LSV Asset Management lessened its stake in Jabil, Inc. (NYSE:JBL - Free Report) by 6.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,102,761 shares of the technology company's stock after selling 147,402 shares during the quarter. LSV Asset Management owned about 1.96% of Jabil worth $286,123,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JBL. FMR LLC lifted its stake in Jabil by 8.1% in the 4th quarter. FMR LLC now owns 5,533,149 shares of the technology company's stock valued at $796,220,000 after acquiring an additional 416,841 shares in the last quarter. Geode Capital Management LLC raised its holdings in Jabil by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,810,519 shares of the technology company's stock valued at $404,024,000 after acquiring an additional 34,574 shares in the last quarter. Northern Trust Corp increased its stake in Jabil by 21.7% in the fourth quarter. Northern Trust Corp now owns 1,278,732 shares of the technology company's stock valued at $184,010,000 after acquiring an additional 227,954 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Jabil by 3.4% in the 1st quarter. Bank of New York Mellon Corp now owns 1,118,282 shares of the technology company's stock valued at $152,165,000 after purchasing an additional 37,201 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in Jabil by 1,007.6% in 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 purchasing an additional 878,444 shares during the last quarter. 93.39% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
JBL has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price target on shares of Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $230.00 price target (up previously from $170.00) on shares of Jabil in a report on Wednesday, June 18th. The Goldman Sachs Group upped their price objective on shares of Jabil from $188.00 to $215.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. Barclays upped their price target on Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a research report on Tuesday, June 17th. Finally, Wall Street Zen lowered shares of Jabil from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. One equities 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 company. Based on data from MarketBeat, Jabil presently has an average rating of "Buy" and a consensus target price of $231.71.
Read Our Latest Stock Report on Jabil
Insider Activity
In other Jabil news, Director Steven A. Raymund sold 13,432 shares of the stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $223.11, for a total value of $2,996,813.52. Following the transaction, the director owned 86,396 shares of the company's stock, valued at approximately $19,275,811.56. This represents a 13.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark T. Mondello sold 20,000 shares of Jabil stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $216.59, for a total value of $4,331,800.00. Following the completion of the sale, the chairman directly owned 1,440,190 shares in the company, valued at approximately $311,930,752.10. This represents a 1.37% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 322,847 shares of company stock worth $63,849,847. Corporate insiders own 1.73% of the company's stock.
Jabil Stock Performance
JBL stock traded up $3.59 during trading on Monday, hitting $222.15. 1,058,435 shares of the company's stock traded hands, compared to its average volume of 1,264,365. The stock has a fifty day moving average price of $204.15 and a two-hundred day moving average price of $169.04. 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 stock has a market capitalization of $23.84 billion, a price-to-earnings ratio of 43.14, a price-to-earnings-growth ratio of 1.53 and a beta of 1.20. Jabil, Inc. has a 52 week low of $95.85 and a 52 week high of $232.84.
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, topping the consensus estimate of $2.28 by $0.27. The business had revenue of $7.83 billion during the quarter, compared to analysts' expectations 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 in the previous year, the firm earned $1.89 EPS. As a group, equities analysts anticipate that Jabil, Inc. will post 8.05 EPS for the current fiscal year.
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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