Sowell Financial Services LLC Takes Position in Jabil, Inc. (NYSE:JBL)

Sowell Financial Services LLC purchased a new stake in Jabil, Inc. (NYSE:JBL - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 9,277 shares of the technology company's stock, valued at approximately $1,262,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Truist Financial Corp raised its position in Jabil by 50.4% in the 4th quarter. Truist Financial Corp now owns 12,037 shares of the technology company's stock valued at $1,732,000 after buying an additional 4,034 shares during the last quarter. Keybank National Association OH acquired a new stake in shares of Jabil in the fourth quarter valued at approximately $214,000. Principal Financial Group Inc. raised its holdings in shares of Jabil by 4.4% in the fourth quarter. Principal Financial Group Inc. now owns 143,266 shares of the technology company's stock valued at $20,616,000 after purchasing an additional 5,993 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Jabil by 110.5% in the first quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock worth $30,000 after purchasing an additional 116 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in Jabil by 23.5% during the fourth quarter. LPL Financial LLC now owns 40,748 shares of the technology company's stock worth $5,864,000 after purchasing an additional 7,747 shares during the last quarter. Institutional investors and hedge funds own 93.39% of the company's stock.

Jabil Stock Performance

Jabil stock traded up $7.54 during mid-day trading on Wednesday, hitting $204.43. 3,556,070 shares of the company's stock traded hands, compared to its average volume of 1,463,720. Jabil, Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $207.03. The stock has a market cap of $21.95 billion, a price-to-earnings ratio of 48.91, a P/E/G ratio of 1.76 and a beta of 1.14. The firm has a 50 day simple moving average of $157.94 and a two-hundred day simple moving average of $151.63. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.02 and a quick ratio of 0.66.

Jabil (NYSE:JBL - Get Free Report) last posted its earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.28 by $0.27. The company had revenue of $7.83 billion during the quarter, compared to analysts' expectations of $7.03 billion. Jabil had a net margin of 1.76% and a return on equity of 49.64%. Jabil's quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.89 EPS. On average, research analysts expect that Jabil, Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend was Thursday, May 15th. Jabil's dividend payout ratio is presently 7.66%.

Insider Activity

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Barclays boosted their price target on shares of Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a research report on Tuesday. The Goldman Sachs Group upped their price objective on Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a research note on Wednesday. UBS Group increased their price target on shares of Jabil from $157.00 to $208.00 and gave the company a "neutral" rating in a research note on Wednesday. Raymond James Financial restated a "strong-buy" rating and set a $230.00 price objective (up from $170.00) on shares of Jabil in a research note on Wednesday. Finally, JPMorgan Chase & Co. upped their target price on shares of Jabil from $180.00 to $214.00 and gave the company an "overweight" rating in a report on Wednesday. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $200.00.

Jabil Company 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).