Invesco Ltd. Has $318.28 Million Stock Holdings in Jabil, Inc. (NYSE:JBL)

Key Points

• Invesco Ltd. has reduced its stake in Jabil, Inc. by 0.6%, now holding approximately 2.18% of the company valued at $318.28 million.
• Jabil reported earnings of $2.55 EPS, exceeding analyst expectations and a revenue of $7.83 billion, a 15.7% increase from the previous year.
• The company also announced a dividend of $0.08 per share, with a yield of 14.0%, to be paid on September 3rd.

Invesco Ltd. lessened its position in Jabil, Inc. (NYSE:JBL - Free Report) by 0.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,339,069 shares of the technology company's stock after selling 15,048 shares during the quarter. Invesco Ltd. owned approximately 2.18% of Jabil worth $318,277,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. raised its position in 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 during the last quarter. Northern Trust Corp raised its position in Jabil by 21.7% in the 4th quarter. Northern Trust Corp now owns 1,278,732 shares of the technology company's stock valued at $184,010,000 after buying an additional 227,954 shares during the last quarter. Bank of New York Mellon Corp raised its position in 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 during the last quarter. Point72 Asset Management L.P. raised its position in Jabil by 1,007.6% in the 4th quarter. Point72 Asset Management L.P. now owns 965,629 shares of the technology company's stock valued at $138,954,000 after buying an additional 878,444 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Jabil by 7.9% in the 1st quarter. Victory Capital Management Inc. now owns 676,472 shares of the technology company's stock valued at $92,048,000 after buying an additional 49,431 shares during the last quarter. Institutional investors and hedge funds own 93.39% of the company's stock.

Jabil Stock Performance

Shares of NYSE JBL opened at $222.45 on Tuesday. 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, Inc. has a 12 month low of $99.67 and a 12 month high of $232.84. The stock has a 50 day moving average of $210.61 and a 200-day moving average of $171.30. The company has a market capitalization of $23.87 billion, a P/E ratio of 43.19, a P/E/G ratio of 1.57 and a beta of 1.20.

Jabil (NYSE:JBL - Get Free Report) last issued its earnings results on Tuesday, June 17th. The technology company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.28 by $0.27. The company 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 revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.89 EPS. As a group, equities research analysts predict that Jabil, Inc. will post 8.05 EPS for the current year.

Jabil Dividend Announcement

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

Insider Transactions at Jabil

In other Jabil news, EVP Andrew Priestley sold 13,913 shares of the company's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $203.17, for a total value of $2,826,704.21. Following the transaction, the executive vice president directly owned 53,528 shares of the company's stock, valued at $10,875,283.76. This represents a 20.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Steven A. Raymund sold 15,955 shares of the company's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $216.83, for a total value of $3,459,522.65. Following the completion of the transaction, the director directly owned 99,828 shares in the company, valued at approximately $21,645,705.24. This represents a 13.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 342,847 shares of company stock worth $68,233,847. 1.73% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wall Street Zen lowered Jabil from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Barclays boosted their price target on Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 17th. The Goldman Sachs Group boosted their price target on Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Argus raised Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday, June 18th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $230.00 price target (up previously from $170.00) on shares of Jabil in a research report on Wednesday, June 18th. One research 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 company. According to MarketBeat, the company has an average rating of "Buy" and an average target price 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).

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