1,586 Shares in Jabil, Inc. (NYSE:JBL) Purchased by Banque Cantonale Vaudoise

Key Points

• Banque Cantonale Vaudoise invested approximately $216,000 in Jabil, Inc. during the first quarter, purchasing 1,586 shares, signaling confidence in the technology company's stock.
• Jabil reported a quarterly earnings per share (EPS) of $2.55, exceeding estimates by $0.27, with revenue reaching $7.83 billion, representing a 15.7% increase year-over-year.
• Wall Street analysts remain optimistic, with most issuing buy ratings and price targets between $230.00 and $256.00 for Jabil shares, indicating bullish sentiment towards the company's future growth.

Banque Cantonale Vaudoise bought a new position in shares of Jabil, Inc. (NYSE:JBL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,586 shares of the technology company's stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Federated Hermes Inc. lifted its position in shares of Jabil by 2.3% during the 1st quarter. Federated Hermes Inc. now owns 39,556 shares of the technology company's stock worth $5,382,000 after buying an additional 876 shares during the period. Picton Mahoney Asset Management bought a new position in Jabil in the 1st quarter valued at $1,020,000. Norden Group LLC raised its position in Jabil by 17.1% in the 1st quarter. Norden Group LLC now owns 4,116 shares of the technology company's stock valued at $560,000 after purchasing an additional 600 shares during the last quarter. LPL Financial LLC raised its position in Jabil by 12.6% in the 1st quarter. LPL Financial LLC now owns 45,878 shares of the technology company's stock valued at $6,243,000 after purchasing an additional 5,130 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Jabil by 1.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 222,432 shares of the technology company's stock valued at $30,266,000 after purchasing an additional 2,531 shares during the last quarter. Institutional investors own 93.39% of the company's stock.

Insider Transactions at Jabil

In other news, Chairman Mark T. Mondello sold 150,000 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $193.33, for a total value of $28,999,500.00. Following the transaction, the chairman owned 1,560,192 shares in the company, valued at $301,631,919.36. The trade was a 8.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Dastoor sold 18,234 shares of Jabil stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $191.66, for a total transaction of $3,494,728.44. Following the completion of the sale, the chief executive officer directly owned 203,459 shares in the company, valued at $38,994,951.94. This trade represents a 8.22% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 322,847 shares of company stock worth $63,849,847. 1.73% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Bank of America boosted their target price on Jabil from $225.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. The Goldman Sachs Group boosted their target price on Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. UBS Group lifted their price objective on Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. JPMorgan Chase & Co. lifted their price objective on Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Finally, Wall Street Zen cut Jabil from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. One equities research 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 company's stock. According to data from MarketBeat.com, Jabil has an average rating of "Buy" and a consensus price target of $231.71.

Jabil Stock Down 1.2%

Shares of NYSE JBL traded down $2.62 during trading hours on Tuesday, hitting $219.67. The company had a trading volume of 893,772 shares, compared to its average volume of 1,263,084. The stock has a market capitalization of $23.57 billion, a P/E ratio of 42.65, a price-to-earnings-growth ratio of 1.55 and a beta of 1.20. The company has a quick ratio of 0.64, a current ratio of 0.98 and a debt-to-equity ratio of 1.85. Jabil, Inc. has a 1-year low of $97.95 and a 1-year high of $232.84. The firm's 50 day moving average is $205.28 and its 200-day moving average is $169.45.

Jabil (NYSE:JBL - Get Free Report) last issued its earnings results on Tuesday, June 17th. The technology company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.28 by $0.27. The company had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.03 billion. Jabil had a return on equity of 60.19% and a net margin of 2.02%. 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 business posted $1.89 EPS. On average, analysts expect that Jabil, Inc. will post 8.05 earnings per share for the current fiscal year.

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).