Invst LLC Takes Position in Jabil, Inc. $JBL

Key Points

• Invst LLC made a new investment in Jabil, acquiring 4,632 shares valued at approximately $630,000 in the first quarter.
• Jabil reported$2.55, exceeding estimates and a 15.7% year-over-year revenue growth.
• The stock has received several positive analyst ratings, with JPMorgan and Raymond James increasing their price targets significantly, reflecting a generally optimistic outlook for Jabil.

Invst LLC bought a new stake in shares of Jabil, Inc. (NYSE:JBL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,632 shares of the technology company's stock, valued at approximately $630,000.

Several other hedge funds and other institutional investors have also bought and sold shares of JBL. Wellington Management Group LLP boosted its position in Jabil by 12.9% in the first quarter. Wellington Management Group LLP now owns 6,556,153 shares of the technology company's stock worth $892,096,000 after purchasing an additional 747,423 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Jabil by 119.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,215,678 shares of the technology company's stock worth $165,417,000 after purchasing an additional 662,938 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in Jabil in the first quarter worth $81,378,000. GAMMA Investing LLC boosted its position in Jabil by 17,410.3% in the first quarter. GAMMA Investing LLC now owns 524,958 shares of the technology company's stock worth $71,431,000 after purchasing an additional 521,960 shares during the last quarter. Finally, Wedge Capital Management L L P NC purchased a new position in Jabil in the first quarter worth $51,257,000. Hedge funds and other institutional investors own 93.39% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on JBL. Argus raised Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday, June 18th. JPMorgan Chase & Co. upped their price target on Jabil from $214.00 to $256.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Barclays upped their price target on Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a research report on Tuesday, June 17th. Bank of America upped their price target on Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, June 20th. Finally, UBS Group upped their price target on Jabil from $157.00 to $208.00 and gave the company a "neutral" rating in a research report on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $231.71.

Jabil Price Performance

JBL traded down $2.71 during trading on Tuesday, reaching $213.35. 1,306,424 shares of the company were exchanged, compared to its average volume of 1,402,766. The company's 50-day moving average is $216.50 and its two-hundred day moving average is $179.58. The company has a market cap of $22.90 billion, a price-to-earnings ratio of 41.43, a P/E/G ratio of 1.25 and a beta of 1.25. The company has a quick ratio of 0.64, a current ratio of 0.98 and a debt-to-equity ratio of 1.85. Jabil, Inc. has a 12-month low of $106.05 and a 12-month high of $232.84.

Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings data on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.28 by $0.27. The business had revenue of $7.83 billion for the quarter, compared to analysts' expectations 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 quarter in the prior year, the firm posted $1.89 EPS. Research analysts forecast that Jabil, Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Friday, August 15th. Jabil's dividend payout ratio is currently 6.21%.

Insiders Place Their Bets

In other Jabil news, Director Steven A. Raymund sold 15,955 shares of the company's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $216.83, for a total value of $3,459,522.65. Following the transaction, the director directly owned 99,828 shares in the company, valued at $21,645,705.24. This represents a 13.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark T. Mondello sold 20,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $216.59, for a total value of $4,331,800.00. Following the completion of the transaction, the chairman owned 1,440,190 shares in the company, valued at $311,930,752.10. This represents a 1.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 164,613 shares of company stock worth $34,706,019. 1.73% of the stock is owned by corporate insiders.

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).