Bank of New York Mellon Corp Purchases 37,201 Shares of Jabil, Inc. (NYSE:JBL)

Bank of New York Mellon Corp raised its position in Jabil, Inc. (NYSE:JBL - Free Report) by 3.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,118,282 shares of the technology company's stock after purchasing an additional 37,201 shares during the period. Bank of New York Mellon Corp owned about 1.04% of Jabil worth $152,165,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in Jabil in the fourth quarter valued at $27,000. Creative Financial Designs Inc. ADV acquired a new stake in Jabil in the first quarter valued at $27,000. Murphy & Mullick Capital Management Corp acquired a new stake in Jabil in the fourth quarter valued at $29,000. Harbor Capital Advisors Inc. grew its holdings in Jabil by 110.5% in the first quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock valued at $30,000 after purchasing an additional 116 shares during the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in shares of Jabil during the fourth quarter valued at $37,000. Institutional investors and hedge funds own 93.39% of the company's stock.

Insiders Place Their Bets

In other Jabil news, SVP Francis Mckay sold 3,395 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $205.48, for a total transaction of $697,604.60. Following the transaction, the senior vice president owned 38,112 shares of the company's stock, valued at $7,831,253.76. The trade was a 8.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark T. Mondello sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $216.59, for a total value of $4,331,800.00. Following the transaction, the chairman directly owned 1,440,190 shares in the company, valued at approximately $311,930,752.10. This trade represents a 1.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 297,431 shares of company stock valued at $58,163,159 in the last quarter. 1.73% of the stock is currently owned by corporate insiders.

Jabil Price Performance

Shares of JBL stock traded up $0.96 during trading hours on Friday, hitting $221.92. 864,591 shares of the company's stock were exchanged, compared to its average volume of 1,420,138. The stock's 50-day moving average is $185.78 and its 200-day moving average is $161.43. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.98 and a quick ratio of 0.64. The stock has a market cap of $23.82 billion, a price-to-earnings ratio of 43.09, a price-to-earnings-growth ratio of 1.56 and a beta of 1.20. Jabil, Inc. has a 52 week low of $95.85 and a 52 week high of $227.54.

Jabil (NYSE:JBL - Get Free Report) last posted its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.27. The business had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.03 billion. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The firm's revenue was up 15.7% on a year-over-year basis. During the same period last year, the company earned $1.89 EPS. As a group, research analysts forecast that Jabil, Inc. will post 8.05 EPS for the current year.

Jabil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors 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 was Thursday, May 15th. Jabil's dividend payout ratio is currently 6.21%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Barclays increased their price objective on Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a research note on Tuesday, June 17th. Bank of America increased their price objective on Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Wall Street Zen lowered Jabil from a "strong-buy" rating to a "buy" rating in a research note on Saturday. The Goldman Sachs Group increased their price objective on Jabil from $188.00 to $215.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. Finally, Stifel Nicolaus assumed coverage on Jabil in a research note on Wednesday, July 2nd. They set a "buy" rating and a $245.00 price objective on the stock. One 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's stock. Based on data from MarketBeat.com, the stock presently 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).