Charles Schwab Investment Management Inc. Reduces Stock Position in Jabil, Inc. (NYSE:JBL)

Charles Schwab Investment Management Inc. cut its position in Jabil, Inc. (NYSE:JBL - Free Report) by 1.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,027,652 shares of the technology company's stock after selling 17,561 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.96% of Jabil worth $139,833,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV acquired a new stake in Jabil during the first quarter worth about $27,000. Harbor Capital Advisors Inc. lifted its position in shares of Jabil by 110.5% in the first quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock valued at $30,000 after acquiring an additional 116 shares in the last quarter. Golden State Wealth Management LLC lifted its position in 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 buying an additional 264 shares in the last quarter. True Wealth Design LLC lifted its position in 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 buying an additional 307 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new position in Jabil during the first quarter worth approximately $52,000. 93.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

JBL has been the topic of a number of research analyst reports. UBS Group lifted their target price on Jabil from $157.00 to $208.00 and gave the company a "neutral" rating in a research report on Wednesday, June 18th. Bank of America boosted their price objective on Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Stifel Nicolaus began coverage on shares of Jabil in a research note on Wednesday, July 2nd. They set a "buy" rating and a $245.00 target price for the company. The Goldman Sachs Group increased their price objective on Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Finally, JPMorgan Chase & Co. increased their target price on Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Jabil currently has an average rating of "Buy" and a consensus target price of $231.71.

Insider Transactions at Jabil

In other Jabil news, Director Steven A. Raymund sold 15,955 shares of the business's stock in a transaction dated 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 transaction, the director owned 99,828 shares in the company, valued at $21,645,705.24. The trade was a 13.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Mark T. Mondello sold 150,000 shares of the business's stock in a transaction dated 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 approximately $301,631,919.36. This represents a 8.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 332,847 shares of company stock valued at $66,534,847 in the last ninety days. Company insiders own 1.73% of the company's stock.

Jabil Price Performance

JBL stock traded down $11.13 during midday trading on Wednesday, hitting $219.18. 1,842,997 shares of the stock were exchanged, compared to its average volume of 1,413,318. 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 stock's 50-day moving average price is $211.75 and its 200-day moving average price is $171.71. The stock has a market cap of $23.52 billion, a price-to-earnings ratio of 42.56, a PEG ratio of 1.56 and a beta of 1.20. Jabil, Inc. has a fifty-two week low of $99.67 and a fifty-two week high of $232.84.

Jabil (NYSE:JBL - Get Free Report) last released its quarterly earnings results 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 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%. Jabil's revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.89 earnings per share. Research analysts predict that Jabil, Inc. will post 8.05 earnings per share for the current year.

Jabil Dividend Announcement

The company also recently announced a dividend, which will be paid on Wednesday, September 3rd. Investors of record on Monday, August 18th will be issued a $0.08 dividend. The ex-dividend date is Friday, August 15th. This represents a yield of 14.0%. Jabil's dividend payout ratio (DPR) is presently 6.21%.

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).