Avior Wealth Management LLC Purchases 1,685 Shares of Jabil, Inc. $JBL

Key Points

• Avior Wealth Management LLC significantly increased its holdings in Jabil, Inc. by 1,059.7%, acquiring an additional 1,685 shares and bringing its total to 1,844 shares valued at approximately $402,000.
• Several institutional investors, including Wellington Management and JPMorgan Chase, have also increased their stakes in Jabil, contributing to a total institutional ownership of 93.39%.
• Wall Street analysts have varying outlooks, with price targets ranging from $241.00 to $267.00, while overall consensus maintains a "Moderate Buy" rating and an average target price of $248.43.

Avior Wealth Management LLC grew its holdings in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 1,059.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,844 shares of the technology company's stock after acquiring an additional 1,685 shares during the quarter. Avior Wealth Management LLC's holdings in Jabil were worth $402,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in JBL. Wellington Management Group LLP lifted its stake in Jabil by 12.9% in the first quarter. Wellington Management Group LLP now owns 6,556,153 shares of the technology company's stock worth $892,096,000 after purchasing an additional 747,423 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Jabil by 15.7% in the first quarter. JPMorgan Chase & Co. now owns 2,173,095 shares of the technology company's stock worth $295,693,000 after purchasing an additional 295,496 shares during the last quarter. Northern Trust Corp lifted its stake in Jabil by 8.3% in the first quarter. Northern Trust Corp now owns 1,384,364 shares of the technology company's stock worth $188,370,000 after purchasing an additional 105,632 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Jabil by 119.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,215,678 shares of the technology company's stock worth $165,417,000 after purchasing an additional 662,938 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Jabil by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 1,118,282 shares of the technology company's stock worth $152,165,000 after purchasing an additional 37,201 shares during the last quarter. Hedge funds and other institutional investors own 93.39% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on JBL shares. UBS Group set a $241.00 price target on shares of Jabil in a research note on Sunday. Barclays increased their price target on shares of Jabil from $223.00 to $267.00 and gave the company an "overweight" rating in a research report on Friday, September 26th. Wall Street Zen cut shares of Jabil from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Bank of America increased their price target on shares of Jabil from $245.00 to $255.00 and gave the company a "buy" rating in a research report on Friday, September 26th. Finally, Raymond James Financial set a $260.00 price target on shares of Jabil in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $248.43.

Jabil Price Performance

JBL opened at $217.43 on Wednesday. Jabil, Inc. has a 12-month low of $108.66 and a 12-month high of $237.14. The company has a market cap of $23.33 billion, a price-to-earnings ratio of 36.48, a price-to-earnings-growth ratio of 1.50 and a beta of 1.25. The stock has a fifty day simple moving average of $216.33 and a two-hundred day simple moving average of $185.63. The company has a current ratio of 1.00, a quick ratio of 0.66 and a debt-to-equity ratio of 1.57.

Jabil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Friday, August 15th. Jabil's dividend payout ratio (DPR) is currently 5.37%.

Insider Transactions at Jabil

In other Jabil news, Chairman Mark T. Mondello sold 20,000 shares of Jabil stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $200.02, for a total transaction of $4,000,400.00. Following the transaction, the chairman owned 1,400,190 shares of the company's stock, valued at $280,066,003.80. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Frederic E. Mccoy sold 4,500 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $223.55, for a total transaction of $1,005,975.00. Following the completion of the transaction, the executive vice president directly owned 124,203 shares in the company, valued at $27,765,580.65. This trade represents a 3.50% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,416 shares of company stock valued at $14,293,839. Company insiders own 1.73% of the company's stock.

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).

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