Assenagon Asset Management S.A. Has $2.97 Million Stake in Jabil, Inc. $JBL

Key Points

• Assenagon Asset Management S.A. significantly reduced its stake in Jabil, Inc. by 96.1% during the second quarter, now holding 13,618 shares valued at about $2.97 million.
• Jabil has announced a quarterly dividend of $0.08 per share, resulting in an annualized dividend yield of 0.2%.
• Several major brokerages have raised their price targets for Jabil, with most analysts currently giving the stock a "Moderate Buy" rating and a consensus price target of $236.00.

Assenagon Asset Management S.A. lowered its position in Jabil, Inc. (NYSE:JBL - Free Report) by 96.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,618 shares of the technology company's stock after selling 335,682 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Jabil were worth $2,970,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Creative Financial Designs Inc. ADV acquired a new position in Jabil during the first quarter worth approximately $27,000. Harbor Capital Advisors Inc. boosted its stake in shares of Jabil by 110.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock worth $30,000 after acquiring an additional 116 shares during the period. Groupe la Francaise boosted its stake in shares of Jabil by 35.2% during the 1st quarter. Groupe la Francaise now owns 246 shares of the technology company's stock worth $34,000 after acquiring an additional 64 shares during the period. Golden State Wealth Management LLC boosted its stake in shares of Jabil by 2,400.0% during the 1st quarter. Golden State Wealth Management LLC now owns 275 shares of the technology company's stock worth $37,000 after acquiring an additional 264 shares during the period. Finally, Wayfinding Financial LLC bought a new position in shares of Jabil during the 1st quarter worth approximately $52,000. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Jabil Stock Performance

NYSE:JBL opened at $210.42 on Friday. The stock has a fifty day moving average price of $216.73 and a 200-day moving average price of $183.55. The company has a market cap of $22.58 billion, a price-to-earnings ratio of 40.86, a PEG ratio of 1.33 and a beta of 1.25. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.64 and a current ratio of 0.98. Jabil, Inc. has a fifty-two week low of $108.66 and a fifty-two week high of $237.14.

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Friday, August 15th. Jabil's dividend payout ratio (DPR) is currently 6.21%.

Insider Buying and Selling

In other Jabil news, EVP Andrew Priestley sold 3,782 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $225.00, for a total transaction of $850,950.00. Following the completion of the transaction, the executive vice president directly owned 48,535 shares in the company, valued at $10,920,375. The trade was a 7.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Frederic E. Mccoy sold 4,500 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $223.55, for a total value of $1,005,975.00. Following the sale, the executive vice president owned 124,203 shares of the company's stock, valued at $27,765,580.65. The trade was a 3.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,416 shares of company stock worth $18,625,639. 1.73% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on JBL. Bank of America lifted their target price on Jabil from $225.00 to $245.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Barclays lifted their target price on Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. The Goldman Sachs Group lifted their target price on Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. JPMorgan Chase & Co. boosted their price target on Jabil from $214.00 to $256.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Finally, Raymond James Financial set a $260.00 price objective on Jabil in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Jabil presently has a consensus rating of "Moderate Buy" and a consensus price target of $236.00.

Jabil 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).

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