376,696 Shares in Jabil Inc. (NYSE:JBL) Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC purchased a new position in shares of Jabil Inc. (NYSE:JBL - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 376,696 shares of the technology company's stock, valued at approximately $51,257,000. Jabil accounts for approximately 1.0% of Wedge Capital Management L L P NC's investment portfolio, making the stock its 21st largest holding. Wedge Capital Management L L P NC owned about 0.35% of Jabil as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new position in shares of Jabil in the 4th quarter worth approximately $27,000. Murphy & Mullick Capital Management Corp bought a new stake in Jabil in the fourth quarter valued at $29,000. Millstone Evans Group LLC acquired a new position in Jabil during the fourth quarter worth $37,000. First Horizon Advisors Inc. raised its stake in Jabil by 90.3% during the fourth quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company's stock worth $39,000 after acquiring an additional 130 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Jabil by 113.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 297 shares of the technology company's stock valued at $43,000 after acquiring an additional 158 shares during the period. 93.39% of the stock is owned by institutional investors and hedge funds.

Jabil Trading Up 2.5%

JBL opened at $176.93 on Friday. Jabil Inc. has a 1-year low of $95.85 and a 1-year high of $177.00. The stock has a market capitalization of $18.99 billion, a PE ratio of 16.96, a PEG ratio of 1.65 and a beta of 1.14. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. The firm has a 50-day moving average price of $150.17 and a two-hundred day moving average price of $149.30.

Jabil (NYSE:JBL - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The technology company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The business had revenue of $6.73 billion for the quarter, compared to analysts' expectations of $6.40 billion. During the same period in the prior year, the firm earned $1.68 earnings per share. Jabil's revenue was down .6% compared to the same quarter last year. As a group, equities analysts anticipate that Jabil Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.18%. Jabil's payout ratio is currently 7.66%.

Insider Activity

In related news, Chairman Mark T. Mondello sold 20,000 shares of Jabil stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $131.56, for a total value of $2,631,200.00. Following the completion of the sale, the chairman now directly owns 1,730,192 shares in the company, valued at $227,624,059.52. This trade represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Dastoor sold 10,000 shares of Jabil stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $169.90, for a total transaction of $1,699,000.00. Following the sale, the chief executive officer now owns 221,693 shares of the company's stock, valued at approximately $37,665,640.70. This represents a 4.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock valued at $7,665,200 over the last 90 days. 1.73% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

JBL has been the topic of several analyst reports. Wall Street Zen raised shares of Jabil from a "hold" rating to a "buy" rating in a report on Monday, May 19th. Barclays boosted their price target on shares of Jabil from $179.00 to $184.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. UBS Group raised their price objective on shares of Jabil from $152.00 to $157.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. The Goldman Sachs Group reduced their target price on Jabil from $175.00 to $146.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. decreased their price target on Jabil from $175.00 to $154.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $158.50.

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).

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