Comerica Bank Increases Holdings in Jabil, Inc. $JBL

Key Points

• Comerica Bank increased its stake in Jabil, Inc. by 104.5%, holding 45,885 shares valued at approximately $6.24 million as of the latest SEC filing.
• Several institutional investors have made substantial changes to their positions in Jabil, with a notable 93.39% of the stock now owned by such entities.
• Jabil's stock price has seen multiple upgrades from analysts, with price targets reaching as high as $256 and an average rating of "Moderate Buy" based on recent evaluations.

Comerica Bank raised its holdings in Jabil, Inc. (NYSE:JBL - Free Report) by 104.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 45,885 shares of the technology company's stock after buying an additional 23,447 shares during the quarter. Comerica Bank's holdings in Jabil were worth $6,244,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its holdings in shares of Jabil by 12.9% in the first quarter. Wellington Management Group LLP now owns 6,556,153 shares of the technology company's stock valued at $892,096,000 after purchasing an additional 747,423 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Jabil by 15.7% in the first quarter. JPMorgan Chase & Co. now owns 2,173,095 shares of the technology company's stock valued at $295,693,000 after purchasing an additional 295,496 shares during the period. Northern Trust Corp increased its holdings in shares of Jabil by 8.3% in the first quarter. Northern Trust Corp now owns 1,384,364 shares of the technology company's stock valued at $188,370,000 after purchasing an additional 105,632 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Jabil by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 1,118,282 shares of the technology company's stock valued at $152,165,000 after purchasing an additional 37,201 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in shares of Jabil by 1,007.6% in the fourth 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 period. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Andrew Priestley sold 13,913 shares of Jabil stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $203.17, for a total transaction of $2,826,704.21. Following the transaction, the executive vice president owned 53,528 shares in the company, valued at approximately $10,875,283.76. This trade represents a 20.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Steven A. Raymund sold 15,955 shares of Jabil stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $216.83, for a total value of $3,459,522.65. Following the transaction, the director owned 99,828 shares in the company, valued at approximately $21,645,705.24. The trade was a 13.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 312,847 shares of company stock valued at $63,199,847. 1.73% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

JBL has been the topic of a number of research reports. 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. Argus raised Jabil from a "hold" rating to a "buy" rating in a report on Wednesday, June 18th. The Goldman Sachs Group raised their target price on Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. UBS Group raised 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. Finally, JPMorgan Chase & Co. raised their target price on Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $231.71.

Jabil Price Performance

Shares of NYSE JBL traded down $0.77 during midday trading on Wednesday, hitting $201.31. The stock had a trading volume of 318,858 shares, compared to its average volume of 1,413,914. The company has a market capitalization of $21.60 billion, a PE ratio of 39.11, a P/E/G ratio of 1.19 and a beta of 1.25. The stock has a 50 day simple moving average of $218.07 and a 200-day simple moving average of $176.40. Jabil, Inc. has a 1 year low of $99.67 and a 1 year high of $232.84. The company has a quick ratio of 0.64, a current ratio of 0.98 and a debt-to-equity ratio of 1.85.

Jabil (NYSE:JBL - Get Free Report) last released its earnings results 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 business had revenue of $7.83 billion for 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%.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 earnings per share. Jabil has set its FY 2025 guidance at 9.330-9.330 EPS. Q4 2025 guidance at 2.640-3.040 EPS. On average, sell-side analysts expect that Jabil, Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, August 15th. Jabil's dividend payout ratio (DPR) is 6.21%.

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).