Lightrock Netherlands B.V. decreased its stake in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 39.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,858 shares of the technology company's stock after selling 36,641 shares during the quarter. Jabil comprises about 2.0% of Lightrock Netherlands B.V.'s investment portfolio, making the stock its 26th biggest holding. Lightrock Netherlands B.V. owned about 0.05% of Jabil worth $7,750,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in JBL. Wellington Management Group LLP raised its stake in Jabil by 70,781.4% during the fourth quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company's stock valued at $835,876,000 after buying an additional 5,800,535 shares during the last quarter. Norges Bank purchased a new position in Jabil during the fourth quarter valued at $218,430,000. Point72 Asset Management L.P. raised its stake in Jabil by 1,007.6% during the fourth quarter. Point72 Asset Management L.P. now owns 965,629 shares of the technology company's stock valued at $138,954,000 after buying an additional 878,444 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Jabil by 16,190.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 552,740 shares of the technology company's stock valued at $79,539,000 after buying an additional 549,347 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Jabil by 17,410.3% during the first quarter. GAMMA Investing LLC now owns 524,958 shares of the technology company's stock valued at $71,431,000 after buying an additional 521,960 shares during the last quarter. Hedge funds and other institutional investors own 93.39% of the company's stock.
Insider Activity
In other Jabil news, EVP Andrew Priestley sold 13,913 shares of the company's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $203.17, for a total value of $2,826,704.21. Following the transaction, the executive vice president owned 53,528 shares of the company's stock, valued at $10,875,283.76. This represents a 20.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Mark T. Mondello sold 150,000 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $193.33, for a total value of $28,999,500.00. Following the transaction, the chairman directly owned 1,560,192 shares in the company, valued at $301,631,919.36. The trade was a 8.77% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 316,431 shares of company stock worth $60,571,609. 1.73% of the stock is currently owned by corporate insiders.
Jabil Price Performance
NYSE JBL opened at $224.55 on Friday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.64 and a current ratio of 0.98. The business's fifty day moving average is $178.31 and its 200 day moving average is $158.66. The company has a market capitalization of $24.10 billion, a PE ratio of 43.60, a price-to-earnings-growth ratio of 1.58 and a beta of 1.20. Jabil, Inc. has a fifty-two week low of $95.85 and a fifty-two week high of $227.54.
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 analysts' consensus estimates of $2.28 by $0.27. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The firm had revenue of $7.83 billion for the quarter, compared to analysts' expectations of $7.03 billion. During the same period in the previous year, the firm earned $1.89 EPS. The business's quarterly revenue was up 15.7% on a year-over-year basis. Sell-side analysts predict that Jabil, Inc. will post 8.05 earnings per share for the current year.
Jabil Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.14%. Jabil's payout ratio is currently 6.21%.
Analyst Ratings Changes
JBL has been the subject of a number of research analyst reports. Wall Street Zen raised Jabil from a "buy" rating to a "strong-buy" rating in a report on Friday, June 27th. UBS Group lifted their target price on Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. Stifel Nicolaus initiated coverage on Jabil in a report on Wednesday. They issued a "buy" rating and a $245.00 target price for the company. Bank of America lifted their target price on Jabil from $225.00 to $245.00 and gave the stock a "buy" rating in a report on Friday, June 20th. Finally, Argus raised Jabil from a "hold" rating to a "buy" rating in a report on Wednesday, June 18th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $225.71.
Check Out Our Latest Report on Jabil
About Jabil
(
Free Report)
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).
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