Wright Investors Service Inc. Has $1.50 Million Stock Holdings in Jabil, Inc. $JBL

Key Points

• Wright Investors Service Inc. increased its holdings in Jabil, Inc. by 126.4% during the second quarter, now owning 6,897 shares worth approximately $1.5 million.
• Insiders, including EVP Frederic E. Mccoy and Director Anousheh Ansari, have recently sold shares of Jabil, totaling 102,371 shares valued at over $22 million in the past three months.
• Jabil's latest earnings report showed a notable increase in revenue and earnings per share, beating analysts' expectations, indicating strong financial performance.

Wright Investors Service Inc. increased its position in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 126.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,897 shares of the technology company's stock after purchasing an additional 3,851 shares during the period. Wright Investors Service Inc.'s holdings in Jabil were worth $1,504,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in Jabil by 12.9% during the 1st 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. JPMorgan Chase & Co. lifted its holdings in Jabil by 15.7% during the 1st quarter. JPMorgan Chase & Co. now owns 2,173,095 shares of the technology company's stock worth $295,693,000 after purchasing an additional 295,496 shares during the last quarter. Northern Trust Corp lifted its holdings in Jabil by 8.3% during the 1st quarter. Northern Trust Corp now owns 1,384,364 shares of the technology company's stock worth $188,370,000 after purchasing an additional 105,632 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Jabil by 119.9% during the 1st 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. Finally, Bank of New York Mellon Corp lifted its holdings in Jabil by 3.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,118,282 shares of the technology company's stock worth $152,165,000 after purchasing an additional 37,201 shares during the last quarter. 93.39% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Jabil

In other Jabil news, EVP Frederic E. Mccoy sold 4,500 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $223.55, for a total value of $1,005,975.00. Following the sale, the executive vice president owned 124,203 shares in the company, valued at approximately $27,765,580.65. The trade was a 3.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Mark T. Mondello sold 20,000 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $200.02, for a total value of $4,000,400.00. Following the completion of the sale, the chairman owned 1,400,190 shares in the company, valued at $280,066,003.80. This trade represents a 1.41% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,371 shares of company stock worth $22,085,161. 1.73% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Stifel Nicolaus initiated coverage on Jabil in a report on Wednesday, July 2nd. They set a "buy" rating and a $245.00 price target for the company. Bank of America lifted their price objective on Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a report on Friday, June 20th. Zacks Research cut Jabil from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. JPMorgan Chase & Co. lifted their price objective on Jabil from $214.00 to $256.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Finally, Argus raised Jabil from a "hold" rating to a "buy" rating in a report on Wednesday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $231.71.

Jabil Price Performance

JBL stock traded up $0.82 during midday trading on Tuesday, reaching $234.05. 1,115,042 shares of the stock were exchanged, compared to its average volume of 1,420,556. The stock has a market capitalization of $25.12 billion, a PE ratio of 45.45, 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 $237.14. 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 company has a fifty day moving average price of $216.51 and a 200 day moving average price of $182.36.

Jabil Dividend Announcement

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

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).