Cerity Partners LLC Grows Holdings in Jabil, Inc. (NYSE:JBL)

Cerity Partners LLC lifted its holdings in Jabil, Inc. (NYSE:JBL - Free Report) by 19.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 89,726 shares of the technology company's stock after purchasing an additional 14,319 shares during the period. Cerity Partners LLC owned approximately 0.08% of Jabil worth $12,209,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in JBL. Wellington Management Group LLP grew its holdings in Jabil by 70,781.4% during the 4th quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company's stock worth $835,876,000 after acquiring an additional 5,800,535 shares in the last quarter. Norges Bank purchased a new stake in Jabil in the 4th quarter valued at $218,430,000. Point72 Asset Management L.P. raised 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. raised its position in Jabil by 16,190.6% in 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 last quarter. Finally, GAMMA Investing LLC raised its position in Jabil by 17,410.3% during the 1st quarter. GAMMA Investing LLC now owns 524,958 shares of the technology company's stock worth $71,431,000 after buying an additional 521,960 shares during the last quarter. Institutional investors and hedge funds own 93.39% of the company's stock.

Wall Street Analyst Weigh In

JBL has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price objective on shares of Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. JPMorgan Chase & Co. increased their price objective on shares of Jabil from $180.00 to $214.00 and gave the company an "overweight" rating in a research note on Wednesday, June 18th. 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 research note on Wednesday, June 18th. Wall Street Zen cut shares of Jabil from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Finally, Barclays increased their price objective on shares of Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a report on Tuesday, June 17th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Jabil has a consensus rating of "Buy" and an average target price of $225.71.

Jabil Trading Down 0.6%

NYSE JBL opened at $220.66 on Tuesday. Jabil, Inc. has a one year low of $95.85 and a one year high of $227.54. The company's 50 day moving average price is $185.78 and its 200 day moving average price is $161.53. 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 has a market capitalization of $23.68 billion, a price-to-earnings ratio of 42.85, a PEG ratio of 1.56 and a beta of 1.20.

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

Jabil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Thursday, May 15th were paid a $0.08 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.15%. Jabil's dividend payout ratio (DPR) is presently 6.21%.

Insiders Place Their Bets

In other Jabil news, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $216.59, for a total transaction of $4,331,800.00. Following the sale, the chairman directly owned 1,440,190 shares of the company's stock, valued at approximately $311,930,752.10. This represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven A. Raymund sold 15,955 shares of the stock in a transaction on 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 directly owned 99,828 shares in the company, valued at $21,645,705.24. This trade represents a 13.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 297,431 shares of company stock valued at $58,163,159. 1.73% of the stock is owned by insiders.

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).

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