Truist Financial Corp Acquires 18,837 Shares of Jabil, Inc. $JBL

Truist Financial Corp lifted its holdings in Jabil, Inc. (NYSE:JBL) by 144.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 31,865 shares of the technology company’s stock after acquiring an additional 18,837 shares during the quarter. Truist Financial Corp’s holdings in Jabil were worth $6,950,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of JBL. Creative Financial Designs Inc. ADV bought a new stake in shares of Jabil in the 1st quarter valued at about $27,000. Harbor Capital Advisors Inc. lifted its position in Jabil by 110.5% in the first quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company’s stock valued at $30,000 after purchasing an additional 116 shares during the last quarter. Groupe la Francaise lifted 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 last quarter. Golden State Wealth Management LLC lifted its position in Jabil by 2,400.0% in the first quarter. Golden State Wealth Management LLC now owns 275 shares of the technology company’s stock valued at $37,000 after purchasing an additional 264 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new stake in Jabil during the 1st quarter valued at $52,000. Institutional investors own 93.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on JBL shares. UBS Group set a $241.00 price target on shares of Jabil in a report on Sunday, September 28th. Zacks Research downgraded shares of Jabil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. Raymond James Financial set a $260.00 price target on Jabil in a research report on Thursday, September 25th. Bank of America upped their price target on Jabil from $245.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Finally, The Goldman Sachs Group upped their price target on Jabil from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $248.43.

Jabil Stock Up 0.1%

Shares of Jabil stock opened at $202.37 on Tuesday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.00 and a quick ratio of 0.66. The company has a 50-day moving average of $215.15 and a 200 day moving average of $187.86. The firm has a market cap of $21.72 billion, a price-to-earnings ratio of 33.95, a PEG ratio of 1.43 and a beta of 1.26. Jabil, Inc. has a 1 year low of $108.66 and a 1 year high of $237.14.

Jabil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.2%. Jabil’s dividend payout ratio (DPR) is currently 5.37%.

Insider Buying and Selling

In related news, Chairman Mark T. Mondello sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $214.84, for a total transaction of $4,296,800.00. Following the completion of the transaction, the chairman owned 1,380,190 shares of the company’s stock, valued at $296,520,019.60. This trade represents a 1.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Andrew Priestley sold 3,782 shares of the firm’s stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $225.00, for a total value of $850,950.00. Following the transaction, the executive vice president directly owned 48,535 shares of the company’s stock, valued at approximately $10,920,375. This trade represents a 7.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,416 shares of company stock worth $18,367,889 in the last 90 days. Corporate 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).