Cetera Investment Advisers Has $5.99 Million Holdings in Jabil, Inc. (NYSE:JBL)

Key Points

• Cetera Investment Advisers increased its stake in Jabil, Inc. by 20.6%, acquiring an additional 7,534 shares to reach a total of 44,035 shares worth approximately $5.99 million.
• Several institutional investors, including Harbor Capital Advisors and Golden State Wealth Management, significantly increased their holdings in Jabil during the first quarter, indicating strong investor interest in the company.
• Jabil reported a quarterly earnings per share of $2.55, exceeding analysts' expectations, with a notable 15.7% year-over-year revenue growth to $7.83 billion.

Cetera Investment Advisers lifted its stake in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 20.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,035 shares of the technology company's stock after purchasing an additional 7,534 shares during the quarter. Cetera Investment Advisers' holdings in Jabil were worth $5,992,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Avantax Advisory Services Inc. lifted its holdings in shares of Jabil by 49.9% in the first quarter. Avantax Advisory Services Inc. now owns 4,798 shares of the technology company's stock valued at $653,000 after buying an additional 1,597 shares during the period. Machina Capital S.A.S. bought a new position in shares of Jabil during the 1st quarter valued at about $566,000. Convergence Investment Partners LLC acquired a new position in shares of Jabil in the 1st quarter worth approximately $421,000. Roundview Capital LLC raised its holdings in shares of Jabil by 4.9% in the 1st quarter. Roundview Capital LLC now owns 8,128 shares of the technology company's stock worth $1,106,000 after purchasing an additional 379 shares in the last quarter. Finally, Oak Thistle LLC raised its holdings in shares of Jabil by 57.3% in the 1st quarter. Oak Thistle LLC now owns 8,961 shares of the technology company's stock worth $1,219,000 after purchasing an additional 3,266 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors.

Jabil Stock Up 1.6%

NYSE JBL traded up $3.59 during trading on Monday, reaching $222.15. 1,058,435 shares of the company's stock were exchanged, compared to its average volume of 1,264,365. The firm has a market capitalization of $23.84 billion, a PE ratio of 43.14, a P/E/G ratio of 1.53 and a beta of 1.20. Jabil, Inc. has a fifty-two week low of $95.85 and a fifty-two week 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. The company's fifty day simple moving average is $204.15 and its 200-day simple moving average is $169.04.

Jabil (NYSE:JBL - Get Free Report) last released its quarterly earnings data on Tuesday, June 17th. The technology company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.27. The firm 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 company's revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.89 EPS. Sell-side analysts predict that Jabil, Inc. will post 8.05 EPS for the current year.

Insider Transactions at Jabil

In related news, Director Anousheh Ansari sold 1,000 shares of the company's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $222.75, for a total value of $222,750.00. Following the completion of the sale, the director directly owned 36,400 shares in the company, valued at approximately $8,108,100. This represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Andrew Priestley sold 3,702 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $225.00, for a total value of $832,950.00. Following the transaction, the executive vice president owned 44,833 shares in the company, valued at approximately $10,087,425. This trade represents a 7.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 322,847 shares of company stock valued at $63,849,847. Insiders own 1.73% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on JBL. Barclays lifted their price target on shares of Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 17th. UBS Group lifted their target price on Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. JPMorgan Chase & Co. upped their target price on Jabil from $214.00 to $256.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Bank of America increased their price target on Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, June 20th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $230.00 price objective (up from $170.00) on shares of Jabil in a research note on Wednesday, June 18th. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $231.71.

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).