CCM Investment Group LLC Makes New $612,000 Investment in Jabil, Inc. (NYSE:JBL)

Key Points

• CCM Investment Group LLC acquired a new stake in Jabil, Inc., purchasing 4,501 shares valued at approximately $612,000 during the first quarter.
• Insider transactions revealed that executives Andrew Priestley and Michael Dastoor sold significant shares of Jabil stock, with Priestley selling 13,913 shares for about $2.83 million and Dastoor 18,234 shares for approximately $3.49 million.
• Several analysts have increased their target prices for Jabil, with Goldman Sachs raising it to $215.00 and Bank of America to $245.00, reflecting a generally positive outlook on the company's performance.

CCM Investment Group LLC acquired a new position in shares of Jabil, Inc. (NYSE:JBL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,501 shares of the technology company's stock, valued at approximately $612,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of JBL. Creative Financial Designs Inc. ADV acquired a new stake in Jabil during the 1st quarter worth approximately $27,000. Harbor Capital Advisors Inc. lifted its stake in shares of Jabil by 110.5% during the first quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock worth $30,000 after purchasing an additional 116 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Jabil by 2,400.0% during the first quarter. Golden State Wealth Management LLC now owns 275 shares of the technology company's stock worth $37,000 after purchasing an additional 264 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Jabil by 3,411.1% during the fourth quarter. True Wealth Design LLC now owns 316 shares of the technology company's stock worth $45,000 after purchasing an additional 307 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new position in shares of Jabil during the first quarter worth about $52,000. Institutional investors and hedge funds own 93.39% of the company's stock.

Jabil Stock Down 4.8%

Jabil stock traded down $11.13 during midday trading on Wednesday, hitting $219.18. The stock had a trading volume of 1,842,997 shares, compared to its average volume of 1,234,701. The stock has a market cap of $23.52 billion, a P/E ratio of 42.56, a P/E/G ratio of 1.61 and a beta of 1.20. The business has a fifty day moving average price of $212.70 and a 200 day moving average price of $172.03. Jabil, Inc. has a 12 month low of $99.67 and a 12 month high of $232.84. The company has a current ratio of 0.98, a quick ratio of 0.64 and a debt-to-equity ratio of 1.85.

Jabil (NYSE:JBL - Get Free Report) last posted 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 analyst estimates of $7.03 billion. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The business's revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.89 earnings per share. Research analysts predict that Jabil, Inc. will post 8.05 EPS for the current year.

Jabil Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Monday, August 18th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, August 15th. This represents a dividend yield of 14.0%. Jabil's payout ratio is currently 6.21%.

Wall Street Analysts Forecast Growth

JBL has been the topic of a number of recent research reports. UBS Group boosted 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. Stifel Nicolaus initiated coverage on Jabil in a research report on Wednesday, July 2nd. They set a "buy" rating and a $245.00 target price on the stock. Barclays lifted their target price on Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 17th. Argus raised Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday, June 18th. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $230.00 price objective (up from $170.00) on shares of Jabil in a report on Wednesday, June 18th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $231.71.

Insider Buying and Selling at Jabil

In other news, CEO Michael Dastoor sold 18,234 shares of the business's 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 transaction, the chief executive officer directly owned 203,459 shares in the company, valued at approximately $38,994,951.94. The trade was a 8.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Steven D. Borges sold 22,443 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $200.01, for a total value of $4,488,824.43. Following the transaction, the executive vice president owned 102,803 shares of the company's stock, valued at approximately $20,561,628.03. This represents a 17.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 332,847 shares of company stock valued at $66,534,847. 1.73% of the stock is currently owned by insiders.

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).