Cyndeo Wealth Partners LLC Acquires New Position in Jabil, Inc. (NYSE:JBL)

Cyndeo Wealth Partners LLC purchased a new stake in Jabil, Inc. (NYSE:JBL - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 21,752 shares of the technology company's stock, valued at approximately $2,960,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its position in Jabil by 21.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 565 shares of the technology company's stock valued at $77,000 after buying an additional 99 shares during the period. Utah Retirement Systems lifted its position in Jabil by 0.5% during the fourth quarter. Utah Retirement Systems now owns 18,382 shares of the technology company's stock valued at $2,645,000 after buying an additional 100 shares during the period. Atlas Capital Advisors Inc. lifted its position in Jabil by 1.0% during the fourth quarter. Atlas Capital Advisors Inc. now owns 10,463 shares of the technology company's stock valued at $1,506,000 after buying an additional 105 shares during the period. Harbor Capital Advisors Inc. raised its position in shares of Jabil by 110.5% in the 1st quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock worth $30,000 after purchasing an additional 116 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV raised its position in shares of Jabil by 0.9% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 14,075 shares of the technology company's stock worth $2,054,000 after purchasing an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 93.39% of the company's stock.

Analyst Ratings Changes

JBL has been the subject of several recent analyst reports. UBS Group lifted their price target on Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on Jabil from $180.00 to $214.00 and gave the stock an "overweight" rating in a research report on Wednesday. Argus raised Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday. Barclays lifted their price target on Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $230.00 price target (up previously from $170.00) on shares of Jabil in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $200.00.

Insider Buying and Selling at Jabil

In other Jabil news, Chairman Mark T. Mondello sold 20,000 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $166.75, for a total transaction of $3,335,000.00. Following the completion of the sale, the chairman now directly owns 1,710,192 shares in the company, valued at $285,174,516. The trade was a 1.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Dastoor sold 10,000 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $169.90, for a total value of $1,699,000.00. Following the sale, the chief executive officer now owns 221,693 shares of the company's stock, valued at approximately $37,665,640.70. This represents a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock worth $7,665,200 in the last three months. 1.73% of the stock is currently owned by company insiders.

Jabil Stock Performance

NYSE:JBL traded up $7.54 during mid-day trading on Wednesday, reaching $204.43. The company's stock had a trading volume of 3,556,070 shares, compared to its average volume of 1,457,520. Jabil, Inc. has a 12-month low of $95.85 and a 12-month high of $207.03. The firm's fifty day moving average price is $157.94 and its two-hundred day moving average price is $151.63. The company has a current ratio of 0.98, a quick ratio of 0.66 and a debt-to-equity ratio of 1.85. The stock has a market cap of $21.95 billion, a P/E ratio of 39.69, a PEG ratio of 1.90 and a beta of 1.14.

Jabil (NYSE:JBL - Get Free Report) last issued its earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share 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 during the quarter, compared to analyst estimates of $7.03 billion. During the same quarter in the previous year, the firm earned $1.89 EPS. Jabil's revenue was up 15.7% on a year-over-year basis. On average, equities analysts forecast that Jabil, Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.16%. Jabil's dividend payout ratio is currently 7.66%.

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).