Jabil, Inc. (NYSE:JBL) Shares Purchased by ARGA Investment Management LP

ARGA Investment Management LP boosted 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 Securities and Exchange Commission (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 Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. grew its stake in Jabil by 84.8% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 13,568 shares of the technology company's stock valued at $1,846,000 after acquiring an additional 6,225 shares in the last quarter. Kingswood Wealth Advisors LLC grew its stake in Jabil by 7.0% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,326 shares of the technology company's stock valued at $453,000 after acquiring an additional 217 shares in the last quarter. QRG Capital Management Inc. grew its stake in Jabil by 2.3% during the 1st quarter. QRG Capital Management Inc. now owns 5,978 shares of the technology company's stock valued at $813,000 after acquiring an additional 132 shares in the last quarter. Golden State Wealth Management LLC grew its stake in Jabil by 2,400.0% during the 1st quarter. Golden State Wealth Management LLC now owns 275 shares of the technology company's stock valued at $37,000 after acquiring an additional 264 shares in the last quarter. Finally, Keybank National Association OH purchased a new stake in Jabil during the 4th quarter valued at about $214,000. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Jabil Stock Performance

Shares of JBL stock traded up $0.33 during mid-day trading on Thursday, hitting $221.59. The stock had a trading volume of 568,340 shares, compared to its average volume of 1,415,809. 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, Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $227.54. The company's 50-day simple moving average is $182.88 and its 200-day simple moving average is $160.31. The firm has a market cap of $23.78 billion, a PE ratio of 43.03, a PEG ratio of 1.56 and a beta of 1.20.

Jabil (NYSE:JBL - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $7.83 billion for 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 quarter in the previous year, the firm earned $1.89 earnings per share. Sell-side analysts anticipate that Jabil, Inc. will post 8.05 earnings per share for the current 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 given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend was Thursday, May 15th. Jabil's dividend payout ratio is presently 6.21%.

Insiders Place Their Bets

In other Jabil news, EVP Steven D. Borges sold 22,443 shares of the 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 $20,561,628.03. This represents a 17.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Dastoor sold 18,234 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $191.66, for a total transaction of $3,494,728.44. Following the transaction, the chief executive officer owned 203,459 shares in the company, valued at $38,994,951.94. This trade represents a 8.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 317,431 shares of company stock valued at $60,794,359. 1.73% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Barclays boosted their target price on shares of Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. UBS Group increased their target price on shares of Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. Bank of America increased their target price on shares of Jabil from $225.00 to $245.00 and gave the stock a "buy" rating in a report on Friday, June 20th. Raymond James Financial reiterated a "strong-buy" rating and set a $230.00 target price (up from $170.00) on shares of Jabil in a report on Wednesday, June 18th. Finally, Argus upgraded shares of Jabil from a "hold" rating to a "buy" rating in a report 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Jabil 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).