Rafferty Asset Management LLC Sells 9,151 Shares of Jabil, Inc. $JBL

Key Points

• Rafferty Asset Management LLC reduced its holdings in Jabil, Inc. by 22.8% in Q1, now owning 31,005 shares worth approximately $4.22 million.
• Insider trading activity included Chairman Mark T. Mondello selling 150,000 shares valued at about $29 million, representing an 8.77% decrease in his holdings.
• Jabil's Q2 earnings exceeded estimates, reporting $2.55 EPS against a forecast of $2.28, with revenues rising by 15.7% year-over-year to $7.83 billion.

Rafferty Asset Management LLC lowered its stake in Jabil, Inc. (NYSE:JBL - Free Report) by 22.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 31,005 shares of the technology company's stock after selling 9,151 shares during the quarter. Rafferty Asset Management LLC's holdings in Jabil were worth $4,219,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV purchased a new position in shares of Jabil during the first quarter valued at approximately $27,000. Harbor Capital Advisors Inc. increased its stake in shares of Jabil by 110.5% during the first quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock valued at $30,000 after buying an additional 116 shares during the period. Groupe la Francaise increased its stake in shares of Jabil by 35.2% during the first quarter. Groupe la Francaise now owns 246 shares of the technology company's stock valued at $34,000 after buying an additional 64 shares during the period. Golden State Wealth Management LLC increased its stake in shares of Jabil by 2,400.0% during the first quarter. Golden State Wealth Management LLC now owns 275 shares of the technology company's stock valued at $37,000 after buying an additional 264 shares during the period. Finally, Wayfinding Financial LLC purchased a new position in shares of Jabil during the first quarter valued at approximately $52,000. Institutional investors own 93.39% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Bank of America boosted their target price on Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Zacks Research cut Jabil from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $230.00 price target (up from $170.00) on shares of Jabil in a research note on Wednesday, June 18th. The Goldman Sachs Group upped their price target on Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Finally, JPMorgan Chase & Co. upped their price target on Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $231.71.

Jabil Stock Down 2.5%

Shares of NYSE JBL traded down $5.24 during trading on Friday, reaching $204.63. The company had a trading volume of 1,645,247 shares, compared to its average volume of 1,362,662. Jabil, Inc. has a 12-month low of $99.67 and a 12-month high of $232.84. The stock has a market cap of $21.96 billion, a PE ratio of 39.73, a P/E/G ratio of 1.43 and a beta of 1.25. The business's 50-day moving average is $218.35 and its 200 day moving average is $175.97. 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 (NYSE:JBL - Get Free Report) last released its earnings results on Tuesday, June 17th. The technology company reported $2.55 EPS for the quarter, topping analysts' consensus estimates of $2.28 by $0.27. Jabil had a return on equity of 60.19% and a net margin of 2.02%.The firm had revenue of $7.83 billion for the quarter, compared to analysts' expectations of $7.03 billion. During the same period in the prior year, the firm posted $1.89 earnings per share. The company's quarterly revenue was up 15.7% on a year-over-year basis. Jabil has set its FY 2025 guidance at 9.330-9.330 EPS. Q4 2025 guidance at 2.640-3.040 EPS. As a group, equities analysts forecast that Jabil, Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Dividend Announcement

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

Insider Transactions at Jabil

In other news, Director Steven A. Raymund sold 13,432 shares of the stock in a transaction 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 sale, the director directly owned 86,396 shares of the company's stock, valued at approximately $19,275,811.56. This represents a 13.46% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 on Friday, August 1st. The shares were sold at an average price of $219.20, for a total value of $4,384,000.00. Following the transaction, the chairman directly owned 1,420,190 shares in the company, valued at approximately $311,305,648. The trade was a 1.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 332,847 shares of company stock valued at $66,534,847. 1.73% of the stock is currently owned by corporate 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).