L2 Asset Management LLC Grows Stock Holdings in Jabil, Inc. $JBL

Key Points

• L2 Asset Management increased its Jabil stake by 18% in the fourth quarter, ending with 32,648 shares worth about $7.44 million.
• Jabil reported better-than-expected quarterly results, with EPS of $2.69 versus $2.51 expected and revenue of $8.28 billion, up 23.1% year over year.
• Analysts remain broadly positive on the stock, with an average “Moderate Buy” rating and a consensus price target of $357.25, while the company also paid a quarterly dividend of $0.08.

L2 Asset Management LLC raised its position in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 18.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,648 shares of the technology company's stock after buying an additional 4,982 shares during the period. Jabil comprises about 1.0% of L2 Asset Management LLC's holdings, making the stock its 26th largest holding. L2 Asset Management LLC's holdings in Jabil were worth $7,444,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of JBL. Integrated Wealth Concepts LLC boosted its position in shares of Jabil by 34.4% during the first quarter. Integrated Wealth Concepts LLC now owns 2,811 shares of the technology company's stock worth $382,000 after buying an additional 720 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Jabil by 70.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,320 shares of the technology company's stock worth $2,493,000 after buying an additional 7,602 shares during the period. Focus Partners Wealth boosted its position in shares of Jabil by 20.0% during the first quarter. Focus Partners Wealth now owns 4,967 shares of the technology company's stock worth $676,000 after buying an additional 829 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Jabil by 50.0% during the first quarter. Geneos Wealth Management Inc. now owns 582 shares of the technology company's stock worth $79,000 after buying an additional 194 shares during the period. Finally, Jump Financial LLC purchased a new position in shares of Jabil during the second quarter worth $488,000. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Jabil Stock Down 0.1%

Shares of NYSE JBL opened at $384.36 on Tuesday. The stock has a market cap of $40.55 billion, a P/E ratio of 51.59, a PEG ratio of 1.82 and a beta of 1.28. The company has a current ratio of 1.01, a quick ratio of 0.68 and a debt-to-equity ratio of 2.50. Jabil, Inc. has a 12-month low of $177.18 and a 12-month high of $398.89. The business's fifty day simple moving average is $341.64 and its 200-day simple moving average is $278.34.

Jabil (NYSE:JBL - Get Free Report) last posted its quarterly earnings results on Wednesday, March 18th. The technology company reported $2.69 earnings per share for the quarter, beating analysts' consensus estimates of $2.51 by $0.18. Jabil had a return on equity of 80.96% and a net margin of 2.48%.The company had revenue of $8.28 billion for the quarter, compared to analysts' expectations of $7.75 billion. During the same period last year, the firm earned $1.94 earnings per share. Jabil's quarterly revenue was up 23.1% on a year-over-year basis. As a group, equities analysts predict that Jabil, Inc. will post 11.3 EPS for the current fiscal year.

Jabil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Friday, May 15th were paid a $0.08 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.1%. Jabil's dividend payout ratio (DPR) is currently 4.30%.

Insider Buying and Selling

In other Jabil news, SVP Gary K. Schick sold 1,000 shares of the firm's stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $340.00, for a total value of $340,000.00. Following the sale, the senior vice president directly owned 39,843 shares in the company, valued at $13,546,620. This trade represents a 2.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP May Yee Yap sold 1,634 shares of the firm's stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $306.74, for a total value of $501,213.16. Following the completion of the sale, the senior vice president owned 23,787 shares in the company, valued at approximately $7,296,424.38. This represents a 6.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 37,981 shares of company stock valued at $11,360,740 over the last 90 days. 1.35% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

JBL has been the topic of several analyst reports. The Goldman Sachs Group increased their price objective on Jabil from $336.00 to $384.00 and gave the company a "buy" rating in a research note on Thursday, May 21st. UBS Group increased their price objective on Jabil from $273.00 to $380.00 and gave the company a "neutral" rating in a research note on Tuesday, June 9th. Stifel Nicolaus increased their price objective on Jabil from $290.00 to $430.00 and gave the company a "buy" rating in a research note on Monday. Zacks Research cut Jabil from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 18th. Finally, Barclays increased their price objective on Jabil from $283.00 to $304.00 and gave the company an "overweight" rating in a research note on Wednesday, March 18th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $357.25.

About Jabil

Jabil Inc NYSE: JBL is a global manufacturing solutions provider specializing in electronic manufacturing services (EMS) and diversified products across a wide range of industries. The company partners with original equipment manufacturers to deliver design engineering, supply chain management, precision manufacturing, and aftermarket services. Jabil's expertise spans sectors such as healthcare, automotive, clean technology, telecommunications, consumer electronics, and packaging, enabling it to support both high-volume production and complex, mission-critical applications.

Founded in 1966 by William E.

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