Exchange Traded Concepts LLC Boosts Holdings in Jabil, Inc. (NYSE:JBL)

Exchange Traded Concepts LLC grew its position in Jabil, Inc. (NYSE:JBL - Free Report) by 40.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,454 shares of the technology company's stock after buying an additional 1,282 shares during the quarter. Exchange Traded Concepts LLC's holdings in Jabil were worth $606,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP increased its stake in Jabil by 70,781.4% during the fourth quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company's stock worth $835,876,000 after purchasing an additional 5,800,535 shares during the period. Norges Bank purchased a new position in shares of Jabil in the fourth quarter valued at approximately $218,430,000. Point72 Asset Management L.P. grew its holdings in shares of Jabil by 1,007.6% in the fourth quarter. Point72 Asset Management L.P. now owns 965,629 shares of the technology company's stock valued at $138,954,000 after purchasing an additional 878,444 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Jabil by 16,190.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 552,740 shares of the technology company's stock worth $79,539,000 after buying an additional 549,347 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Jabil by 17,410.3% during the 1st quarter. GAMMA Investing LLC now owns 524,958 shares of the technology company's stock worth $71,431,000 after buying an additional 521,960 shares in the last quarter. Hedge funds and other institutional investors own 93.39% of the company's stock.

Wall Street Analyst Weigh In

JBL has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their target price on Jabil from $188.00 to $215.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Raymond James Financial reiterated a "strong-buy" rating and issued a $230.00 price objective (up previously from $170.00) on shares of Jabil in a research note on Wednesday, June 18th. Barclays boosted their price objective on Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 17th. Bank of America upped their target price on shares of Jabil from $225.00 to $245.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Finally, Argus upgraded shares of Jabil from a "hold" rating to a "buy" rating in a research note on Wednesday, June 18th. 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 stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $213.57.

Insider Buying and Selling at Jabil

In other news, SVP Adam E. Berry sold 4,233 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $200.36, for a total value of $848,123.88. Following the completion of the sale, the senior vice president now directly owns 13,047 shares of the company's stock, valued at approximately $2,614,096.92. This represents a 24.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction on Friday, April 11th. The stock was sold at an average price of $131.56, for a total value of $2,631,200.00. Following the sale, the chairman now directly owns 1,730,192 shares of the company's stock, valued at approximately $227,624,059.52. This represents a 1.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 280,476 shares of company stock worth $52,780,286 over the last 90 days. Corporate insiders own 1.73% of the company's stock.

Jabil Stock Up 1.3%

Shares of NYSE JBL traded up $2.74 during midday trading on Wednesday, hitting $214.69. 1,696,357 shares of the company's stock were exchanged, compared to its average volume of 1,429,496. The firm's fifty day simple moving average is $165.22 and its 200-day simple moving average is $154.11. 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 company has a market cap of $23.05 billion, a PE ratio of 41.69, a P/E/G ratio of 1.48 and a beta of 1.14. Jabil, Inc. has a twelve month low of $95.85 and a twelve month high of $215.92.

Jabil (NYSE:JBL - Get Free Report) last released its quarterly earnings data 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 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 analysts' expectations of $7.03 billion. During the same quarter last year, the company earned $1.89 earnings per share. The firm's revenue for the quarter was up 15.7% on a year-over-year basis. Research analysts predict that Jabil, Inc. will post 8.05 EPS for the current fiscal year.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Thursday, May 15th were given a $0.08 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.15%. Jabil's dividend payout ratio (DPR) is presently 6.21%.

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).