Jabil, Inc. (NYSE:JBL) Shares Sold by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Jabil, Inc. by 26.4% to approximately $1.21 million, now holding 8,903 shares after selling 3,187 shares in Q1.
• Jabil reported a quarterly earnings per share of $2.55, surpassing the consensus estimate by $0.27, with revenues of $7.83 billion for the quarter.
• Several institutional investors increased their holdings, with Robeco Institutional Asset Management B.V. growing its position by 84.8% in the same quarter.

J. Safra Sarasin Holding AG lessened its position in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 26.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,903 shares of the technology company's stock after selling 3,187 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Jabil were worth $1,211,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. LPL Financial LLC raised its position in Jabil by 23.5% during the fourth quarter. LPL Financial LLC now owns 40,748 shares of the technology company's stock valued at $5,864,000 after purchasing an additional 7,747 shares during the period. Orion Portfolio Solutions LLC raised its position in Jabil by 144.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 4,698 shares of the technology company's stock valued at $676,000 after purchasing an additional 2,773 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Jabil during the fourth quarter valued at approximately $2,074,000. Schroder Investment Management Group raised its position in Jabil by 32.4% during the fourth quarter. Schroder Investment Management Group now owns 2,780 shares of the technology company's stock valued at $400,000 after purchasing an additional 681 shares during the period. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Jabil by 12.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,169 shares of the technology company's stock worth $334,000 after buying an additional 240 shares during the period. Institutional investors own 93.39% of the company's stock.

Jabil Stock Performance

JBL traded down $2.62 on Tuesday, reaching $219.67. 893,772 shares of the stock were exchanged, compared to its average volume of 1,263,084. The company's 50-day moving average price is $205.28 and its 200 day moving average price is $169.45. Jabil, Inc. has a fifty-two week low of $97.95 and a fifty-two week high of $232.84. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.98 and a quick ratio of 0.64. The firm has a market capitalization of $23.57 billion, a PE ratio of 42.65, a PEG ratio of 1.55 and a beta of 1.20.

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, beating the consensus estimate of $2.28 by $0.27. The business had revenue of $7.83 billion during 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 company's revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.89 EPS. As a group, sell-side analysts forecast that Jabil, Inc. will post 8.05 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on JBL. Barclays increased their price target on Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a report on Tuesday, June 17th. Wall Street Zen downgraded Jabil from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Raymond James Financial reiterated a "strong-buy" rating and issued a $230.00 price target (up from $170.00) on shares of Jabil in a report on Wednesday, June 18th. Stifel Nicolaus assumed coverage on Jabil in a report on Wednesday, July 2nd. They set a "buy" rating and a $245.00 price objective on the stock. Finally, UBS Group lifted their price target on Jabil from $157.00 to $208.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $231.71.

Insiders Place Their Bets

In related news, Director Steven A. Raymund sold 15,955 shares of Jabil 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 completion of the transaction, the director owned 99,828 shares in the company, valued at $21,645,705.24. The trade was a 13.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Dastoor sold 18,234 shares of Jabil stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $191.66, for a total value of $3,494,728.44. Following the completion of the transaction, the chief executive officer owned 203,459 shares of the company's stock, valued at approximately $38,994,951.94. This represents a 8.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 322,847 shares of company stock worth $63,849,847. 1.73% of the stock is currently owned by company insiders.

Jabil 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).