Forsta AP Fonden Decreases Stock Position in Jabil, Inc. (NYSE:JBL)

Key Points

• Forsta AP Fonden reduced its stake in Jabil, Inc. by 6.6%, owning 62,181 shares worth approximately $8.46 million as of the end of the first quarter.
• Insider selling has been notable, with Jabil's Director selling 15,955 shares for about $3.46 million and an EVP selling 22,443 shares for approximately $4.49 million in recent transactions.
• Jabil reported strong quarterly earnings, with $2.55 earnings per share exceeding expectations, and a revenue of $7.83 billion, marking a 15.7% increase year-over-year.

Forsta AP Fonden reduced its holdings in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 6.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,181 shares of the technology company's stock after selling 4,400 shares during the period. Forsta AP Fonden owned 0.06% of Jabil worth $8,461,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Creative Financial Designs Inc. ADV purchased a new position in Jabil in the 1st quarter valued at approximately $27,000. Harbor Capital Advisors Inc. grew 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 buying an additional 116 shares during the last quarter. Golden State Wealth Management LLC lifted its position in 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 purchasing an additional 264 shares during the period. True Wealth Design LLC raised its position in Jabil by 3,411.1% in the fourth quarter. True Wealth Design LLC now owns 316 shares of the technology company's stock worth $45,000 after acquiring an additional 307 shares during the period. Finally, Wayfinding Financial LLC purchased a new stake in shares of Jabil in the first quarter worth $52,000. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Jabil

In other news, Chairman Mark T. Mondello sold 150,000 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $193.33, for a total value of $28,999,500.00. Following the completion of the sale, the chairman owned 1,560,192 shares of the company's stock, valued at approximately $301,631,919.36. This represents a 8.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Steven D. Borges sold 22,443 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $200.01, for a total value of $4,488,824.43. Following the sale, the executive vice president owned 102,803 shares in the company, valued at approximately $20,561,628.03. The trade was a 17.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 342,847 shares of company stock worth $68,233,847 in the last three months. Insiders own 1.73% of the company's stock.

Jabil Stock Up 3.4%

Shares of NYSE:JBL traded up $7.59 during trading on Tuesday, hitting $230.26. 1,135,026 shares of the company were exchanged, compared to its average volume of 1,245,772. The stock has a market cap of $24.71 billion, a price-to-earnings ratio of 44.71, a P/E/G ratio of 1.56 and a beta of 1.20. Jabil, Inc. has a fifty-two week low of $99.67 and a fifty-two week high of $232.84. The firm has a fifty day moving average price of $211.75 and a two-hundred day moving average price of $171.71. 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 (NYSE:JBL - Get Free Report) last released its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.27. The business had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.03 billion. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The firm's quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 EPS. As a group, research analysts anticipate that Jabil, Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Announces Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Monday, August 18th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a dividend yield of 14.0%. Jabil's payout ratio is 6.21%.

Analyst Upgrades and Downgrades

JBL has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Raymond James Financial restated a "strong-buy" rating and set a $230.00 price objective (up from $170.00) on shares of Jabil in a research report on Wednesday, June 18th. Stifel Nicolaus assumed coverage on shares of Jabil in a report on Wednesday, July 2nd. They issued a "buy" rating and a $245.00 price objective for the company. UBS Group raised their price objective on shares of Jabil from $157.00 to $208.00 and gave the company a "neutral" rating in a research note on Wednesday, June 18th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $231.71.

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).