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

IFP Advisors Inc reduced its stake in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 19.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,673 shares of the technology company's stock after selling 1,343 shares during the period. IFP Advisors Inc's holdings in Jabil were worth $772,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. grew its position in shares of Jabil by 84.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 13,568 shares of the technology company's stock valued at $1,846,000 after purchasing an additional 6,225 shares during the period. Envestnet Asset Management Inc. increased its stake in Jabil by 8.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 242,977 shares of the technology company's stock worth $33,062,000 after buying an additional 18,126 shares during the period. Kingswood Wealth Advisors LLC increased its stake in Jabil by 7.0% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,326 shares of the technology company's stock worth $453,000 after buying an additional 217 shares during the period. OneDigital Investment Advisors LLC purchased a new stake in Jabil during the 1st quarter worth approximately $214,000. Finally, QRG Capital Management Inc. increased its position in shares of Jabil by 2.3% in the 1st quarter. QRG Capital Management Inc. now owns 5,978 shares of the technology company's stock valued at $813,000 after purchasing an additional 132 shares during the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Jabil Price Performance

Shares of JBL traded down $0.87 during trading hours on Monday, reaching $221.69. The company had a trading volume of 180,816 shares, compared to its average volume of 1,420,444. The firm has a 50 day simple moving average of $198.29 and a 200-day simple moving average of $166.67. The company has a current ratio of 0.98, a quick ratio of 0.64 and a debt-to-equity ratio of 1.85. The company has a market capitalization of $23.79 billion, a price-to-earnings ratio of 43.15, a PEG ratio of 1.55 and a beta of 1.20. Jabil, Inc. has a 12-month low of $95.85 and a 12-month high of $229.16.

Jabil (NYSE:JBL - Get Free Report) last posted its earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.27. Jabil had a net margin of 2.02% and a return on equity of 60.19%. The firm had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.03 billion. During the same period last year, the firm posted $1.89 EPS. The firm's revenue for the quarter was up 15.7% on a year-over-year basis. Research analysts expect that Jabil, Inc. will post 8.05 earnings per share for the current year.

Insider Activity at Jabil

In related news, Chairman Mark T. Mondello sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $216.59, for a total value of $4,331,800.00. Following the sale, the chairman directly owned 1,440,190 shares of the company's stock, valued at approximately $311,930,752.10. This trade represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew Priestley sold 3,702 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $225.00, for a total transaction of $832,950.00. Following the completion of the sale, the executive vice president directly owned 44,833 shares in the company, valued at $10,087,425. This represents a 7.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 322,847 shares of company stock worth $63,849,847 over the last three months. Company insiders own 1.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on JBL. UBS Group increased their price objective on shares of Jabil from $157.00 to $208.00 and gave the company a "neutral" rating in a research report on Wednesday, June 18th. Stifel Nicolaus started coverage on shares of Jabil in a report on Wednesday, July 2nd. They issued a "buy" rating and a $245.00 target price for the company. Bank of America increased their price target 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. Barclays increased their price target on shares of Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. Finally, Argus upgraded shares of Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus 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).