Maxi Investments CY Ltd Grows Stake in Jabil, Inc. (NYSE:JBL)

Key Points

• Maxi Investments CY Ltd increased its investment in Jabil, Inc. by 278%, purchasing an additional 10,218 shares and bringing its total holdings to $1.89 million.
• Jabil reported strong earnings, with an EPS of $2.55 for the last quarter, surpassing estimates and seeing a 15.7% increase in revenue year-over-year.
• Analysts have raised their price targets on Jabil, with JPMorgan raising theirs from $214 to $256, reflecting strong market confidence in the company's future performance.

Maxi Investments CY Ltd boosted its holdings in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 278.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,893 shares of the technology company's stock after acquiring an additional 10,218 shares during the quarter. Maxi Investments CY Ltd's holdings in Jabil were worth $1,890,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. raised its position in shares of Jabil by 84.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 13,568 shares of the technology company's stock worth $1,846,000 after acquiring an additional 6,225 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Jabil by 8.1% during the first quarter. Envestnet Asset Management Inc. now owns 242,977 shares of the technology company's stock worth $33,062,000 after purchasing an additional 18,126 shares during the period. Kingswood Wealth Advisors LLC increased its holdings in 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 purchasing an additional 217 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new position in Jabil in the first quarter valued at approximately $214,000. Finally, QRG Capital Management Inc. boosted its holdings in shares of Jabil by 2.3% during the 1st quarter. QRG Capital Management Inc. now owns 5,978 shares of the technology company's stock worth $813,000 after buying an additional 132 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Jabil Stock Up 1.8%

Shares of JBL stock traded up $4.03 during trading hours on Friday, reaching $224.52. The company had a trading volume of 1,315,372 shares, compared to its average volume of 1,415,031. The company has a market cap of $24.09 billion, a price-to-earnings ratio of 43.60, a price-to-earnings-growth ratio of 1.54 and a beta of 1.20. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.98 and a quick ratio of 0.64. Jabil, Inc. has a 12 month low of $99.67 and a 12 month high of $232.84. The business has a fifty day simple moving average of $208.39 and a 200-day simple moving average of $170.55.

Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings data on Tuesday, June 17th. The technology company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.27. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The business had revenue of $7.83 billion for the quarter, compared to analysts' expectations of $7.03 billion. During the same period last year, the business earned $1.89 EPS. The business's revenue was up 15.7% on a year-over-year basis. On average, research analysts expect that Jabil, Inc. will post 8.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on JBL shares. JPMorgan Chase & Co. lifted their price objective on shares of Jabil from $214.00 to $256.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. The Goldman Sachs Group lifted their price target 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. Stifel Nicolaus initiated coverage on shares of Jabil in a research report on Wednesday, July 2nd. They set a "buy" rating and a $245.00 price objective on the stock. Argus upgraded Jabil from a "hold" rating to a "buy" rating in a report on Wednesday, June 18th. Finally, Barclays boosted their price objective on Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Jabil has an average rating of "Buy" and a consensus target price of $231.71.

Insiders Place Their Bets

In related news, Director Anousheh Ansari sold 1,000 shares of Jabil stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $222.75, for a total transaction of $222,750.00. Following the sale, the director directly owned 36,400 shares in the company, valued at approximately $8,108,100. This trade represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven A. Raymund sold 13,432 shares of the business's stock in a transaction on 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 completion of the transaction, the director directly owned 86,396 shares in the company, valued at approximately $19,275,811.56. This represents a 13.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 342,847 shares of company stock worth $68,233,847 in the last ninety days. 1.73% of the stock is owned by corporate insiders.

Jabil 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).