Jabil, Inc. (NYSE:JBL) Shares Sold by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd reduced its stake in Jabil, Inc. by 3.4%, owning 99,324 shares valued at about $13.5 million at the end of the last reporting period.
• Several institutional investors, such as Harbor Capital Advisors and Golden State Wealth Management, significantly increased their positions in Jabil during the first quarter, indicating strong investor interest.
• Jabil's recent quarterly earnings surpassed estimates, reporting $2.55 EPS and $7.83 billion in revenue, reflecting a 15.7% increase year-over-year.

Mediolanum International Funds Ltd trimmed its stake in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,324 shares of the technology company's stock after selling 3,491 shares during the quarter. Mediolanum International Funds Ltd owned approximately 0.09% of Jabil worth $13,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. lifted its stake in shares of Jabil by 5.6% in the 4th quarter. American Century Companies Inc. now owns 246,198 shares of the technology company's stock valued at $35,428,000 after purchasing an additional 13,161 shares during the period. LPL Financial LLC lifted its stake in shares of Jabil by 23.5% in the 4th quarter. LPL Financial LLC now owns 40,748 shares of the technology company's stock valued at $5,864,000 after purchasing an additional 7,747 shares during the period. Modern Wealth Management LLC purchased a new position in Jabil during the fourth quarter valued at $209,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Jabil by 4.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 186,373 shares of the technology company's stock worth $27,893,000 after acquiring an additional 8,291 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co grew its stake in shares of Jabil by 10.9% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 11,179 shares of the technology company's stock worth $1,609,000 after acquiring an additional 1,102 shares during the last quarter. 93.39% of the stock is currently owned by institutional investors.

Jabil Trading Down 0.8%

NYSE JBL traded down $1.81 on Wednesday, reaching $228.57. The stock had a trading volume of 289,333 shares, compared to its average volume of 1,419,540. Jabil, Inc. has a 12-month low of $95.85 and a 12-month high of $232.84. The stock has a fifty day moving average price of $200.70 and a two-hundred day moving average price of $167.60. 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 firm has a market capitalization of $24.53 billion, a price-to-earnings ratio of 44.38, a P/E/G ratio of 1.57 and a beta of 1.20.

Jabil (NYSE:JBL - Get Free Report) last released its quarterly earnings results on Tuesday, June 17th. The technology company reported $2.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.28 by $0.27. The firm had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.03 billion. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The business's revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the company posted $1.89 earnings per share. As a group, sell-side analysts forecast that Jabil, Inc. will post 8.05 EPS for the current fiscal year.

Insider Buying and Selling at Jabil

In related news, EVP Steven D. Borges sold 22,443 shares of Jabil stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $200.01, for a total transaction of $4,488,824.43. Following the transaction, the executive vice president owned 102,803 shares in the company, valued at approximately $20,561,628.03. The trade was a 17.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Andrew Priestley sold 13,913 shares of the business's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $203.17, for a total transaction of $2,826,704.21. Following the completion of the transaction, the executive vice president owned 53,528 shares in the company, valued at $10,875,283.76. This represents a 20.63% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 322,847 shares of company stock worth $63,849,847. 1.73% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on JBL. UBS Group boosted their price target on Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. JPMorgan Chase & Co. lifted their price objective on Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Barclays boosted their price target on Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Raymond James Financial restated a "strong-buy" rating and issued a $230.00 price objective (up from $170.00) on shares of Jabil in a research report on Wednesday, June 18th. Finally, Argus upgraded Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday, June 18th. One analyst has rated the stock with a hold rating, seven have issued 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 price target of $231.71.

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).