Jabil, Inc. (NYSE:JBL) Shares Purchased by LPL Financial LLC

LPL Financial LLC raised its position in shares of Jabil, Inc. (NYSE:JBL) by 12.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,878 shares of the technology company’s stock after buying an additional 5,130 shares during the quarter. LPL Financial LLC’s holdings in Jabil were worth $6,243,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Jabil by 1.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 222,432 shares of the technology company’s stock valued at $30,266,000 after acquiring an additional 2,531 shares during the last quarter. Spectrum Wealth Counsel LLC lifted its holdings in Jabil by 2,839.3% in the first quarter. Spectrum Wealth Counsel LLC now owns 13,697 shares of the technology company’s stock worth $1,864,000 after acquiring an additional 13,231 shares during the last quarter. Empirical Finance LLC lifted its holdings in Jabil by 2.0% in the first quarter. Empirical Finance LLC now owns 10,404 shares of the technology company’s stock worth $1,416,000 after acquiring an additional 206 shares during the last quarter. TD Asset Management Inc lifted its holdings in Jabil by 22.3% in the first quarter. TD Asset Management Inc now owns 146,949 shares of the technology company’s stock worth $19,995,000 after acquiring an additional 26,798 shares during the last quarter. Finally, HB Wealth Management LLC lifted its holdings in Jabil by 30.8% in the first quarter. HB Wealth Management LLC now owns 4,834 shares of the technology company’s stock worth $658,000 after acquiring an additional 1,138 shares during the last quarter. Institutional investors and hedge funds own 93.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Argus raised Jabil from a “hold” rating to a “buy” rating in a report on Wednesday, June 18th. JPMorgan Chase & Co. boosted their target price on Jabil from $214.00 to $256.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Bank of America boosted their target price on Jabil from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, June 20th. UBS Group boosted their target price on Jabil from $157.00 to $208.00 and gave the stock a “neutral” rating in a report on Wednesday, June 18th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $230.00 target price (up previously from $170.00) on shares of Jabil in a report on Wednesday, June 18th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $231.71.

Jabil Trading Down 0.8%

NYSE JBL opened at $222.45 on Tuesday. Jabil, Inc. has a twelve month low of $99.67 and a twelve month high of $232.84. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.64 and a current ratio of 0.98. The stock has a market cap of $23.87 billion, a price-to-earnings ratio of 43.19, a PEG ratio of 1.57 and a beta of 1.20. The firm’s 50 day moving average price is $210.61 and its two-hundred day moving average price is $171.30.

Jabil (NYSE:JBL) last posted its quarterly earnings data 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 firm had revenue of $7.83 billion for the quarter, compared to analysts’ expectations of $7.03 billion. Jabil had a net margin of 2.02% and a return on equity of 60.19%. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.89 EPS. Equities analysts anticipate that Jabil, Inc. will post 8.05 EPS for the current year.

Jabil Dividend Announcement

The business also recently announced a dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Monday, August 18th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a dividend yield of 14.0%. Jabil’s dividend payout ratio (DPR) is 6.21%.

Insider Activity at Jabil

In related news, EVP Andrew Priestley sold 3,702 shares of the company’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $225.00, for a total value of $832,950.00. Following the completion of the sale, the executive vice president directly owned 44,833 shares in the company, valued at approximately $10,087,425. This represents a 7.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Anousheh Ansari sold 1,000 shares of the company’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $222.75, for a total transaction of $222,750.00. Following the completion of the sale, the director owned 36,400 shares of the company’s stock, valued at $8,108,100. This represents a 2.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 342,847 shares of company stock worth $68,233,847. 1.73% of the stock is currently owned by company insiders.

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).