7,488 Shares in Jabil, Inc. (NYSE:JBL) Purchased by Picton Mahoney Asset Management

Picton Mahoney Asset Management acquired a new position in shares of Jabil, Inc. (NYSE:JBL - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 7,488 shares of the technology company's stock, valued at approximately $1,020,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Allworth Financial LP boosted its position in shares of Jabil by 22.5% during the 1st quarter. Allworth Financial LP now owns 529 shares of the technology company's stock worth $77,000 after purchasing an additional 97 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in Jabil by 21.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 565 shares of the technology company's stock worth $77,000 after buying an additional 99 shares in the last quarter. Utah Retirement Systems lifted its holdings in Jabil by 0.5% during the 4th quarter. Utah Retirement Systems now owns 18,382 shares of the technology company's stock worth $2,645,000 after buying an additional 100 shares in the last quarter. Atlas Capital Advisors Inc. lifted its holdings in Jabil by 1.0% during the 4th quarter. Atlas Capital Advisors Inc. now owns 10,463 shares of the technology company's stock worth $1,506,000 after buying an additional 105 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its holdings in Jabil by 5.9% during the 1st quarter. Apollon Wealth Management LLC now owns 2,004 shares of the technology company's stock worth $273,000 after buying an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 93.39% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on JBL. Stifel Nicolaus began coverage on shares of Jabil in a report on Wednesday, July 2nd. They set a "buy" rating and a $245.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Argus upgraded shares of Jabil from a "hold" rating to a "buy" rating in a report on Wednesday, June 18th. UBS Group raised their price objective on shares of Jabil from $157.00 to $208.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Finally, Wall Street Zen lowered shares of Jabil from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $231.71.

Insider Activity at Jabil

In other Jabil news, Chairman Mark T. Mondello sold 150,000 shares of the firm's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $193.33, for a total transaction of $28,999,500.00. Following the transaction, the chairman directly owned 1,560,192 shares of the company's stock, valued at approximately $301,631,919.36. This trade represents a 8.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Steven A. Raymund sold 15,955 shares of the firm's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $216.83, for a total transaction of $3,459,522.65. Following the transaction, the director directly owned 99,828 shares in the company, valued at $21,645,705.24. The trade was a 13.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 322,847 shares of company stock worth $63,849,847 in the last three months. Company insiders own 1.73% of the company's stock.

Jabil Stock Down 2.0%

NYSE:JBL traded down $4.55 during midday trading on Friday, hitting $218.62. 1,370,849 shares of the company were exchanged, compared to its average volume of 1,195,820. The company has a fifty day simple moving average of $204.15 and a 200 day simple moving average of $168.92. Jabil, Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $232.84. The company has a current ratio of 0.98, a quick ratio of 0.64 and a debt-to-equity ratio of 1.85. The company has a market capitalization of $23.46 billion, a PE ratio of 42.45, a price-to-earnings-growth ratio of 1.56 and a beta of 1.20.

Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings data on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, topping 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 last year, the firm posted $1.89 EPS. Jabil's revenue for the quarter was up 15.7% on a year-over-year basis. As a group, equities analysts anticipate that Jabil, Inc. will post 8.05 earnings per share for the current fiscal year.

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).