KLP Kapitalforvaltning AS Has $10.65 Million Stake in Jabil, Inc. (NYSE:JBL)

KLP Kapitalforvaltning AS raised its stake in Jabil, Inc. (NYSE:JBL - Free Report) by 95.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,300 shares of the technology company's stock after acquiring an additional 38,300 shares during the quarter. KLP Kapitalforvaltning AS owned about 0.07% of Jabil worth $10,654,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd lifted its holdings in Jabil by 37.5% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 18,945 shares of the technology company's stock worth $2,578,000 after buying an additional 5,164 shares in the last quarter. Guidance Capital Inc. lifted its holdings in Jabil by 18.8% during the 1st quarter. Guidance Capital Inc. now owns 6,225 shares of the technology company's stock worth $936,000 after buying an additional 986 shares in the last quarter. HighPoint Advisor Group LLC acquired a new position in Jabil during the 1st quarter worth $230,000. Horizon Investment Services LLC acquired a new position in Jabil during the 1st quarter worth $215,000. Finally, Allianz Asset Management GmbH lifted its holdings in Jabil by 15.9% during the 1st quarter. Allianz Asset Management GmbH now owns 18,502 shares of the technology company's stock worth $2,518,000 after buying an additional 2,534 shares in the last quarter. Institutional investors and hedge funds own 93.39% of the company's stock.

Insider Buying and Selling at Jabil

In related news, EVP Frederic E. Mccoy sold 4,500 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $223.55, for a total transaction of $1,005,975.00. Following the sale, the executive vice president owned 124,203 shares of the company's stock, valued at approximately $27,765,580.65. This trade represents a 3.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Anousheh Ansari sold 1,000 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $222.75, for a total value of $222,750.00. Following the sale, the director directly owned 36,400 shares in the company, valued at $8,108,100. The trade was a 2.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 322,847 shares of company stock worth $63,849,847 in the last three months. 1.73% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on JBL. Argus raised Jabil from a "hold" rating to a "buy" rating in a report on Wednesday, June 18th. UBS Group raised their price target on Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th. Stifel Nicolaus began coverage on Jabil in a research report on Wednesday, July 2nd. They issued a "buy" rating and a $245.00 price target on the stock. Bank of America raised their price target on Jabil from $225.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Finally, The Goldman Sachs Group raised their price target on Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $231.71.

Jabil Trading Down 0.3%

Jabil stock traded down $0.56 during mid-day trading on Monday, hitting $221.99. 196,710 shares of the company's stock were exchanged, compared to its average volume of 1,420,444. The firm has a market capitalization of $23.82 billion, a P/E ratio of 43.05, a PEG ratio of 1.55 and a beta of 1.20. Jabil, Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $229.16. 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's 50 day simple moving average is $198.29 and its 200-day simple moving average is $166.67.

Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings data on Tuesday, June 17th. The technology company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.28 by $0.27. The business had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.03 billion. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The firm's revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.89 EPS. On average, equities analysts anticipate that Jabil, Inc. will post 8.05 earnings per share for the current year.

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).