GC Wealth Management RIA LLC Makes New $565,000 Investment in Jabil, Inc. $JBL

Key Points

• GC Wealth Management RIA LLC invested $565,000 in Jabil, Inc. by purchasing 2,592 shares in the 2nd quarter.
• Insiders at Jabil have sold significant shares recently, with the EVP selling 4,500 shares valued at over $1 million and a Director selling 13,432 shares worth nearly $3 million, indicating a decrease in their positions.
• Analysts have mixed views on Jabil, with Zacks lowering its rating to "hold" while other firms like Bank of America increased their price target to $255, reflecting diverse market opinions on the stock's future performance.

GC Wealth Management RIA LLC purchased a new position in shares of Jabil, Inc. (NYSE:JBL - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,592 shares of the technology company's stock, valued at approximately $565,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of Jabil by 12.9% in the 1st quarter. Wellington Management Group LLP now owns 6,556,153 shares of the technology company's stock valued at $892,096,000 after buying an additional 747,423 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Jabil by 15.7% in the 1st quarter. JPMorgan Chase & Co. now owns 2,173,095 shares of the technology company's stock valued at $295,693,000 after buying an additional 295,496 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Jabil by 8.3% in the 1st quarter. Northern Trust Corp now owns 1,384,364 shares of the technology company's stock valued at $188,370,000 after buying an additional 105,632 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Jabil by 119.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,215,678 shares of the technology company's stock valued at $165,417,000 after buying an additional 662,938 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Jabil by 3.4% in the 1st quarter. Bank of New York Mellon Corp now owns 1,118,282 shares of the technology company's stock valued at $152,165,000 after buying an additional 37,201 shares in the last quarter. Institutional investors and hedge funds own 93.39% of the company's stock.

Insiders Place Their Bets

In other news, EVP Frederic E. Mccoy sold 4,500 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $223.55, for a total value of $1,005,975.00. Following the completion of the transaction, the executive vice president owned 124,203 shares in the company, valued at $27,765,580.65. This trade represents a 3.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven A. Raymund sold 13,432 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $223.11, for a total transaction of $2,996,813.52. Following the completion of the transaction, the director owned 86,396 shares of the company's stock, valued at $19,275,811.56. This represents a 13.46% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,416 shares of company stock worth $14,293,839. Insiders own 1.73% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Zacks Research cut shares of Jabil from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. UBS Group set a $241.00 target price on shares of Jabil in a report on Sunday. Bank of America upped their target price on shares of Jabil from $245.00 to $255.00 and gave the company a "buy" rating in a report on Friday, September 26th. Barclays increased their price target on shares of Jabil from $223.00 to $267.00 and gave the stock an "overweight" rating in a research note on Friday, September 26th. Finally, JPMorgan Chase & Co. increased their price target on shares of Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $248.43.

Jabil Stock Up 1.4%

Shares of Jabil stock opened at $217.43 on Wednesday. The company has a market cap of $23.33 billion, a P/E ratio of 36.48, a PEG ratio of 1.50 and a beta of 1.25. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.66 and a current ratio of 1.00. Jabil, Inc. has a one year low of $108.66 and a one year high of $237.14. The firm has a fifty day moving average of $216.33 and a two-hundred day moving average of $185.63.

Jabil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Friday, August 15th. Jabil's dividend payout ratio (DPR) is currently 5.37%.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.