ARGA Investment Management LP Grows Stock Position in Jabil, Inc. (NYSE:JBL)

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

Several other institutional investors have also bought and sold shares of the business. Smartleaf Asset Management LLC boosted its holdings in shares of Jabil by 113.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the technology company's stock worth $43,000 after purchasing an additional 158 shares during the period. Jones Financial Companies Lllp lifted its position in Jabil by 76.9% in the fourth quarter. Jones Financial Companies Lllp now owns 1,219 shares of the technology company's stock worth $175,000 after buying an additional 530 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Jabil in the fourth quarter valued at $27,000. Keybank National Association OH purchased a new stake in shares of Jabil in the fourth quarter valued at $214,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Jabil in the fourth quarter valued at $11,555,000. Institutional investors own 93.39% of the company's stock.

Jabil Stock Down 0.4%

NYSE:JBL traded down $0.89 during mid-day trading on Wednesday, reaching $220.97. The company's stock had a trading volume of 1,398,471 shares, compared to its average volume of 1,419,050. The firm has a market capitalization of $23.71 billion, a PE ratio of 42.91, a price-to-earnings-growth ratio of 1.56 and a beta of 1.20. The stock has a fifty day moving average of $182.88 and a 200-day moving average of $160.31. The company has a quick ratio of 0.64, a current ratio of 0.98 and a debt-to-equity ratio of 1.85. Jabil, Inc. has a 1 year low of $95.85 and a 1 year high of $227.54.

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

Jabil Announces Dividend

The firm also recently declared 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. This represents a $0.32 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date was Thursday, May 15th. Jabil's dividend payout ratio is presently 6.21%.

Insider Transactions at Jabil

In other news, Director Steven A. Raymund sold 15,955 shares of the firm's stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anousheh Ansari sold 1,000 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $222.75, for a total transaction of $222,750.00. Following the sale, the director directly owned 36,400 shares in the company, valued at $8,108,100. This trade represents a 2.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 317,431 shares of company stock valued at $60,794,359. 1.73% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays upped their price target on shares of Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Raymond James Financial restated a "strong-buy" rating and set a $230.00 target price (up previously from $170.00) on shares of Jabil in a research report on Wednesday, June 18th. Wall Street Zen raised Jabil from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 27th. UBS Group increased their target price on Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. Finally, JPMorgan Chase & Co. increased their target price on Jabil from $180.00 to $214.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 18th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $225.71.

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).