Meyer Handelman Co. Boosts Stake in Jabil, Inc. $JBL

Key Points

• Meyer Handelman Co. increased its stake in Jabil, Inc. by 3.4% during Q2, holding 54,071 shares worth approximately $11.8 million.
• Jabil recently announced a quarterly dividend of $0.08 per share, representing an annualized dividend of $0.32 and a yield of 0.2% with a payout ratio of 6.21%.
• Several brokerages have raised their price targets for Jabil, with JPMorgan Chase increasing it from $214 to $256, offering an "overweight" rating on the stock.

Meyer Handelman Co. grew its position in shares of Jabil, Inc. (NYSE:JBL - Free Report) by 3.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,071 shares of the technology company's stock after acquiring an additional 1,755 shares during the quarter. Meyer Handelman Co. owned about 0.05% of Jabil worth $11,793,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Dakota Wealth Management purchased a new stake in shares of Jabil during the 2nd quarter worth about $1,254,000. Perigon Wealth Management LLC acquired a new position in Jabil during the second quarter valued at approximately $248,000. Mather Group LLC. lifted its position in Jabil by 5.4% during the second quarter. Mather Group LLC. now owns 1,186 shares of the technology company's stock valued at $259,000 after buying an additional 61 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Jabil by 12.2% during the second quarter. Public Employees Retirement System of Ohio now owns 93,444 shares of the technology company's stock worth $20,380,000 after buying an additional 10,153 shares during the period. Finally, Financial Management Professionals Inc. increased its position in shares of Jabil by 58.1% in the second quarter. Financial Management Professionals Inc. now owns 264 shares of the technology company's stock worth $58,000 after acquiring an additional 97 shares in the last quarter. 93.39% of the stock is owned by institutional investors and hedge funds.

Jabil Trading Down 6.6%

NYSE:JBL opened at $210.42 on Friday. The stock has a market cap of $22.58 billion, a price-to-earnings ratio of 40.86, a price-to-earnings-growth ratio of 1.33 and a beta of 1.25. Jabil, Inc. has a one year low of $108.66 and a one year high of $237.14. 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 business's 50-day simple moving average is $216.73 and its 200 day simple moving average is $183.55.

Jabil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Friday, August 15th. Jabil's dividend payout ratio is 6.21%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on JBL. JPMorgan Chase & Co. upped their price target on shares of Jabil from $214.00 to $256.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Stifel Nicolaus assumed coverage on Jabil in a research note on Wednesday, July 2nd. They set a "buy" rating and a $245.00 price objective on the stock. Zacks Research downgraded Jabil from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. Bank of America raised their target price on Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a report on Friday, June 20th. Finally, Wall Street Zen lowered Jabil from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $236.00.

Insider Buying and Selling at Jabil

In other Jabil news, EVP Andrew Priestley sold 3,702 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $225.00, for a total transaction of $832,950.00. Following the completion of the transaction, the executive vice president directly owned 44,833 shares of the company's stock, valued at $10,087,425. This trade represents a 7.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark T. Mondello sold 20,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $200.02, for a total transaction of $4,000,400.00. Following the completion of the sale, the chairman directly owned 1,400,190 shares of the company's stock, valued at $280,066,003.80. The trade was a 1.41% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,416 shares of company stock valued at $18,625,639. Corporate insiders own 1.73% of the company's stock.

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).

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