Harvest Fund Management Co. Ltd Buys 2,304 Shares of Jabil, Inc. (NYSE:JBL)

Harvest Fund Management Co. Ltd boosted its holdings in Jabil, Inc. (NYSE:JBL - Free Report) by 50.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,834 shares of the technology company's stock after purchasing an additional 2,304 shares during the period. Harvest Fund Management Co. Ltd's holdings in Jabil were worth $930,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. raised its position in shares of Jabil by 84.8% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 13,568 shares of the technology company's stock worth $1,846,000 after purchasing an additional 6,225 shares during the period. Envestnet Asset Management Inc. increased its position 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 acquiring an additional 18,126 shares during the period. Kingswood Wealth Advisors LLC increased its position in shares of Jabil by 7.0% during 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 period. OneDigital Investment Advisors LLC acquired a new position in shares of Jabil during the 1st quarter valued at $214,000. Finally, QRG Capital Management Inc. increased its position in shares of Jabil by 2.3% during 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 period. Hedge funds and other institutional investors own 93.39% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on JBL shares. UBS Group raised their price objective on Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. JPMorgan Chase & Co. raised their price objective on Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Argus raised Jabil from a "hold" rating to a "buy" rating in a research note on Wednesday, June 18th. Barclays raised their price objective on Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. Finally, Stifel Nicolaus started coverage on Jabil in a research note on Wednesday, July 2nd. They set a "buy" rating and a $245.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $231.71.

Jabil Stock Down 2.0%

NYSE JBL traded down $4.55 during trading on Friday, hitting $218.62. 1,370,849 shares of the company traded hands, compared to its average volume of 1,423,938. Jabil, Inc. has a 12 month low of $95.85 and a 12 month high of $232.84. The business has a fifty day simple moving average of $203.08 and a 200 day simple moving average of $168.48. The company has a current ratio of 0.98, a quick ratio of 0.64 and a debt-to-equity ratio of 1.85. The company has a market capitalization of $23.46 billion, a P/E ratio of 42.45, a PEG ratio of 1.58 and a beta of 1.20.

Jabil (NYSE:JBL - Get Free Report) last posted its earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.27. The company had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.03 billion. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The business's revenue was up 15.7% compared to the same quarter last year. During the same period last year, the company earned $1.89 earnings per share. As a group, sell-side analysts predict that Jabil, Inc. will post 8.05 EPS for the current year.

Insider Buying and Selling at Jabil

In related news, EVP Frederic E. Mccoy sold 4,500 shares of Jabil stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $223.55, for a total transaction of $1,005,975.00. Following the sale, the executive vice president directly owned 124,203 shares of the company's stock, valued at $27,765,580.65. This trade represents a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anousheh Ansari sold 1,000 shares of Jabil stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $222.75, for a total value of $222,750.00. Following the sale, the director directly owned 36,400 shares in the company, valued at $8,108,100. The trade was a 2.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 322,847 shares of company stock valued at $63,849,847 over the last quarter. Company 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).