ARGA Investment Management LP Has $1.29 Million Position in Jabil, Inc. (NYSE:JBL)

ARGA Investment Management LP increased its holdings in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 172.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 9,492 shares of the technology company's stock after purchasing an additional 6,012 shares during the period. ARGA Investment Management LP's holdings in Jabil were worth $1,292,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new position in shares of Jabil in the fourth quarter valued at approximately $27,000. Creative Financial Designs Inc. ADV acquired a new position in shares of Jabil in the first quarter valued at approximately $27,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Jabil in the fourth quarter valued at approximately $29,000. Harbor Capital Advisors Inc. grew 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 valued at $30,000 after purchasing an additional 116 shares during the last quarter. Finally, Millstone Evans Group LLC acquired a new position in shares of Jabil in the fourth quarter valued at approximately $37,000. Institutional investors own 93.39% of the company's stock.

Jabil Price Performance

NYSE JBL traded up $0.96 on Friday, hitting $221.92. 864,591 shares of the company's stock were exchanged, compared to its average volume of 1,417,731. The stock has a 50-day moving average of $185.78 and a 200-day moving average of $161.34. The company has a current ratio of 0.98, a quick ratio of 0.64 and a debt-to-equity ratio of 1.85. Jabil, Inc. has a 52 week low of $95.85 and a 52 week high of $227.54. The stock has a market cap of $23.82 billion, a price-to-earnings ratio of 43.09, a P/E/G ratio of 1.55 and a beta of 1.20.

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

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Thursday, May 15th. Jabil's payout ratio is presently 6.21%.

Insider Activity

In related news, 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 sale, the director owned 99,828 shares of the company's stock, valued at $21,645,705.24. This trade represents a 13.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Mark T. Mondello sold 20,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $216.59, for a total value of $4,331,800.00. Following the sale, the chairman directly owned 1,440,190 shares in the company, valued at approximately $311,930,752.10. This trade represents a 1.37% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 297,431 shares of company stock valued at $58,163,159. Corporate insiders own 1.73% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. The Goldman Sachs Group upped their target price on Jabil from $188.00 to $215.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Raymond James Financial reissued a "strong-buy" rating and set a $230.00 price target (up previously from $170.00) on shares of Jabil in a research report on Wednesday, June 18th. JPMorgan Chase & Co. increased their price target on Jabil from $180.00 to $214.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 18th. Argus raised Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday, June 18th. Finally, Wall Street Zen raised Jabil from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 27th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Jabil currently has a consensus rating of "Buy" and an average target price of $225.71.

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).