Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $1.48 Million Stake in Jabil, Inc. (NYSE:JBL)

Key Points

• Empirical Financial Services LLC reduced its stake in Jabil, Inc. by 66.1% during Q1, now holding 10,899 shares valued at approximately $1.48 million.
• Institutional investors own 93.39% of Jabil's stock, with several firms, including Harbor Capital Advisors Inc. and Golden State Wealth Management LLC, significantly increasing their positions.
• Jabil's quarterly earnings beat analysts’ estimates, reporting $2.55 earnings per share on revenues of $7.83 billion, indicating a year-over-year revenue growth of 15.7%.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management reduced its position in Jabil, Inc. (NYSE:JBL - Free Report) by 66.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,899 shares of the technology company's stock after selling 21,205 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Jabil were worth $1,483,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cordatus Wealth Management LLC raised its holdings in shares of Jabil by 2.9% during the first quarter. Cordatus Wealth Management LLC now owns 2,429 shares of the technology company's stock valued at $330,000 after buying an additional 68 shares during the last quarter. Allworth Financial LP raised its holdings in Jabil by 22.5% during the first quarter. Allworth Financial LP now owns 529 shares of the technology company's stock worth $77,000 after purchasing an additional 97 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Jabil by 21.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 565 shares of the technology company's stock worth $77,000 after purchasing an additional 99 shares in the last quarter. Utah Retirement Systems grew its position in Jabil by 0.5% in the fourth quarter. Utah Retirement Systems now owns 18,382 shares of the technology company's stock worth $2,645,000 after buying an additional 100 shares during the last quarter. Finally, Atlas Capital Advisors Inc. grew its position in Jabil by 1.0% in the fourth 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. 93.39% of the stock is owned by hedge funds and other institutional investors.

Jabil Stock Performance

Jabil stock traded down $2.62 on Tuesday, reaching $219.67. 893,772 shares of the stock were exchanged, compared to its average volume of 1,417,845. The stock has a market cap of $23.57 billion, a PE ratio of 42.65, a PEG ratio of 1.53 and a beta of 1.20. The company has a current ratio of 0.98, a quick ratio of 0.64 and a debt-to-equity ratio of 1.85. Jabil, Inc. has a twelve month low of $97.95 and a twelve month high of $232.84. The firm has a fifty 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 announced its quarterly earnings data 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 net margin of 2.02% and a return on equity of 60.19%. The business had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.03 billion. During the same period in the prior year, the business posted $1.89 earnings per share. Jabil's revenue was up 15.7% compared to the same quarter last year. Sell-side analysts anticipate that Jabil, Inc. will post 8.05 EPS for the current year.

Analysts Set New Price Targets

JBL has been the topic of several recent research reports. UBS Group lifted 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. Argus upgraded shares of Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday, June 18th. The Goldman Sachs Group lifted their price objective on shares of Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Raymond James Financial reiterated a "strong-buy" rating and set a $230.00 price objective (up from $170.00) on shares of Jabil in a research report on Wednesday, June 18th. Finally, Wall Street Zen cut shares of 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 given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Jabil has an average rating of "Buy" and a consensus target price of $231.71.

Insider Transactions at Jabil

In related news, EVP Andrew Priestley sold 3,702 shares of the firm's stock in a transaction 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 completion of the transaction, the executive vice president owned 44,833 shares of the company's stock, valued at approximately $10,087,425. This trade represents a 7.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Frederic E. Mccoy sold 4,500 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $223.55, for a total transaction of $1,005,975.00. Following the completion of the sale, the executive vice president owned 124,203 shares of the company's stock, valued at approximately $27,765,580.65. This represents a 3.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 322,847 shares of company stock valued at $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).