Donoghue Forlines LLC Purchases New Stake in Jabil, Inc. (NYSE:JBL)

Key Points

• Donoghue Forlines LLC has invested $2.28 million in Jabil, Inc. by purchasing 16,789 shares of the company, according to a recent Form 13F filing.
• Jabil reported quarterly earnings of $2.55 per share, exceeding analysts' expectations, with a revenue of $7.83 billion, which is a 15.7% increase from the previous year.
• Multiple investment firms have adjusted their positions in Jabil, with significant increases in holdings from entities such as Northern Trust Corp and Point72 Asset Management L.P., indicating strong institutional interest.

Donoghue Forlines LLC acquired a new stake in Jabil, Inc. (NYSE:JBL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 16,789 shares of the technology company's stock, valued at approximately $2,284,000.

Several other institutional investors also recently bought and sold shares of the company. Cordatus Wealth Management LLC boosted its position in shares of Jabil by 2.9% during the 1st quarter. Cordatus Wealth Management LLC now owns 2,429 shares of the technology company's stock worth $330,000 after purchasing an additional 68 shares in the last quarter. AlphaCore Capital LLC boosted its position in shares of Jabil by 2.4% during the 1st quarter. AlphaCore Capital LLC now owns 3,206 shares of the technology company's stock worth $436,000 after purchasing an additional 76 shares in the last quarter. Allworth Financial LP boosted its position in shares of Jabil by 22.5% during the 1st quarter. Allworth Financial LP now owns 529 shares of the technology company's stock worth $77,000 after purchasing an additional 97 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Jabil by 21.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 565 shares of the technology company's stock worth $77,000 after purchasing an additional 99 shares in the last quarter. Finally, Utah Retirement Systems boosted its position in shares of Jabil by 0.5% during the 4th quarter. Utah Retirement Systems now owns 18,382 shares of the technology company's stock worth $2,645,000 after purchasing an additional 100 shares in the last quarter. 93.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Jabil

In other news, Chairman Mark T. Mondello sold 150,000 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $193.33, for a total transaction of $28,999,500.00. Following the completion of the transaction, the chairman owned 1,560,192 shares of the company's stock, valued at $301,631,919.36. This represents a 8.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Steven A. Raymund sold 15,955 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $216.83, for a total transaction of $3,459,522.65. Following the sale, the director directly owned 99,828 shares of the company's stock, valued at approximately $21,645,705.24. This trade represents a 13.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 342,847 shares of company stock worth $68,233,847. Corporate insiders own 1.73% of the company's stock.

Jabil Trading Up 1.8%

NYSE:JBL traded up $4.03 on Friday, reaching $224.52. The stock had a trading volume of 1,315,372 shares, compared to its average volume of 1,250,815. The company has a market cap of $24.09 billion, a price-to-earnings ratio of 43.60, a P/E/G ratio of 1.57 and a beta of 1.20. 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 firm's fifty day moving average is $209.52 and its two-hundred day moving average is $170.95. Jabil, Inc. has a 12-month low of $99.67 and a 12-month high of $232.84.

Jabil (NYSE:JBL - Get Free Report) last released its earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share (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 company had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.03 billion. During the same period in the prior year, the firm earned $1.89 EPS. The firm's quarterly revenue was up 15.7% on a year-over-year basis. Equities analysts expect that Jabil, Inc. will post 8.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

JBL has been the topic of several research analyst reports. Wall Street Zen lowered shares of Jabil from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. JPMorgan Chase & Co. boosted their price objective on shares of Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Argus upgraded shares of Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday, June 18th. 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. Finally, Bank of America boosted their price objective on shares of Jabil from $225.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $231.71.

Jabil Company 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).