M.D. Sass LLC Has $35.51 Million Stock Position in Jabil, Inc. (NYSE:JBL)

Key Points

• M.D. Sass LLC reduced its stake in Jabil, Inc. by 37.6% in Q1, holding approximately 260,953 shares valued at $35.51 million.
• Insider selling includes EVP Andrew Priestley selling 3,702 shares and Chairman Mark T. Mondello selling 20,000 shares, indicating a 7.63% and 1.37% decrease in their positions, respectively.
• Jabil reported earnings of $2.55 EPS for the last quarter, exceeding estimates and showing a revenue increase of 15.7% year-over-year.

M.D. Sass LLC lowered its stake in Jabil, Inc. (NYSE:JBL - Free Report) by 37.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 260,953 shares of the technology company's stock after selling 157,027 shares during the period. Jabil accounts for approximately 3.1% of M.D. Sass LLC's holdings, making the stock its 18th biggest holding. M.D. Sass LLC owned 0.24% of Jabil worth $35,508,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of JBL. Bank of Nova Scotia boosted its holdings in shares of Jabil by 63.2% in the 1st quarter. Bank of Nova Scotia now owns 24,610 shares of the technology company's stock valued at $3,349,000 after buying an additional 9,531 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lifted its stake in shares of Jabil by 38.7% in the 1st quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 4,300 shares of the technology company's stock worth $585,000 after acquiring an additional 1,200 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Jabil by 11.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 40,014 shares of the technology company's stock worth $5,445,000 after acquiring an additional 4,069 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of Jabil in the 1st quarter worth approximately $2,505,000. Finally, US Bancorp DE raised its holdings in shares of Jabil by 2.5% in the 1st quarter. US Bancorp DE now owns 16,433 shares of the technology company's stock worth $2,236,000 after purchasing an additional 397 shares in the last quarter. Institutional investors own 93.39% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on JBL. UBS Group boosted their price target on shares of Jabil from $157.00 to $208.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Raymond James Financial restated a "strong-buy" rating and set a $230.00 price target (up previously from $170.00) on shares of Jabil in a report on Wednesday, June 18th. Bank of America upped their price objective on shares of Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Barclays upped their price objective on shares of Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a research note on Tuesday, June 17th. Finally, Stifel Nicolaus initiated coverage on shares of Jabil in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $245.00 price objective on the stock. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $231.71.

Jabil Stock Down 1.7%

JBL stock traded down $3.78 during trading hours on Tuesday, hitting $218.51. The company's stock had a trading volume of 219,242 shares, compared to its average volume of 1,413,004. The company has a quick ratio of 0.64, a current ratio of 0.98 and a debt-to-equity ratio of 1.85. The company has a market capitalization of $23.45 billion, a PE ratio of 42.44, a price-to-earnings-growth ratio of 1.53 and a beta of 1.20. Jabil, Inc. has a 12 month low of $97.95 and a 12 month high of $232.84. The stock has a 50 day moving average price of $205.28 and a two-hundred day moving average price of $169.45.

Jabil (NYSE:JBL - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.03 billion. Jabil had a net margin of 2.02% and a return on equity of 60.19%. Jabil's quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.89 EPS. On average, equities research analysts expect that Jabil, Inc. will post 8.05 earnings per share for the current year.

Insider Activity

In related news, Chairman Mark T. Mondello sold 150,000 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $193.33, for a total transaction of $28,999,500.00. Following the completion of the transaction, the chairman directly owned 1,560,192 shares in the company, valued at $301,631,919.36. This represents a 8.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Dastoor sold 18,234 shares of the company's stock in a transaction 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. The trade was a 8.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 322,847 shares of company stock worth $63,849,847. Corporate insiders own 1.73% of the company's stock.

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).