Kovitz Investment Group Partners LLC Buys 30,450 Shares of Jabil, Inc. $JBL

Key Points

• Kovitz Investment Group Partners LLC raised its holdings in Jabil, Inc. by 844.7%, now owning over 34,000 shares valued at $4.63 million.
• Jabil reported a second-quarter EPS of $2.55, exceeding expectations and showing a 15.7% year-over-year revenue increase to $7.83 billion.
• The company declared a $0.08 dividend with a yield of 14.0%, set to be paid on September 3rd, 2023.

Kovitz Investment Group Partners LLC boosted its holdings in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 844.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,055 shares of the technology company's stock after acquiring an additional 30,450 shares during the period. Kovitz Investment Group Partners LLC's holdings in Jabil were worth $4,634,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JBL. Townsquare Capital LLC raised its position in Jabil by 4.1% during the fourth quarter. Townsquare Capital LLC now owns 5,204 shares of the technology company's stock worth $749,000 after acquiring an additional 207 shares during the last quarter. Mariner LLC grew its holdings in Jabil by 15.8% in the fourth quarter. Mariner LLC now owns 17,084 shares of the technology company's stock valued at $2,458,000 after purchasing an additional 2,327 shares during the period. CreativeOne Wealth LLC grew its holdings in Jabil by 26.2% in the fourth quarter. CreativeOne Wealth LLC now owns 5,007 shares of the technology company's stock valued at $721,000 after purchasing an additional 1,038 shares during the period. Guggenheim Capital LLC grew its holdings in Jabil by 45.0% in the fourth quarter. Guggenheim Capital LLC now owns 20,716 shares of the technology company's stock valued at $2,981,000 after purchasing an additional 6,432 shares during the period. Finally, NewEdge Advisors LLC grew its holdings in Jabil by 234.0% in the fourth quarter. NewEdge Advisors LLC now owns 12,254 shares of the technology company's stock valued at $1,763,000 after purchasing an additional 8,585 shares during the period. Institutional investors and hedge funds own 93.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on JBL shares. Barclays boosted their target price on shares of Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. JPMorgan Chase & Co. boosted their price objective on shares of Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Bank of America boosted their price objective on shares of Jabil from $225.00 to $245.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Wall Street Zen downgraded shares of Jabil from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Finally, UBS Group upped their target price on shares of Jabil from $157.00 to $208.00 and gave the company a "neutral" rating in a research note on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $231.71.

Insider Activity at Jabil

In other news, Chairman Mark T. Mondello sold 150,000 shares of Jabil stock in a transaction dated 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 sale, the chairman directly owned 1,560,192 shares in the company, valued at approximately $301,631,919.36. The trade was a 8.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew Priestley sold 13,913 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $203.17, for a total transaction of $2,826,704.21. Following the completion of the sale, the executive vice president owned 53,528 shares in the company, valued at $10,875,283.76. This represents a 20.63% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 332,847 shares of company stock valued at $66,534,847. 1.73% of the stock is owned by company insiders.

Jabil Stock Performance

Shares of Jabil stock traded down $9.7850 during trading on Tuesday, hitting $205.8750. 2,003,779 shares of the stock were exchanged, compared to its average volume of 1,292,040. The stock's fifty day moving average is $215.68 and its 200 day moving average is $173.56. The stock has a market cap of $22.09 billion, a PE ratio of 39.98, a P/E/G ratio of 1.51 and a beta of 1.20. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.64 and a current ratio of 0.98. Jabil, Inc. has a 12 month low of $99.67 and a 12 month high of $232.84.

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 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 company had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.03 billion. During the same quarter last year, the firm posted $1.89 EPS. The business's revenue for the quarter was up 15.7% on a year-over-year basis. Jabil has set its FY 2025 guidance at 9.330-9.330 EPS. Q4 2025 guidance at 2.640-3.040 EPS. As a group, sell-side analysts anticipate that Jabil, Inc. will post 8.05 EPS for the current year.

Jabil Announces Dividend

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

Jabil 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).