Ballentine Partners LLC Takes Position in Jabil, Inc. (NYSE:JBL)

Ballentine Partners LLC purchased a new position in shares of Jabil, Inc. (NYSE:JBL - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,681 shares of the technology company's stock, valued at approximately $229,000.

Several other hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP increased its position in Jabil by 70,781.4% in the fourth quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company's stock worth $835,876,000 after buying an additional 5,800,535 shares during the period. Norges Bank acquired a new stake in shares of Jabil in the 4th quarter worth about $218,430,000. Point72 Asset Management L.P. lifted its position in Jabil by 1,007.6% in the 4th quarter. Point72 Asset Management L.P. now owns 965,629 shares of the technology company's stock valued at $138,954,000 after purchasing an additional 878,444 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Jabil by 16,190.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 552,740 shares of the technology company's stock valued at $79,539,000 after purchasing an additional 549,347 shares during the period. Finally, GAMMA Investing LLC grew its position in Jabil by 17,410.3% in the 1st quarter. GAMMA Investing LLC now owns 524,958 shares of the technology company's stock worth $71,431,000 after purchasing an additional 521,960 shares during the last quarter. Institutional investors own 93.39% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on JBL shares. Raymond James Financial reiterated a "strong-buy" rating and set a $230.00 price objective (up from $170.00) on shares of Jabil in a research report on Wednesday, June 18th. Argus raised Jabil from a "hold" rating to a "buy" rating in a research note on Wednesday, June 18th. Bank of America boosted their price target on Jabil from $225.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Stifel Nicolaus began coverage on Jabil in a report on Wednesday, July 2nd. They set a "buy" rating and a $245.00 price target on the stock. Finally, The Goldman Sachs Group lifted their price objective on shares of Jabil from $188.00 to $215.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $231.71.

Insiders Place Their Bets

In other Jabil news, Director Steven A. Raymund sold 15,955 shares of the business's stock in a transaction dated Friday, June 27th. The stock was 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 in the company, valued at approximately $21,645,705.24. The trade was a 13.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Steven D. Borges sold 22,443 shares of Jabil 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 in the company, valued at approximately $20,561,628.03. This trade represents a 17.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 297,431 shares of company stock worth $58,163,159 over the last three months. Company insiders own 1.73% of the company's stock.

Jabil Price Performance

NYSE JBL traded up $1.77 on Friday, reaching $224.00. The company's stock had a trading volume of 1,279,991 shares, compared to its average volume of 1,422,140. Jabil, Inc. has a twelve month low of $95.85 and a twelve month high of $227.54. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.64 and a current ratio of 0.98. The firm's 50 day moving average is $191.22 and its two-hundred day moving average is $163.37. The stock has a market cap of $24.04 billion, a PE ratio of 43.50, a PEG ratio of 1.53 and a beta of 1.20.

Jabil (NYSE:JBL - Get Free Report) last issued its earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share for the quarter, topping 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 firm's revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period last year, the firm posted $1.89 earnings per share. As a group, sell-side analysts predict that Jabil, Inc. will post 8.05 EPS for the current year.

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).