Archford Capital Strategies LLC Buys New Position in Jabil, Inc. (NYSE:JBL)

Archford Capital Strategies LLC 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 disclosure with the SEC. The institutional investor purchased 14,235 shares of the technology company's stock, valued at approximately $1,937,000.

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP grew its position in Jabil by 70,781.4% in the fourth quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company's stock valued at $835,876,000 after purchasing an additional 5,800,535 shares in the last quarter. FMR LLC grew its stake in Jabil by 8.1% in the fourth quarter. FMR LLC now owns 5,533,149 shares of the technology company's stock valued at $796,220,000 after purchasing an additional 416,841 shares in the last quarter. Geode Capital Management LLC grew its stake in Jabil by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company's stock valued at $404,024,000 after purchasing an additional 34,574 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Jabil by 18.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,877,599 shares of the technology company's stock worth $270,187,000 after purchasing an additional 288,806 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Jabil in the 4th quarter valued at approximately $218,430,000. 93.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on JBL shares. Bank of America upped their price target on shares of Jabil from $225.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Argus raised Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday, June 18th. Wall Street Zen raised Jabil from a "hold" rating to a "buy" rating in a research report on Monday, May 19th. UBS Group boosted their target price on Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. Finally, The Goldman Sachs Group raised their price target on Jabil from $188.00 to $215.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $213.57.

Insiders Place Their Bets

In other Jabil news, CEO Michael Dastoor sold 10,000 shares of the business's stock in a transaction on 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 sale, the chief executive officer now owns 221,693 shares of the company's stock, valued at approximately $37,665,640.70. The trade was a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Anousheh Ansari sold 2,500 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $207.57, for a total value of $518,925.00. Following the sale, the director now owns 37,400 shares in the company, valued at approximately $7,763,118. This trade represents a 6.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 280,476 shares of company stock worth $52,780,286 over the last three months. Insiders own 1.73% of the company's stock.

Jabil Stock Performance

Shares of NYSE JBL opened at $211.84 on Wednesday. The stock's fifty day moving average price is $165.22 and its two-hundred day moving average price is $154.11. The firm has a market cap of $22.74 billion, a price-to-earnings ratio of 41.13, a P/E/G ratio of 1.46 and a beta of 1.14. Jabil, Inc. has a one year low of $95.85 and a one year high of $213.53. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.98 and a quick ratio of 0.64.

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

Jabil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders 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 annualized dividend and a yield of 0.15%. Jabil's dividend payout ratio is currently 6.21%.

About Jabil

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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