Contravisory Investment Management Inc. Invests $412,000 in Jabil, Inc. $JBL

Key Points

• Contravisory Investment Management Inc. has made a new investment of approximately $412,000 in Jabil, Inc., acquiring 1,890 shares during the second quarter.
• The company reported earnings of $2.55 EPS for the last quarter, surpassing estimates and achieving a 15.7% year-over-year revenue increase.
• Jabil's stock has an average target price of $231.71, with recent ratings reflecting strong confidence from analysts in its growth potential.

Contravisory Investment Management Inc. acquired a new stake in Jabil, Inc. (NYSE:JBL - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,890 shares of the technology company's stock, valued at approximately $412,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of JBL. Creative Financial Designs Inc. ADV bought a new stake in Jabil in the first quarter worth $27,000. Harbor Capital Advisors Inc. increased its position in Jabil by 110.5% during 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 during the last quarter. Groupe la Francaise raised its stake in shares of Jabil by 35.2% in the first quarter. Groupe la Francaise now owns 246 shares of the technology company's stock valued at $34,000 after acquiring an additional 64 shares during the period. Golden State Wealth Management LLC lifted its holdings in shares of Jabil by 2,400.0% in the 1st quarter. Golden State Wealth Management LLC now owns 275 shares of the technology company's stock worth $37,000 after acquiring an additional 264 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new position in shares of Jabil during the 1st quarter worth about $52,000. Hedge funds and other institutional investors own 93.39% of the company's stock.

Insider Transactions at Jabil

In other news, EVP Frederic E. Mccoy sold 4,500 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $223.55, for a total transaction of $1,005,975.00. Following the transaction, the executive vice president directly owned 124,203 shares in the company, valued at approximately $27,765,580.65. This trade represents a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anousheh Ansari sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $222.75, for a total transaction of $222,750.00. Following the completion of the transaction, the director directly owned 36,400 shares of the company's stock, valued at $8,108,100. This trade represents a 2.67% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,371 shares of company stock worth $22,085,161. Insiders own 1.73% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on JBL. Stifel Nicolaus assumed coverage on shares of Jabil in a research report on Wednesday, July 2nd. They issued a "buy" rating and a $245.00 price objective on the stock. JPMorgan Chase & Co. increased their price target on Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Raymond James Financial reissued a "strong-buy" rating and set a $230.00 price target (up from $170.00) on shares of Jabil in a research note on Wednesday, June 18th. Wall Street Zen downgraded Jabil from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, Barclays increased their target price on Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $231.71.

Jabil Stock Up 0.4%

NYSE JBL traded up $0.83 on Friday, reaching $224.12. 2,883,233 shares of the stock traded hands, compared to its average volume of 1,283,373. Jabil, Inc. has a 12 month low of $108.66 and a 12 month high of $232.84. The company has a market cap of $24.05 billion, a price-to-earnings ratio of 43.52, a PEG ratio of 1.32 and a beta of 1.25. The company has a fifty day moving average price of $216.26 and a 200-day moving average price of $181.14. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.64 and a current ratio of 0.98.

Jabil (NYSE:JBL - Get Free Report) last announced its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.28 by $0.27. Jabil had a return on equity of 60.19% and a net margin of 2.02%.The firm had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.03 billion. During the same quarter last year, the firm posted $1.89 earnings per share. The business's revenue for the quarter was up 15.7% on a year-over-year basis. As a group, research analysts forecast that Jabil, Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were issued a $0.08 dividend. The ex-dividend date was Friday, August 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.1%. Jabil's payout ratio is currently 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).