LPL Financial LLC Buys 5,130 Shares of Jabil, Inc. (NYSE:JBL)

Key Points

• LPL Financial LLC increased its holdings in Jabil, Inc. by 12.6%, owning 45,878 shares valued at approximately $6.24 million.
• Wall Street analysts have raised their target prices for Jabil, with recommendations ranging from "hold" to "strong buy," and the average price target now stands at $231.71.
• Jabil has recently announced a dividend of $0.08 per share, set to be paid on September 3rd, reflecting a dividend yield of 14.0%.

LPL Financial LLC boosted its holdings in Jabil, Inc. (NYSE:JBL - Free Report) by 12.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,878 shares of the technology company's stock after buying an additional 5,130 shares during the period. LPL Financial LLC's holdings in Jabil were worth $6,243,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Northern Trust Corp increased its position in shares of Jabil by 21.7% during the fourth quarter. Northern Trust Corp now owns 1,278,732 shares of the technology company's stock valued at $184,010,000 after purchasing an additional 227,954 shares during the period. Bank of New York Mellon Corp increased its position in shares of Jabil by 3.4% during the first quarter. Bank of New York Mellon Corp now owns 1,118,282 shares of the technology company's stock valued at $152,165,000 after purchasing an additional 37,201 shares during the period. Point72 Asset Management L.P. increased its position in shares of Jabil by 1,007.6% during the fourth quarter. Point72 Asset Management L.P. now owns 965,629 shares of the technology company's stock valued at $138,954,000 after purchasing an additional 878,444 shares during the period. Victory Capital Management Inc. grew its position in Jabil by 7.9% in the first quarter. Victory Capital Management Inc. now owns 676,472 shares of the technology company's stock valued at $92,048,000 after acquiring an additional 49,431 shares during the period. Finally, Deutsche Bank AG grew its position in Jabil by 20.6% in the fourth quarter. Deutsche Bank AG now owns 559,437 shares of the technology company's stock valued at $80,503,000 after acquiring an additional 95,646 shares during the period. 93.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Stifel Nicolaus assumed coverage on Jabil in a research report on Wednesday, July 2nd. They issued a "buy" rating and a $245.00 price target on the stock. Wall Street Zen cut Jabil from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Raymond James Financial reiterated a "strong-buy" rating and issued a $230.00 price target (up from $170.00) on shares of Jabil in a research report on Wednesday, June 18th. The Goldman Sachs Group upped their price target on Jabil from $188.00 to $215.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Finally, Argus upgraded Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday, June 18th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $231.71.

Jabil Trading Down 4.8%

NYSE:JBL traded down $11.13 during mid-day trading on Wednesday, hitting $219.18. The company had a trading volume of 1,842,997 shares, compared to its average volume of 1,234,701. Jabil, Inc. has a fifty-two week low of $99.67 and a fifty-two week high of $232.84. The business's fifty day moving average is $212.70 and its two-hundred day moving average is $172.03. 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 firm has a market cap of $23.52 billion, a P/E ratio of 42.56, a P/E/G ratio of 1.61 and a beta of 1.20.

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

Jabil Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Wednesday, September 3rd. Investors of record on Monday, August 18th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, August 15th. This represents a dividend yield of 14.0%. Jabil's dividend payout ratio (DPR) is presently 6.21%.

Insider Buying and Selling at Jabil

In related news, Chairman Mark T. Mondello sold 150,000 shares of Jabil stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $193.33, for a total transaction of $28,999,500.00. Following the completion of the sale, the chairman directly owned 1,560,192 shares of the company's stock, valued at approximately $301,631,919.36. This trade represents a 8.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Steven D. Borges sold 22,443 shares of Jabil stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $200.01, for a total value of $4,488,824.43. Following the completion of the transaction, the executive vice president directly owned 102,803 shares of the company's stock, valued at $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 sold 332,847 shares of company stock valued at $66,534,847 in the last 90 days. 1.73% of the stock is currently owned by corporate insiders.

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).