Allstate Corp Grows Stock Position in Jabil, Inc. $JBL

Key Points

• Allstate Corp increased its stake in Jabil, Inc. by 72.3% during the first quarter, holding shares worth approximately $769,000 according to its SEC filing.
• Jabil's stock is currently trading at $209.41, with a market capitalization of $22.47 billion and a recent earnings report showing $2.55 earnings per share, surpassing analysts' expectations.
• The company recently declared a dividend of $0.08 per share, representing a 14.0% yield, with the dividend payable on September 3rd.

Allstate Corp boosted its position in Jabil, Inc. (NYSE:JBL - Free Report) by 72.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,649 shares of the technology company's stock after purchasing an additional 2,371 shares during the quarter. Allstate Corp's holdings in Jabil were worth $769,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. raised its stake in Jabil by 84.8% in the 1st 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 last quarter. Envestnet Asset Management Inc. raised its stake in Jabil by 8.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 242,977 shares of the technology company's stock valued at $33,062,000 after purchasing an additional 18,126 shares during the last quarter. Kingswood Wealth Advisors LLC raised its stake in Jabil by 7.0% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,326 shares of the technology company's stock valued at $453,000 after purchasing an additional 217 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new position in Jabil in the 1st quarter valued at about $214,000. Finally, QRG Capital Management Inc. raised its stake in 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. Institutional investors and hedge funds own 93.39% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity

In related 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 owned 44,833 shares of the company's stock, valued at approximately $10,087,425. This represents a 7.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven A. Raymund sold 13,432 shares of the company's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $223.11, for a total value of $2,996,813.52. Following the completion of the transaction, the director owned 86,396 shares of the company's stock, valued at approximately $19,275,811.56. This represents a 13.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 332,847 shares of company stock worth $66,534,847. Insiders own 1.73% of the company's stock.

Jabil Trading Down 2.5%

JBL traded down $5.24 on Friday, reaching $204.63. 1,645,247 shares of the company's stock were exchanged, compared to its average volume of 1,348,944. The company's 50 day moving average is $218.35 and its 200-day moving average is $175.87. The company has a market cap of $21.96 billion, a price-to-earnings ratio of 39.73, a PEG ratio of 1.47 and a beta of 1.20. Jabil, Inc. has a twelve month low of $99.67 and a twelve month high of $232.84. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.64 and a current ratio of 0.98.

Jabil (NYSE:JBL - Get Free Report) last posted its earnings results 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 firm had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.03 billion. Jabil had a net margin of 2.02% and a return on equity of 60.19%. The company's revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.89 EPS. Jabil has set its FY 2025 guidance at 9.330-9.330 EPS. Q4 2025 guidance at 2.640-3.040 EPS. Equities analysts predict that Jabil, Inc. will post 8.05 earnings per share for the current year.

Jabil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, August 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Friday, August 15th. Jabil's dividend payout ratio is 6.21%.

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).