm earned $1.89 EPS. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. Research analysts anticipate that Jabil, Inc. will post 8.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Jabil

In other Jabil news, EVP Andrew Priestley sold 13,913 shares of the firm’s stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $203.17, for a total value of $2,826,704.21. Following the sale, the executive vice president directly owned 53,528 shares in the company, valued at $10,875,283.76. This trade represents a 20.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven A. Raymund sold 15,955 shares of the stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $216.83, for a total transaction of $3,459,522.65. Following the completion of the sale, the director directly owned 99,828 shares in the company, valued at approximately $21,645,705.24. The trade was a 13.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 297,431 shares of company stock worth $58,163,159. Corporate insiders own 1.73% of the company’s stock.

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).