Voya Investment Management LLC Purchases 32,070 Shares of Jabil, Inc. $JBL

Key Points

• Voya Investment Management LLC increased its stake in Jabil, Inc. by 29.1%, now owning approximately 0.13% of the company worth $19.3 million.
• Jabil's quarterly earnings topped estimates with an EPS of $2.55, exceeding consensus expectations by $0.27.
• Insider trading activity included significant sales by executives, including EVP Steven D. Borges and CEO Michael Dastoor, with a total of 332,847 shares sold over the last ninety days.

Voya Investment Management LLC lifted its stake in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 29.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 142,173 shares of the technology company's stock after acquiring an additional 32,070 shares during the period. Voya Investment Management LLC owned 0.13% of Jabil worth $19,345,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of JBL. Focus Partners Wealth acquired a new position in shares of Jabil during the 4th quarter valued at $595,000. Janus Henderson Group PLC grew its stake in shares of Jabil by 13.8% in the 4th quarter. Janus Henderson Group PLC now owns 11,001 shares of the technology company's stock worth $1,583,000 after acquiring an additional 1,334 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC bought a new stake in shares of Jabil in the 4th quarter worth $211,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Jabil by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,718 shares of the technology company's stock valued at $1,542,000 after buying an additional 425 shares during the period. Finally, NorthRock Partners LLC purchased a new stake in Jabil during the fourth quarter valued at about $305,000. Institutional investors and hedge funds own 93.39% of the company's stock.

Jabil Stock Performance

Jabil stock traded up $0.83 during midday trading on Friday, hitting $224.12. The stock had a trading volume of 2,883,233 shares, compared to its average volume of 1,283,373. The firm's fifty day moving average is $216.26 and its two-hundred day moving average is $181.14. The company has a market capitalization of $24.05 billion, a PE ratio of 43.52, a P/E/G ratio of 1.32 and a beta of 1.25. Jabil, Inc. has a 52-week low of $108.66 and a 52-week high of $232.84. 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 (NYSE:JBL - Get Free Report) last released its earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, topping 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 company had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.03 billion. During the same period in the prior year, the firm posted $1.89 EPS. The firm's quarterly revenue was up 15.7% compared to the same quarter last year. On average, research analysts forecast that Jabil, Inc. will post 8.05 EPS for the current year.

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Friday, August 15th. Jabil's dividend payout ratio (DPR) is 6.21%.

Analysts Set New Price Targets

JBL has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Jabil from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. The Goldman Sachs Group raised their target price on shares of Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. Stifel Nicolaus initiated coverage on Jabil in a research report on Wednesday, July 2nd. They set a "buy" rating and a $245.00 price objective for the company. Bank of America lifted their price target on Jabil from $225.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Finally, Argus raised Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Jabil has an average rating of "Moderate Buy" and an average target price of $231.71.

Insider Buying and Selling at Jabil

In other Jabil news, EVP Andrew Priestley sold 3,702 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were 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 of the company's stock, valued at $10,087,425. This trade represents a 7.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Mark T. Mondello sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $200.02, for a total transaction of $4,000,400.00. Following the sale, the chairman directly owned 1,400,190 shares of the company's stock, valued at approximately $280,066,003.80. This trade represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 102,371 shares of company stock worth $22,085,161. Insiders own 1.73% of the company's stock.

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).