Avantax Advisory Services Inc. Raises Stock Position in Jabil, Inc. (NYSE:JBL)

Key Points

• Avantax Advisory Services Inc. increased its stake in Jabil, Inc. by 49.9% in the first quarter, acquiring an additional 1,597 shares, making its total holdings worth approximately $653,000.
• Jabil's stock has seen significant interest from institutional investors, with 93.39% of its stock currently owned by them, as several other firms have also increased their positions.
• Analysts are optimistic about Jabil, with multiple firms raising their target price, and the company's earnings surpassed estimates in its recent quarterly report, showing a year-over-year revenue growth of 15.7%.

Avantax Advisory Services Inc. boosted its holdings in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 49.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,798 shares of the technology company's stock after purchasing an additional 1,597 shares during the period. Avantax Advisory Services Inc.'s holdings in Jabil were worth $653,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JBL. Robeco Institutional Asset Management B.V. raised its position in Jabil by 84.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 13,568 shares of the technology company's stock worth $1,846,000 after purchasing an additional 6,225 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Jabil by 8.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 242,977 shares of the technology company's stock valued at $33,062,000 after acquiring an additional 18,126 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its position in Jabil by 7.0% in 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. OneDigital Investment Advisors LLC bought a new stake in Jabil during the 1st quarter worth about $214,000. Finally, QRG Capital Management Inc. lifted its position in Jabil by 2.3% during the 1st quarter. QRG Capital Management Inc. now owns 5,978 shares of the technology company's stock worth $813,000 after buying an additional 132 shares in the last quarter. Institutional investors own 93.39% of the company's stock.

Insider Activity at Jabil

In other news, Director Steven A. Raymund sold 15,955 shares of Jabil stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $216.83, for a total value of $3,459,522.65. Following the completion of the transaction, the director owned 99,828 shares in the company, valued at $21,645,705.24. This trade represents a 13.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Steven D. Borges sold 22,443 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $200.01, for a total transaction of $4,488,824.43. Following the completion of the transaction, the executive vice president directly owned 102,803 shares of the company's stock, valued at approximately $20,561,628.03. This represents a 17.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 322,847 shares of company stock valued at $63,849,847 over the last three months. Insiders own 1.73% of the company's stock.

Jabil Stock Down 1.2%

NYSE:JBL traded down $2.62 during trading hours on Tuesday, reaching $219.67. The company had a trading volume of 893,772 shares, compared to its average volume of 1,263,084. The company has a quick ratio of 0.64, a current ratio of 0.98 and a debt-to-equity ratio of 1.85. The firm has a market cap of $23.57 billion, a price-to-earnings ratio of 42.65, a P/E/G ratio of 1.55 and a beta of 1.20. The business's 50-day simple moving average is $206.29 and its two-hundred day simple moving average is $169.80. Jabil, Inc. has a twelve month low of $97.95 and a twelve month high of $232.84.

Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings data on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 2.02% and a return on equity of 60.19%. The business's revenue was up 15.7% on a year-over-year basis. During the same period last year, the company earned $1.89 earnings per share. On average, equities analysts expect that Jabil, Inc. will post 8.05 earnings per share for the current year.

Analyst Ratings Changes

JBL has been the topic of a number of research analyst reports. The Goldman Sachs Group upped their target price on shares of Jabil from $188.00 to $215.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Argus upgraded shares of Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday, June 18th. Stifel Nicolaus began coverage on shares of Jabil in a report on Wednesday, July 2nd. They set a "buy" rating and a $245.00 price target for the company. Bank of America increased their price objective on shares of Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Finally, Wall Street Zen downgraded shares of Jabil from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Jabil currently has an average rating of "Buy" and an average target price of $231.71.

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).