Jabil, Inc. (NYSE:JBL) Shares Sold by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management Inc. has reduced its stake in Jabil, Inc. by 76.8%, now holding approximately 9,302 shares worth $1,266,000.
• In the latest earnings report, Jabil reported $2.55 earnings per share, outperforming estimates, and achieving a 15.7% year-over-year revenue growth to $7.83 billion.
• Analysts remain bullish on Jabil, with several firms raising their price targets; Goldman Sachs and Bank of America now have price targets of $215.00 and $245.00, respectively.

iA Global Asset Management Inc. trimmed its stake in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 76.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,302 shares of the technology company's stock after selling 30,818 shares during the quarter. iA Global Asset Management Inc.'s holdings in Jabil were worth $1,266,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of JBL. Point72 Asset Management L.P. grew its stake in Jabil by 1,007.6% during the 4th quarter. Point72 Asset Management L.P. now owns 965,629 shares of the technology company's stock worth $138,954,000 after purchasing an additional 878,444 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Jabil by 16,190.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 552,740 shares of the technology company's stock worth $79,539,000 after purchasing an additional 549,347 shares in the last quarter. GAMMA Investing LLC grew its stake in Jabil by 17,410.3% during the 1st quarter. GAMMA Investing LLC now owns 524,958 shares of the technology company's stock worth $71,431,000 after purchasing an additional 521,960 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in Jabil during the 1st quarter worth $51,257,000. Finally, Simcoe Capital Management LLC acquired a new position in shares of Jabil during the 4th quarter worth about $50,632,000. 93.39% of the stock is owned by institutional investors and hedge funds.

Jabil Stock Up 0.5%

Jabil stock opened at $220.65 on Thursday. Jabil, Inc. has a fifty-two week low of $97.96 and a fifty-two week high of $232.84. 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 company has a market capitalization of $23.68 billion, a P/E ratio of 42.84, a PEG ratio of 1.53 and a beta of 1.20. The stock has a 50-day simple moving average of $207.35 and a 200-day simple moving average of $170.15.

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. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The business had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.03 billion. During the same period in the previous year, the business earned $1.89 EPS. The business's quarterly revenue was up 15.7% on a year-over-year basis. Equities research analysts expect that Jabil, Inc. will post 8.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on JBL shares. The Goldman Sachs Group upped their price objective on Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Bank of America upped their price objective on Jabil from $225.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Stifel Nicolaus started coverage on Jabil in a research report on Wednesday, July 2nd. They set a "buy" rating and a $245.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Finally, Wall Street Zen cut Jabil from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. One equities 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $231.71.

Insider Activity

In other Jabil news, Director Steven A. Raymund sold 13,432 shares of the company's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $223.11, for a total transaction of $2,996,813.52. Following the completion of the sale, the director directly owned 86,396 shares of the company's stock, valued at $19,275,811.56. This represents a 13.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew Priestley sold 3,702 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $225.00, for a total value of $832,950.00. Following the sale, the executive vice president directly owned 44,833 shares of the company's stock, valued at approximately $10,087,425. This represents a 7.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 342,847 shares of company stock worth $68,233,847 over the last quarter. 1.73% of the stock is owned by insiders.

Jabil Company 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).

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