Dakota Wealth Management Invests $1.25 Million in Jabil, Inc. $JBL

Key Points

• Dakota Wealth Management invested approximately $1.25 million in Jabil, acquiring 5,751 shares in the second quarter.
• Several hedge funds have adjusted their positions in Jabil, with institutional investors now owning 93.39% of the company's stock.
• Analysts have raised their price targets for Jabil, with Barclays setting a new target of $267.00 and Bank of America increasing theirs to $255.00.

Dakota Wealth Management acquired a new position in Jabil, Inc. (NYSE:JBL - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,751 shares of the technology company's stock, valued at approximately $1,254,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Perigon Wealth Management LLC bought a new position in shares of Jabil in the second quarter worth $248,000. Mather Group LLC. lifted its holdings in Jabil by 5.4% in the second quarter. Mather Group LLC. now owns 1,186 shares of the technology company's stock worth $259,000 after purchasing an additional 61 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Jabil by 12.2% in the second quarter. Public Employees Retirement System of Ohio now owns 93,444 shares of the technology company's stock worth $20,380,000 after purchasing an additional 10,153 shares during the period. Financial Management Professionals Inc. grew its position in Jabil by 58.1% in the 2nd quarter. Financial Management Professionals Inc. now owns 264 shares of the technology company's stock valued at $58,000 after buying an additional 97 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in Jabil by 23.6% during the 2nd quarter. Ballentine Partners LLC now owns 2,078 shares of the technology company's stock valued at $453,000 after buying an additional 397 shares during the period. Institutional investors own 93.39% of the company's stock.

Analysts Set New Price Targets

JBL has been the subject of several recent analyst reports. Barclays increased their price objective on shares of Jabil from $223.00 to $267.00 and gave the company an "overweight" rating in a report on Friday. Bank of America lifted their price target on Jabil from $245.00 to $255.00 and gave the company a "buy" rating in a research report on Friday. Wall Street Zen downgraded Jabil from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Stifel Nicolaus assumed coverage on Jabil in a research note on Wednesday, July 2nd. They set a "buy" rating and a $245.00 target price for the company. Finally, UBS Group lifted 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. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $243.71.

Insider Transactions at Jabil

In other Jabil news, Director Anousheh Ansari sold 1,000 shares of the company's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $222.75, for a total transaction of $222,750.00. Following the completion of the sale, the director directly owned 36,400 shares of the company's stock, valued at approximately $8,108,100. This represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Frederic E. Mccoy sold 4,500 shares of Jabil stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $223.55, for a total transaction of $1,005,975.00. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold a total of 86,416 shares of company stock worth $18,625,639 in the last three months. Insiders own 1.73% of the company's stock.

Jabil Stock Performance

JBL opened at $216.19 on Friday. The company has a quick ratio of 0.64, a current ratio of 1.00 and a debt-to-equity ratio of 1.57. The firm has a market cap of $23.20 billion, a PE ratio of 36.27, a P/E/G ratio of 1.24 and a beta of 1.25. The business has a fifty day simple moving average of $216.57 and a 200-day simple moving average of $184.13. Jabil, Inc. has a fifty-two week low of $108.66 and a fifty-two week high of $237.14.

Jabil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were given a $0.08 dividend. The ex-dividend date was Friday, August 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.1%. Jabil's dividend payout ratio (DPR) is 6.21%.

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).

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