Jabil, Inc. (NYSE:JBL) Stake Raised by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its holdings in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 8.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,977 shares of the technology company's stock after purchasing an additional 18,126 shares during the period. Envestnet Asset Management Inc. owned about 0.23% of Jabil worth $33,062,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of JBL. MassMutual Private Wealth & Trust FSB raised its stake in shares of Jabil by 21.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 565 shares of the technology company's stock valued at $77,000 after purchasing an additional 99 shares in the last quarter. Utah Retirement Systems raised its stake in Jabil by 0.5% during the fourth quarter. Utah Retirement Systems now owns 18,382 shares of the technology company's stock valued at $2,645,000 after buying an additional 100 shares in the last quarter. Atlas Capital Advisors Inc. lifted its holdings in Jabil by 1.0% during the 4th quarter. Atlas Capital Advisors Inc. now owns 10,463 shares of the technology company's stock worth $1,506,000 after buying an additional 105 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Jabil by 110.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock worth $30,000 after buying an additional 116 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its position in shares of Jabil by 0.9% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 14,075 shares of the technology company's stock worth $2,054,000 after acquiring an additional 119 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Jabil

In other Jabil news, CEO Michael Dastoor sold 18,234 shares of the business's stock in a transaction dated 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 sale, the chief executive officer directly owned 203,459 shares in the company, valued at approximately $38,994,951.94. The trade was a 8.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steven D. Borges sold 22,443 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $200.01, for a total transaction of $4,488,824.43. Following the completion of the sale, the executive vice president directly owned 102,803 shares of the company's stock, valued at approximately $20,561,628.03. This represents a 17.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 297,431 shares of company stock worth $58,163,159 over the last ninety days. Insiders own 1.73% of the company's stock.

Jabil Stock Performance

NYSE JBL traded down $1.36 on Monday, hitting $220.66. The stock had a trading volume of 943,133 shares, compared to its average volume of 1,437,748. The company's 50-day moving average is $185.78 and its two-hundred day moving average is $161.53. The stock has a market cap of $23.68 billion, a price-to-earnings ratio of 42.85, a P/E/G ratio of 1.56 and a beta of 1.20. 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, Inc. has a one year low of $95.85 and a one year high of $227.54.

Jabil (NYSE:JBL - Get Free Report) last posted its earnings results on Tuesday, June 17th. The technology company reported $2.55 EPS for the quarter, beating the consensus estimate 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 last year, the firm earned $1.89 EPS. The firm's revenue was up 15.7% compared to the same quarter last year. On average, analysts expect that Jabil, Inc. will post 8.05 earnings per share for the current year.

Jabil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Thursday, May 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.15%. The ex-dividend date was Thursday, May 15th. Jabil's payout ratio is currently 6.21%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on JBL. Argus raised Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday, June 18th. UBS Group raised their price target on shares of Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th. JPMorgan Chase & Co. boosted their price objective on shares of Jabil from $180.00 to $214.00 and gave the company an "overweight" rating in a research report on Wednesday, June 18th. The Goldman Sachs Group increased their price objective on shares of Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Finally, Bank of America lifted 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. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Jabil currently has an average rating of "Buy" and an average price target of $225.71.

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).