Assenagon Asset Management S.A. Buys 190,242 Shares of Jabil Inc. (NYSE:JBL)

Assenagon Asset Management S.A. raised its position in Jabil Inc. (NYSE:JBL - Free Report) by 119.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 349,300 shares of the technology company's stock after buying an additional 190,242 shares during the quarter. Assenagon Asset Management S.A. owned about 0.33% of Jabil worth $47,529,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of JBL. SBI Securities Co. Ltd. bought a new position in Jabil in the 4th quarter valued at about $27,000. Murphy & Mullick Capital Management Corp bought a new position in Jabil in the 4th quarter valued at about $29,000. Harbor Capital Advisors Inc. increased its holdings in Jabil by 110.5% in the 1st quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock valued at $30,000 after buying an additional 116 shares during the period. Millstone Evans Group LLC bought a new position in Jabil in the 4th quarter valued at about $37,000. Finally, First Horizon Advisors Inc. boosted its stake in shares of Jabil by 90.3% in the 4th quarter. First Horizon Advisors Inc. now owns 274 shares of the technology company's stock valued at $39,000 after purchasing an additional 130 shares in the last quarter. 93.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on JBL. The Goldman Sachs Group raised their price target on shares of Jabil from $165.00 to $188.00 and gave the company a "buy" rating in a research note on Tuesday. Barclays raised their price target on shares of Jabil from $184.00 to $206.00 and gave the company an "overweight" rating in a research note on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of Jabil from $175.00 to $154.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. UBS Group raised their price target on shares of Jabil from $152.00 to $157.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Finally, Wall Street Zen upgraded shares of Jabil from a "hold" rating to a "buy" rating in a research note on Monday, May 19th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $169.17.

Jabil Trading Down 1.8%

NYSE:JBL traded down $3.31 during mid-day trading on Friday, hitting $175.77. 1,224,670 shares of the company's stock were exchanged, compared to its average volume of 1,432,826. The company has a 50 day simple moving average of $155.54 and a 200-day simple moving average of $150.76. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. Jabil Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $180.16. The firm has a market capitalization of $18.87 billion, a P/E ratio of 16.85, a PEG ratio of 1.65 and a beta of 1.14.

Jabil (NYSE:JBL - Get Free Report) last posted its earnings results on Thursday, March 20th. The technology company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.83 by $0.11. Jabil had a net margin of 4.71% and a return on equity of 41.87%. The business had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same period last year, the company earned $1.68 EPS. The firm's revenue was down .6% compared to the same quarter last year. 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 declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were given a $0.08 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.18%. Jabil's dividend payout ratio (DPR) is currently 7.66%.

Insider Transactions at Jabil

In other news, CEO Michael Dastoor sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $169.90, for a total value of $1,699,000.00. Following the transaction, the chief executive officer now owns 221,693 shares in the company, valued at approximately $37,665,640.70. The trade was a 4.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark T. Mondello sold 20,000 shares of Jabil stock in a transaction on Friday, April 11th. The shares were sold at an average price of $131.56, for a total transaction of $2,631,200.00. Following the completion of the sale, the chairman now owns 1,730,192 shares of the company's stock, valued at $227,624,059.52. This represents a 1.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,000 shares of company stock worth $7,665,200. Company insiders own 1.73% of the company's stock.

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).