Allianz Asset Management GmbH Buys 2,534 Shares of Jabil, Inc. (NYSE:JBL)

Key Points

• Allianz Asset Management GmbH increased its stake in Jabil, Inc. by 15.9%, acquiring 2,534 additional shares, bringing its total holdings to 18,502 shares valued at approximately $2.52 million.
• Several hedge funds have significantly boosted their stakes in Jabil, with Wellington Management Group increasing its ownership by 70,781.4%, now holding 5.81 million shares valued at $835.88 million.
• Jabil's stock received multiple analyst upgrades, resulting in price target increases, with Raymond James endorsing a target of $230.00 and Stifel Nicolaus setting a target at $245.00, reflecting strong confidence in the company's performance.

Allianz Asset Management GmbH lifted its holdings in Jabil, Inc. (NYSE:JBL - Free Report) by 15.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,502 shares of the technology company's stock after purchasing an additional 2,534 shares during the quarter. Allianz Asset Management GmbH's holdings in Jabil were worth $2,518,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Allworth Financial LP increased its holdings in shares of Jabil by 22.5% in the first quarter. Allworth Financial LP now owns 529 shares of the technology company's stock valued at $77,000 after purchasing an additional 97 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Jabil by 21.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 565 shares of the technology company's stock valued at $77,000 after purchasing an additional 99 shares during the last quarter. Utah Retirement Systems increased its holdings in shares of Jabil by 0.5% in the fourth quarter. Utah Retirement Systems now owns 18,382 shares of the technology company's stock valued at $2,645,000 after purchasing an additional 100 shares during the last quarter. Atlas Capital Advisors Inc. grew its stake in shares of Jabil by 1.0% in the fourth quarter. Atlas Capital Advisors Inc. now owns 10,463 shares of the technology company's stock valued at $1,506,000 after acquiring an additional 105 shares in the last quarter. Finally, Apollon Wealth Management LLC grew its stake in shares of Jabil by 5.9% in the first quarter. Apollon Wealth Management LLC now owns 2,004 shares of the technology company's stock valued at $273,000 after acquiring an additional 112 shares in the last quarter. Institutional investors own 93.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on JBL. Raymond James Financial restated a "strong-buy" rating and issued a $230.00 price target (up from $170.00) on shares of Jabil in a research note on Wednesday, June 18th. Argus upgraded shares of Jabil from a "hold" rating to a "buy" rating in a research note on Wednesday, June 18th. Bank of America upped their price target on shares of Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Barclays upped their price target on shares of Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a research note on Tuesday, June 17th. Finally, JPMorgan Chase & Co. upped their price target on shares of Jabil from $214.00 to $256.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $231.71.

Insider Buying and Selling

In other Jabil news, Director Steven A. Raymund sold 15,955 shares of the business's stock in a transaction on Friday, June 27th. The shares were 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 of the company's stock, valued at approximately $21,645,705.24. The trade was a 13.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steven D. Borges sold 22,443 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $200.01, for a total transaction of $4,488,824.43. Following the transaction, the executive vice president directly owned 102,803 shares in the company, valued at approximately $20,561,628.03. The trade was a 17.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 322,847 shares of company stock valued at $63,849,847 over the last quarter. Company insiders own 1.73% of the company's stock.

Jabil Stock Performance

NYSE JBL traded down $4.55 during trading hours on Friday, reaching $218.62. 1,370,839 shares of the company were exchanged, compared to its average volume of 1,423,933. Jabil, Inc. has a 1 year low of $95.85 and a 1 year high of $232.84. The business's 50 day simple moving average is $203.08 and its 200-day simple moving average is $168.48. 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 capitalization of $23.46 billion, a P/E ratio of 42.45, a P/E/G ratio of 1.58 and a beta of 1.20.

Jabil (NYSE:JBL - Get Free Report) last announced its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 EPS for the quarter, beating analysts' consensus estimates of $2.28 by $0.27. The company had revenue of $7.83 billion for the quarter, compared to analysts' expectations of $7.03 billion. Jabil had a net margin of 2.02% and a return on equity of 60.19%. Jabil's revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.89 EPS. On average, equities research analysts expect that Jabil, Inc. will post 8.05 earnings per share for the current year.

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).