Jabil, Inc. (NYSE:JBL) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. trimmed its position in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 14.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,521 shares of the technology company's stock after selling 2,848 shares during the period. Hennessy Advisors Inc.'s holdings in Jabil were worth $2,384,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of JBL. Truist Financial Corp boosted its position in Jabil by 50.4% in the 4th quarter. Truist Financial Corp now owns 12,037 shares of the technology company's stock valued at $1,732,000 after buying an additional 4,034 shares during the period. Keybank National Association OH acquired a new position in Jabil during the 4th quarter worth approximately $214,000. Harbor Capital Advisors Inc. increased its position in shares of Jabil by 110.5% in the 1st quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock valued at $30,000 after purchasing an additional 116 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Jabil by 4.4% in the 4th quarter. Principal Financial Group Inc. now owns 143,266 shares of the technology company's stock valued at $20,616,000 after purchasing an additional 5,993 shares in the last quarter. Finally, LPL Financial LLC lifted its position in shares of Jabil by 23.5% during the 4th quarter. LPL Financial LLC now owns 40,748 shares of the technology company's stock worth $5,864,000 after purchasing an additional 7,747 shares during the last quarter. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JBL has been the subject of a number of recent research reports. Argus upgraded shares of Jabil from a "hold" rating to a "buy" rating in a research note on Wednesday. UBS Group boosted their target price on Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research report on Wednesday. Barclays raised their price objective on shares of Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a research note on Tuesday. Wall Street Zen upgraded shares of Jabil from a "hold" rating to a "buy" rating in a report on Monday, May 19th. Finally, The Goldman Sachs Group increased their target price on Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a research report on Wednesday. One equities research 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. Based on data from MarketBeat, Jabil presently has a consensus rating of "Buy" and an average price target of $200.00.

Jabil Stock Up 3.8%

Shares of NYSE:JBL traded up $7.54 during midday trading on Thursday, hitting $204.43. 3,556,070 shares of the company's stock traded hands, compared to its average volume of 1,457,522. The firm's fifty day moving average price is $159.27 and its two-hundred day moving average price is $152.00. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.66 and a current ratio of 0.98. Jabil, Inc. has a twelve month low of $95.85 and a twelve month high of $207.10. The company has a market cap of $21.94 billion, a PE ratio of 39.69, a P/E/G ratio of 1.90 and a beta of 1.14.

Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings data on Tuesday, June 17th. The technology company reported $2.55 EPS for the quarter, topping analysts' consensus estimates of $2.28 by $0.27. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The company had revenue of $7.83 billion for the quarter, compared to analysts' expectations of $7.03 billion. During the same quarter in the previous year, the firm posted $1.89 earnings per share. The firm's quarterly revenue was up 15.7% on a year-over-year basis. On average, equities research analysts anticipate that Jabil, Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend was Thursday, May 15th. Jabil's dividend payout ratio (DPR) is 6.21%.

Insider Activity at Jabil

In other news, CEO Michael Dastoor sold 10,000 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $169.90, for a total transaction of $1,699,000.00. Following the completion of the sale, the chief executive officer now directly owns 221,693 shares in the company, valued at $37,665,640.70. This trade represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark T. Mondello sold 20,000 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $166.75, for a total value of $3,335,000.00. Following the completion of the transaction, the chairman now owns 1,710,192 shares in the company, valued at approximately $285,174,516. This trade represents a 1.16% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 50,000 shares of company stock valued at $7,665,200. Corporate 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).