Jabil, Inc. (NYSE:JBL) Stock Holdings Lifted by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. increased its holdings in Jabil, Inc. by 15.7%, raising its total shares to 2,173,095, valued at around $295.7 million.
• Jabil reported earnings of $2.55 per share for the most recent quarter, significantly exceeding analysts' estimates and reflecting a 15.7% increase in revenue year-over-year.
• The company announced a $0.08 dividend set to be paid on September 3rd, with an associated yield of 14.0%, indicating a strong return for shareholders.

JPMorgan Chase & Co. lifted its position in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 15.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 2,173,095 shares of the technology company's stock after buying an additional 295,496 shares during the period. JPMorgan Chase & Co. owned 2.02% of Jabil worth $295,693,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of JBL. Creative Financial Designs Inc. ADV purchased a new position in shares of Jabil during the first quarter valued at approximately $27,000. Harbor Capital Advisors Inc. lifted its stake in shares of Jabil by 110.5% during the first 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. Golden State Wealth Management LLC lifted its stake in shares of Jabil by 2,400.0% during the first quarter. Golden State Wealth Management LLC now owns 275 shares of the technology company's stock valued at $37,000 after buying an additional 264 shares during the period. True Wealth Design LLC lifted its stake in shares of Jabil by 3,411.1% during the fourth quarter. True Wealth Design LLC now owns 316 shares of the technology company's stock valued at $45,000 after buying an additional 307 shares during the period. Finally, Wayfinding Financial LLC purchased a new position in shares of Jabil during the first quarter valued at approximately $52,000. Hedge funds and other institutional investors own 93.39% of the company's stock.

Insider Activity at Jabil

In other news, EVP Steven D. Borges sold 22,443 shares of the firm's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $200.01, for a total value of $4,488,824.43. Following the transaction, the executive vice president directly owned 102,803 shares in the company, valued at approximately $20,561,628.03. This trade represents a 17.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 completion of the sale, the chairman owned 1,560,192 shares in the company, valued at approximately $301,631,919.36. This represents a 8.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 332,847 shares of company stock worth $66,534,847 over the last 90 days. Company insiders own 1.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. 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. Bank of America increased their price target 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. UBS Group increased their price target on shares of Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. 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, Stifel Nicolaus initiated coverage on shares of Jabil in a research note on Wednesday, July 2nd. They set a "buy" rating and a $245.00 price target on the stock. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $231.71.

Jabil Stock Down 1.0%

JBL traded down $2.09 during trading hours on Friday, reaching $215.31. 1,272,574 shares of the stock traded hands, compared to its average volume of 1,272,822. The firm's fifty day simple moving average is $214.36 and its two-hundred day simple moving average is $172.81. The company has a market cap of $23.11 billion, a price-to-earnings ratio of 41.81, a PEG ratio of 1.52 and a beta of 1.20. Jabil, Inc. has a fifty-two week low of $99.67 and a fifty-two week high of $232.84. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.98 and a quick ratio of 0.64.

Jabil (NYSE:JBL - Get Free Report) last released its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share for the quarter, beating analysts' consensus estimates of $2.28 by $0.27. The business had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.03 billion. Jabil had a net margin of 2.02% and a return on equity of 60.19%. The business's revenue was up 15.7% on a year-over-year basis. During the same period last year, the business earned $1.89 EPS. As a group, analysts forecast that Jabil, Inc. will post 8.05 earnings per share for the current fiscal year.

Jabil Dividend Announcement

The business also recently disclosed 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 of this dividend is Friday, August 15th. Jabil's dividend payout ratio (DPR) is currently 6.21%.

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).