3,092 Shares in Jabil, Inc. (NYSE:JBL) Purchased by Convergence Investment Partners LLC

Convergence Investment Partners LLC acquired a new stake in shares of Jabil, Inc. (NYSE:JBL - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,092 shares of the technology company's stock, valued at approximately $421,000.

Several other institutional investors have also added to or reduced their stakes in JBL. Creative Financial Designs Inc. ADV purchased a new stake in Jabil during the first quarter valued at about $27,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Jabil in the fourth quarter worth about $29,000. Harbor Capital Advisors Inc. lifted its holdings 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 worth $30,000 after buying an additional 116 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Jabil by 2,400.0% in 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. Finally, True Wealth Design LLC lifted its holdings in shares of Jabil by 3,411.1% in 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. 93.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Chairman Mark T. Mondello sold 20,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $216.59, for a total value of $4,331,800.00. Following the completion of the sale, the chairman owned 1,440,190 shares of the company's stock, valued at $311,930,752.10. This trade represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Steven A. Raymund sold 13,432 shares of the firm's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $223.11, for a total value of $2,996,813.52. Following the completion of the sale, the director directly owned 86,396 shares of the company's stock, valued at $19,275,811.56. The trade was a 13.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 322,847 shares of company stock valued at $63,849,847 over the last three months. Insiders own 1.73% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. Wall Street Zen downgraded shares of Jabil from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $230.00 target price (up from $170.00) on shares of Jabil in a research note on Wednesday, June 18th. Stifel Nicolaus started coverage on shares of Jabil in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $245.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of Jabil from $214.00 to $256.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $231.71.

Jabil Price Performance

NYSE JBL traded up $3.92 on Friday, reaching $222.33. 854,384 shares of the company's stock traded hands, compared to its average volume of 1,390,671. Jabil, Inc. has a 12 month low of $95.85 and a 12 month high of $229.16. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.98 and a quick ratio of 0.64. The stock has a 50-day simple moving average of $198.29 and a 200 day simple moving average of $166.58. The stock has a market cap of $23.86 billion, a PE ratio of 43.17, a P/E/G ratio of 1.55 and a beta of 1.20.

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

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).