Chevy Chase Trust Holdings LLC Cuts Stock Position in Jabil, Inc. (NYSE:JBL)

Chevy Chase Trust Holdings LLC lowered its stake in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,447 shares of the technology company's stock after selling 1,768 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Jabil worth $7,817,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Asset Management One Co. Ltd. boosted its position in Jabil by 2.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 54,100 shares of the technology company's stock worth $7,361,000 after purchasing an additional 1,273 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Jabil in the 1st quarter worth approximately $677,000. Whalen Wealth Management Inc. boosted its position in Jabil by 49.3% in the 1st quarter. Whalen Wealth Management Inc. now owns 2,728 shares of the technology company's stock worth $371,000 after purchasing an additional 901 shares in the last quarter. Live Oak Private Wealth LLC lifted its position in shares of Jabil by 3.2% during the 1st quarter. Live Oak Private Wealth LLC now owns 44,117 shares of the technology company's stock valued at $6,003,000 after buying an additional 1,361 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC lifted its position in shares of Jabil by 4,347.8% during the 1st quarter. Moisand Fitzgerald Tamayo LLC now owns 1,023 shares of the technology company's stock valued at $139,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 93.39% of the company's stock.

Jabil Trading Up 0.9%

NYSE JBL traded up $2.01 during trading on Friday, hitting $217.32. The stock had a trading volume of 3,319,519 shares, compared to its average volume of 1,436,944. The company has a market capitalization of $23.33 billion, a PE ratio of 42.20, a PEG ratio of 1.50 and a beta of 1.14. The company has a quick ratio of 0.64, a current ratio of 0.98 and a debt-to-equity ratio of 1.85. The firm has a 50 day moving average price of $168.44 and a 200 day moving average price of $155.08. Jabil, Inc. has a twelve month low of $95.85 and a twelve month high of $218.30.

Jabil (NYSE:JBL - Get Free Report) last announced its quarterly earnings data on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.27. The business had revenue of $7.83 billion during 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 business's quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.89 EPS. As a group, equities research analysts forecast that Jabil, Inc. will post 8.05 earnings per share for the current year.

Jabil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Thursday, May 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.15%. The ex-dividend date was Thursday, May 15th. Jabil's payout ratio is 6.21%.

Insider Buying and Selling

In other Jabil news, CEO Michael Dastoor sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $169.90, for a total value of $1,699,000.00. Following the completion of the sale, the chief executive officer now owns 221,693 shares in the company, valued at approximately $37,665,640.70. The trade was a 4.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anousheh Ansari sold 2,500 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $207.57, for a total value of $518,925.00. Following the completion of the sale, the director now owns 37,400 shares of the company's stock, valued at approximately $7,763,118. This represents a 6.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 280,476 shares of company stock worth $52,780,286 over the last 90 days. 1.73% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on JBL. Wall Street Zen upgraded Jabil from a "hold" rating to a "buy" rating in a research report on Monday, May 19th. Barclays increased their price objective on Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a research note on Tuesday, June 17th. 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. JPMorgan Chase & Co. increased their price objective on Jabil from $180.00 to $214.00 and gave the company an "overweight" rating in a research note on Wednesday, June 18th. Finally, Argus raised Jabil from a "hold" rating to a "buy" rating 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 data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $213.57.

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).