Concentric Capital Strategies LP Acquires New Holdings in Jabil, Inc. $JBL

Key Points

• Concentric Capital Strategies LP acquired 27,842 shares of Jabil, Inc. valued at approximately $3.79 million during the first quarter, indicating strong institutional interest in the company.
• Jabil's recent quarterly earnings beat consensus estimates, with an EPS of $2.55 and revenue reaching $7.83 billion, reflecting a 15.7% year-over-year increase.
• The company has received optimistic ratings from multiple analysts, with targets ranging from $225 to $245, despite one downgrade to a "hold" rating by Zacks Research.

Concentric Capital Strategies LP acquired a new position in shares of Jabil, Inc. (NYSE:JBL - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 27,842 shares of the technology company's stock, valued at approximately $3,788,000.

Several other hedge funds have also modified their holdings of JBL. Point72 Asset Management L.P. raised its holdings in shares of Jabil by 1,007.6% during the 4th quarter. Point72 Asset Management L.P. now owns 965,629 shares of the technology company's stock worth $138,954,000 after acquiring an additional 878,444 shares in the last quarter. Wellington Management Group LLP raised its holdings in Jabil by 12.9% during the 1st quarter. Wellington Management Group LLP now owns 6,556,153 shares of the technology company's stock valued at $892,096,000 after buying an additional 747,423 shares during the period. Lord Abbett & CO. LLC purchased a new stake in Jabil during the 1st quarter valued at $81,378,000. Jacobs Levy Equity Management Inc. raised its holdings in Jabil by 16,190.6% during 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 buying an additional 549,347 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Jabil by 17,410.3% during the 1st quarter. GAMMA Investing LLC now owns 524,958 shares of the technology company's stock valued at $71,431,000 after buying an additional 521,960 shares during the period. 93.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Jabil

In other news, EVP Andrew Priestley sold 13,913 shares of the stock in a transaction 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 of the company's stock, valued at approximately $10,875,283.76. This represents a 20.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mark T. Mondello sold 150,000 shares of the stock in a transaction on 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 directly owned 1,560,192 shares in the company, valued at $301,631,919.36. The trade was a 8.77% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 332,847 shares of company stock worth $67,200,247. Insiders own 1.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Bank of America increased their price target on Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a report on Friday, June 20th. Stifel Nicolaus assumed coverage on Jabil in a report on Wednesday, July 2nd. They set a "buy" rating and a $245.00 price target on the stock. Argus upgraded Jabil from a "hold" rating to a "buy" rating in a report on Wednesday, June 18th. Barclays increased their price target on Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Finally, JPMorgan Chase & Co. upped their price objective on Jabil from $214.00 to $256.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $231.71.

Jabil Trading Up 0.1%

Jabil stock traded up $0.11 during mid-day trading on Tuesday, hitting $209.28. The company's stock had a trading volume of 277,278 shares, compared to its average volume of 1,406,619. Jabil, Inc. has a one year low of $99.67 and a one year high of $232.84. 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 company has a 50 day moving average of $217.36 and a 200-day moving average of $177.58. The stock has a market cap of $22.46 billion, a PE ratio of 40.63, a P/E/G ratio of 1.23 and a beta of 1.25.

Jabil (NYSE:JBL - Get Free Report) last posted its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.28 by $0.27. Jabil had a return on equity of 60.19% and a net margin of 2.02%.The business had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.03 billion. During the same quarter in the prior year, the company earned $1.89 EPS. The business's revenue was up 15.7% compared to the same quarter last year. Jabil has set its FY 2025 guidance at 9.330-9.330 EPS. Q4 2025 guidance at 2.640-3.040 EPS. On average, research analysts anticipate that Jabil, Inc. will post 8.05 EPS for the current year.

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.2%. Jabil's dividend payout ratio is presently 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).