Mackenzie Financial Corp Decreases Position in Jabil, Inc. (NYSE:JBL)

Key Points

• Mackenzie Financial Corp significantly reduced its holdings in Jabil, Inc. by 60.1% during the first quarter, selling 42,116 shares, leaving them with 27,953 shares valued at approximately $3.8 million.
• Several other large investors increased their stakes in Jabil, with LPL Financial LLC raising theirs by 23.5% in the fourth quarter, now owning nearly 40,748 shares worth $5.86 million.
• Jabil's most recent quarterly earnings report showed earnings per share of $2.55, exceeding analysts' estimates, and a year-over-year revenue increase of 15.7%.

Mackenzie Financial Corp lowered its stake in Jabil, Inc. (NYSE:JBL - Free Report) by 60.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,953 shares of the technology company's stock after selling 42,116 shares during the period. Mackenzie Financial Corp's holdings in Jabil were worth $3,804,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. boosted its stake in shares of Jabil by 1,007.6% during the 4th quarter. Point72 Asset Management L.P. now owns 965,629 shares of the technology company's stock worth $138,954,000 after purchasing an additional 878,444 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of 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. GAMMA Investing LLC raised its holdings in shares of Jabil by 17,410.3% in the first quarter. GAMMA Investing LLC now owns 524,958 shares of the technology company's stock worth $71,431,000 after buying an additional 521,960 shares during the period. FMR LLC raised its holdings in shares of Jabil by 8.1% in the fourth quarter. FMR LLC now owns 5,533,149 shares of the technology company's stock worth $796,220,000 after buying an additional 416,841 shares during the period. Finally, Wedge Capital Management L L P NC bought a new stake in shares of Jabil during the 1st quarter worth approximately $51,257,000. 93.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on JBL. 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 research note on Wednesday, June 18th. Argus raised shares of Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday, June 18th. Wall Street Zen lowered Jabil from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. The Goldman Sachs Group raised their price objective on Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. Finally, Stifel Nicolaus assumed coverage on Jabil in a report on Wednesday, July 2nd. They issued a "buy" rating and a $245.00 target price for the company. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Jabil currently has a consensus rating of "Buy" and a consensus target price of $231.71.

Insider Activity

In other Jabil news, EVP Steven D. Borges sold 22,443 shares of Jabil 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 completion of the transaction, the executive vice president owned 102,803 shares in the company, valued at approximately $20,561,628.03. This trade represents a 17.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven A. Raymund sold 15,955 shares of the business's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $216.83, for a total value of $3,459,522.65. Following the completion of the transaction, the director directly owned 99,828 shares of the company's stock, valued at $21,645,705.24. The trade was a 13.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 322,847 shares of company stock valued at $63,849,847 over the last quarter. Insiders own 1.73% of the company's stock.

Jabil Stock Performance

Shares of NYSE JBL traded up $3.59 during mid-day trading on Monday, hitting $222.15. The stock had a trading volume of 1,058,435 shares, compared to its average volume of 1,421,434. The company has a 50 day moving average of $204.15 and a two-hundred day moving average of $169.04. Jabil, Inc. has a twelve month low of $95.85 and a twelve month high of $232.84. 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 firm has a market cap of $23.84 billion, a PE ratio of 43.14, a PEG ratio of 1.53 and a beta of 1.20.

Jabil (NYSE:JBL - Get Free Report) last released its earnings results on Tuesday, June 17th. The technology company reported $2.55 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $7.03 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. The company's revenue was up 15.7% compared to the same quarter last year. Research analysts predict that Jabil, Inc. will post 8.05 EPS for the current fiscal year.

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).