Jabil, Inc. (NYSE:JBL) Shares Bought by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Jabil, Inc. by 6.1%, owning 34,653 shares worth approximately $4.7 million.
• Insiders have sold over 332,847 shares of Jabil stock in the last 90 days, representing significant insider activity.
• Jabil's latest quarterly earnings report showed earnings per share of $2.55—exceeding expectations and marking a 15.7% revenue increase year-over-year.

Resona Asset Management Co. Ltd. lifted its holdings in Jabil, Inc. (NYSE:JBL - Free Report) by 6.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,653 shares of the technology company's stock after purchasing an additional 1,986 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Jabil were worth $4,715,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in JBL. Townsquare Capital LLC grew its stake in shares of Jabil by 4.1% in the 4th quarter. Townsquare Capital LLC now owns 5,204 shares of the technology company's stock worth $749,000 after purchasing an additional 207 shares during the last quarter. Mariner LLC boosted its holdings in shares of Jabil by 15.8% in the fourth quarter. Mariner LLC now owns 17,084 shares of the technology company's stock worth $2,458,000 after buying an additional 2,327 shares during the period. CreativeOne Wealth LLC boosted its holdings in shares of Jabil by 26.2% in the fourth quarter. CreativeOne Wealth LLC now owns 5,007 shares of the technology company's stock worth $721,000 after buying an additional 1,038 shares during the period. Guggenheim Capital LLC boosted its holdings in shares of Jabil by 45.0% in the fourth quarter. Guggenheim Capital LLC now owns 20,716 shares of the technology company's stock worth $2,981,000 after buying an additional 6,432 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of Jabil by 234.0% in the fourth quarter. NewEdge Advisors LLC now owns 12,254 shares of the technology company's stock worth $1,763,000 after buying an additional 8,585 shares during the period. Institutional investors and hedge funds own 93.39% of the company's stock.

Insider Activity

In related news, CEO Michael Dastoor sold 18,234 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $191.66, for a total transaction of $3,494,728.44. Following the transaction, the chief executive officer owned 203,459 shares of the company's stock, valued at approximately $38,994,951.94. This trade represents a 8.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven D. Borges sold 22,443 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $200.01, for a total transaction of $4,488,824.43. Following the transaction, the executive vice president directly owned 102,803 shares in the company, valued at approximately $20,561,628.03. The trade was a 17.92% 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 valued at $66,534,847. 1.73% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on JBL. Wall Street Zen cut shares of Jabil from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Stifel Nicolaus began coverage on shares of Jabil in a report on Wednesday, July 2nd. They issued a "buy" rating and a $245.00 target price for the company. Bank of America raised their target price on shares of Jabil from $225.00 to $245.00 and gave the stock a "buy" rating in a report on Friday, June 20th. Barclays raised their price target on shares of Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a report on Tuesday, June 17th. Finally, Raymond James Financial restated a "strong-buy" rating and set a $230.00 price target (up from $170.00) on shares of Jabil in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Jabil currently has an average rating of "Buy" and an average price target of $231.71.

Jabil Stock Performance

JBL stock opened at $215.31 on Friday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.64 and a current ratio of 0.98. The stock has a market cap of $23.11 billion, a P/E ratio of 41.81, a P/E/G ratio of 1.52 and a beta of 1.20. The firm has a 50 day simple moving average of $214.36 and a 200 day simple moving average of $172.81. Jabil, Inc. has a 52 week low of $99.67 and a 52 week high of $232.84.

Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.03 billion. Jabil had a net margin of 2.02% and a return on equity of 60.19%. The company's revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.89 earnings per share. Research analysts anticipate that Jabil, Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, September 3rd. Investors of record on Monday, August 18th will be given a dividend of $0.08 per share. This represents a yield of 14.0%. The ex-dividend date of this dividend is Friday, August 15th. Jabil's dividend payout ratio (DPR) is presently 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).

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