Entropy Technologies LP Invests $2.07 Million in Jabil, Inc. (NYSE:JBL)

Key Points

• Entropy Technologies LP has invested approximately $2.07 million in Jabil, Inc., acquiring 15,187 shares during the first quarter of the year.
• Jabil received positive analyst ratings with multiple upgrades, including price target increases from UBS, Barclays, and Bank of America, reflecting strong growth expectations.
• In its latest earnings report, Jabil surpassed analysts' estimates with $2.55 EPS and generated revenue of $7.83 billion for the quarter, marking a 15.7% year-over-year increase.

Entropy Technologies LP purchased a new position in shares of Jabil, Inc. (NYSE:JBL - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,187 shares of the technology company's stock, valued at approximately $2,066,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV acquired a new position in shares of Jabil in the first quarter worth approximately $27,000. Harbor Capital Advisors Inc. increased its holdings in shares of 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 in the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Jabil by 2,400.0% during the first quarter. Golden State Wealth Management LLC now owns 275 shares of the technology company's stock valued at $37,000 after acquiring an additional 264 shares in the last quarter. True Wealth Design LLC grew its holdings in Jabil by 3,411.1% during 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. Finally, Wayfinding Financial LLC bought a new stake in Jabil during the first quarter worth $52,000. 93.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on JBL. UBS Group upped their price target on Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. Barclays upped their price target on Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a research report on Tuesday, June 17th. Stifel Nicolaus started coverage on Jabil in a research note on Wednesday, July 2nd. They set a "buy" rating and a $245.00 price objective on the stock. Raymond James Financial reiterated a "strong-buy" rating and set a $230.00 price objective (up from $170.00) on shares of Jabil in a research note on Wednesday, June 18th. Finally, Bank of America upped their target price on Jabil from $225.00 to $245.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. One 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 has a consensus rating of "Buy" and a consensus target price of $231.71.

Jabil Price Performance

Shares of Jabil stock opened at $224.52 on Monday. The business's 50-day moving average price is $209.52 and its 200-day moving average price is $170.95. The company has a current ratio of 0.98, a quick ratio of 0.64 and a debt-to-equity ratio of 1.85. Jabil, Inc. has a 12 month low of $99.67 and a 12 month high of $232.84. The firm has a market capitalization of $24.09 billion, a PE ratio of 43.60, a price-to-earnings-growth ratio of 1.57 and a beta of 1.20.

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

Insiders Place Their Bets

In other Jabil news, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $219.20, for a total value of $4,384,000.00. Following the completion of the sale, the chairman owned 1,420,190 shares in the company, valued at approximately $311,305,648. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Frederic E. Mccoy sold 4,500 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $223.55, for a total value of $1,005,975.00. Following the completion of the sale, the executive vice president owned 124,203 shares of the company's stock, valued at approximately $27,765,580.65. This trade represents a 3.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 342,847 shares of company stock worth $68,233,847. Insiders own 1.73% of the company's stock.

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).

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