Live Oak Private Wealth LLC Boosts Stock Position in Jabil, Inc. (NYSE:JBL)

Live Oak Private Wealth LLC grew its stake in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,117 shares of the technology company's stock after acquiring an additional 1,361 shares during the period. Live Oak Private Wealth LLC's holdings in Jabil were worth $6,003,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in JBL. Kingswood Wealth Advisors LLC raised its position in shares of Jabil by 7.0% in the first quarter. Kingswood Wealth Advisors LLC now owns 3,326 shares of the technology company's stock worth $453,000 after buying an additional 217 shares in the last quarter. Truist Financial Corp raised its position in shares of Jabil by 50.4% in the fourth quarter. Truist Financial Corp now owns 12,037 shares of the technology company's stock worth $1,732,000 after buying an additional 4,034 shares in the last quarter. Keybank National Association OH purchased a new stake in shares of Jabil in the fourth quarter worth $214,000. Harbor Capital Advisors Inc. raised its position in shares of Jabil by 110.5% in the first quarter. Harbor Capital Advisors Inc. now owns 221 shares of the technology company's stock worth $30,000 after buying an additional 116 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Jabil by 4.4% in the fourth quarter. Principal Financial Group Inc. now owns 143,266 shares of the technology company's stock worth $20,616,000 after buying an additional 5,993 shares in the last quarter. Hedge funds and other institutional investors own 93.39% of the company's stock.

Jabil Stock Up 0.5%

Shares of NYSE:JBL opened at $205.72 on Monday. The stock's 50-day moving average price is $162.20 and its 200-day moving average price is $153.19. Jabil, Inc. has a 12-month low of $95.85 and a 12-month high of $208.69. The stock has a market capitalization of $22.08 billion, a P/E ratio of 39.95, a price-to-earnings-growth ratio of 1.50 and a beta of 1.14. The company has a current ratio of 0.98, a quick ratio of 0.64 and a debt-to-equity ratio of 1.85.

Jabil (NYSE:JBL - Get Free Report) last announced its quarterly earnings data on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) 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 last year, the firm earned $1.89 earnings per share. The company's revenue for the quarter was up 15.7% compared to the same quarter last year. On average, equities analysts anticipate that Jabil, Inc. will post 8.05 earnings per share for the current year.

Jabil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.16%. Jabil's dividend payout ratio is currently 6.21%.

Insider Transactions at Jabil

In other news, Chairman Mark T. Mondello sold 150,000 shares of the 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 now directly owns 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Steven D. Borges sold 22,443 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $200.01, for a total transaction of $4,488,824.43. Following the sale, the executive vice president now owns 102,803 shares of the company's stock, valued at approximately $20,561,628.03. This represents a 17.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 277,976 shares of company stock worth $52,261,361. Company insiders own 1.73% of the company's stock.

Analyst Upgrades and Downgrades

JBL has been the topic of a number of recent analyst reports. UBS Group increased their price objective on Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th. The Goldman Sachs Group increased their target price on Jabil from $188.00 to $215.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. Barclays increased their target price on Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a research note on Tuesday, June 17th. Argus raised Jabil from a "hold" rating to a "buy" rating in a research note on Wednesday, June 18th. Finally, Bank of America increased their target price on Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a research note on Friday. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Jabil currently has an average rating of "Buy" and an average target price of $213.57.

Jabil Company 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).

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