Belpointe Asset Management LLC Acquires Shares of 1,822 Jabil, Inc. $JBL

Belpointe Asset Management LLC acquired a new stake in Jabil, Inc. (NYSE:JBL) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,822 shares of the technology company’s stock, valued at approximately $248,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Groupe la Francaise raised its position in Jabil by 35.2% in the first quarter. Groupe la Francaise now owns 246 shares of the technology company’s stock valued at $34,000 after purchasing an additional 64 shares during the period. Keeley Teton Advisors LLC increased its position in shares of Jabil by 0.3% during the first quarter. Keeley Teton Advisors LLC now owns 25,398 shares of the technology company’s stock worth $3,456,000 after acquiring an additional 64 shares during the last quarter. Cordatus Wealth Management LLC increased its position in shares of Jabil by 2.9% during the first quarter. Cordatus Wealth Management LLC now owns 2,429 shares of the technology company’s stock worth $330,000 after acquiring an additional 68 shares during the last quarter. AlphaCore Capital LLC increased its position in shares of Jabil by 2.4% during the first quarter. AlphaCore Capital LLC now owns 3,206 shares of the technology company’s stock worth $436,000 after acquiring an additional 76 shares during the last quarter. Finally, UniSuper Management Pty Ltd increased its position in shares of Jabil by 0.3% during the first quarter. UniSuper Management Pty Ltd now owns 30,797 shares of the technology company’s stock worth $4,191,000 after acquiring an additional 81 shares during the last quarter. 93.39% of the stock is owned by hedge funds and other institutional investors.

Jabil Price Performance

NYSE JBL opened at $215.97 on Tuesday. The stock has a market capitalization of $23.18 billion, a P/E ratio of 41.94, a P/E/G ratio of 1.25 and a beta of 1.25. Jabil, Inc. has a 1 year low of $103.82 and a 1 year high of $232.84. The business’s fifty day moving average is $216.50 and its two-hundred day moving average is $179.58. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.64 and a current ratio of 0.98.

Jabil (NYSE:JBL) last announced its earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share (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 company had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.03 billion. During the same period in the previous year, the business earned $1.89 EPS. The company’s revenue was up 15.7% on a year-over-year basis. On average, research analysts forecast that Jabil, Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were issued a $0.08 dividend. The ex-dividend date was Friday, August 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.1%. Jabil’s dividend payout ratio is currently 6.21%.

Insider Transactions at Jabil

In other Jabil news, Chairman Mark T. Mondello sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $200.02, for a total transaction of $4,000,400.00. Following the completion of the sale, the chairman directly owned 1,400,190 shares in the company, valued at $280,066,003.80. This represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anousheh Ansari sold 1,000 shares of the company’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $222.75, for a total transaction of $222,750.00. Following the sale, the director owned 36,400 shares of the company’s stock, valued at $8,108,100. This trade represents a 2.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,613 shares of company stock valued at $34,706,019 in the last three months. 1.73% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on JBL shares. Bank of America lifted their target price on Jabil from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, June 20th. Argus raised Jabil from a “hold” rating to a “buy” rating in a research report on Wednesday, June 18th. Wall Street Zen lowered Jabil from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 12th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $230.00 target price (up from $170.00) on shares of Jabil in a research report on Wednesday, June 18th. Finally, The Goldman Sachs Group boosted their price objective on Jabil from $188.00 to $215.00 and gave the company a “buy” rating in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Jabil currently has a consensus rating of “Moderate Buy” and an average price target of $231.71.

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).