Belpointe Asset Management LLC Takes $248,000 Position in Jabil, Inc. $JBL

Key Points

• Belpointe Asset Management LLC acquired 1,822 shares of Jabil, Inc. for approximately **$248,000**, indicating growing interest in the company's stock.
• Jabil reported **$2.55 earnings per share (EPS)** for the quarter, surpassing estimates and reflecting a **15.7%** increase in revenue year-over-year.
• Bank of America increased its target price on Jabil from **$225.00 to $245.00**, categorizing the stock as a "buy" amid strong performance and analyst optimism.

Belpointe Asset Management LLC bought a new stake in Jabil, Inc. (NYSE:JBL - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 1,822 shares of the technology company's stock, valued at approximately $248,000.

A number of other hedge funds have also recently modified their holdings of JBL. Wellington Management Group LLP lifted its stake in shares of Jabil by 12.9% in the first quarter. Wellington Management Group LLP now owns 6,556,153 shares of the technology company's stock valued at $892,096,000 after purchasing an additional 747,423 shares during the period. JPMorgan Chase & Co. lifted its holdings in Jabil by 15.7% in the 1st quarter. JPMorgan Chase & Co. now owns 2,173,095 shares of the technology company's stock valued at $295,693,000 after acquiring an additional 295,496 shares during the last quarter. Northern Trust Corp lifted its position in shares of 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 in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings 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 buying an additional 662,938 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Jabil by 3.4% during the first quarter. Bank of New York Mellon Corp now owns 1,118,282 shares of the technology company's stock valued at $152,165,000 after purchasing an additional 37,201 shares during the last quarter. 93.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JBL has been the subject of a number of analyst reports. UBS Group lifted their price objective on Jabil from $157.00 to $208.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Raymond James Financial reiterated a "strong-buy" rating and issued a $230.00 price objective (up from $170.00) on shares of Jabil in a research report on Wednesday, June 18th. JPMorgan Chase & Co. increased their price target on Jabil from $214.00 to $256.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Wall Street Zen cut Jabil from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, The Goldman Sachs Group lifted their price target on Jabil from $188.00 to $215.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $231.71.

Insider Activity

In other Jabil news, EVP Frederic E. Mccoy sold 4,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $223.55, for a total value of $1,005,975.00. Following the transaction, the executive vice president directly owned 124,203 shares of the company's stock, valued at $27,765,580.65. This trade represents a 3.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, the chairman owned 1,400,190 shares of the company's stock, valued at $280,066,003.80. This trade represents a 1.41% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,371 shares of company stock worth $22,085,161. Company insiders own 1.73% of the company's stock.

Jabil Stock Up 0.4%

JBL stock traded up $0.83 on Friday, reaching $224.12. 2,883,233 shares of the company traded hands, compared to its average volume of 1,283,373. The firm has a fifty day simple moving average of $216.26 and a 200-day simple moving average of $181.14. Jabil, Inc. has a one year low of $108.66 and a one year high of $232.84. The company has a market cap of $24.05 billion, a P/E ratio of 43.52, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.98 and a quick ratio of 0.64.

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 for the quarter, topping the consensus estimate of $2.28 by $0.27. The company had revenue of $7.83 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted $1.89 earnings per share. Research analysts anticipate that Jabil, Inc. will post 8.05 earnings per share for the current year.

Jabil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, August 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.1%. Jabil's dividend payout ratio is currently 6.21%.

Jabil Company 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).