Chesley Taft & Associates LLC Invests $299,000 in Jabil, Inc. $JBL

Key Points

• Chesley Taft & Associates LLC has purchased 1,371 shares of Jabil, Inc. valued at approximately $299,000, indicating growing interest from institutional investors, who now own 93.39% of the company's stock.
• Jabil recently declared a quarterly dividend of $0.08 per share, representing an annualized yield of 0.2%, with a payout ratio of 6.21%.
• Jabil surpassed earnings expectations by reporting $2.55 earnings per share and a revenue of $7.83 billion in its last quarterly results, reflecting a 15.7% increase compared to the same quarter last year.

Chesley Taft & Associates LLC acquired a new position in shares of Jabil, Inc. (NYSE:JBL - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,371 shares of the technology company's stock, valued at approximately $299,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Groupe la Francaise raised its holdings in Jabil by 35.2% during the first quarter. Groupe la Francaise now owns 246 shares of the technology company's stock worth $34,000 after purchasing an additional 64 shares in the last quarter. Keeley Teton Advisors LLC raised its holdings in 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 purchasing an additional 64 shares in the last quarter. Cordatus Wealth Management LLC raised its holdings in 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 purchasing an additional 68 shares in the last quarter. AlphaCore Capital LLC raised its holdings in 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 purchasing an additional 76 shares in the last quarter. Finally, UniSuper Management Pty Ltd raised its holdings in 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 purchasing an additional 81 shares in the last quarter. Institutional investors and hedge funds own 93.39% of the company's stock.

Analysts Set New Price Targets

JBL has been the topic of a number of research analyst reports. Wall Street Zen cut shares of Jabil from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Zacks Research lowered shares of Jabil from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. Argus upgraded shares of Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday, June 18th. UBS Group raised their target price on shares of Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th. Finally, Barclays raised their target price on shares of Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $231.71.

Insider Activity at Jabil

In other Jabil news, Chairman Mark T. Mondello sold 20,000 shares of the business's stock in a transaction on 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 sale, the chairman directly owned 1,400,190 shares in the company, valued at approximately $280,066,003.80. The trade was a 1.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Frederic E. Mccoy sold 4,500 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $223.55, for a total transaction of $1,005,975.00. Following the sale, the executive vice president owned 124,203 shares in the company, valued at $27,765,580.65. The trade was a 3.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,871 shares of company stock worth $22,604,086. 1.73% of the stock is currently owned by insiders.

Jabil Stock Performance

NYSE:JBL traded up $9.71 during midday trading on Thursday, reaching $223.35. The stock had a trading volume of 2,748,428 shares, compared to its average volume of 1,198,394. The firm has a fifty day simple moving average of $216.22 and a two-hundred day simple moving average of $180.57. Jabil, Inc. has a 12-month low of $108.66 and a 12-month high of $232.84. 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 stock has a market cap of $23.97 billion, a P/E ratio of 43.37, a P/E/G ratio of 1.26 and a beta of 1.25.

Jabil (NYSE:JBL - Get Free Report) last posted its quarterly earnings data on Tuesday, June 17th. The technology company reported $2.55 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $7.03 billion. During the same period last year, the firm posted $1.89 EPS. Jabil's quarterly revenue was up 15.7% on a year-over-year basis. On average, equities analysts expect that Jabil, Inc. will post 8.05 EPS for the current year.

Jabil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Friday, August 15th. Jabil's payout ratio is presently 6.21%.

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).