Mirae Asset Global Investments Co. Ltd. Increases Holdings in Jabil, Inc. (NYSE:JBL)

Mirae Asset Global Investments Co. Ltd. increased its position in Jabil, Inc. (NYSE:JBL - Free Report) by 65.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,407 shares of the technology company's stock after acquiring an additional 7,670 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Jabil were worth $2,639,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of Jabil by 70,781.4% in the 4th quarter. Wellington Management Group LLP now owns 5,808,730 shares of the technology company's stock valued at $835,876,000 after purchasing an additional 5,800,535 shares in the last quarter. Norges Bank purchased a new stake in Jabil in the fourth quarter worth $218,430,000. Point72 Asset Management L.P. boosted its holdings 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 acquiring an additional 878,444 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in Jabil by 16,190.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 552,740 shares of the technology company's stock valued at $79,539,000 after purchasing an additional 549,347 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Jabil by 17,410.3% in the 1st quarter. GAMMA Investing LLC now owns 524,958 shares of the technology company's stock worth $71,431,000 after purchasing an additional 521,960 shares in the last quarter. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Jabil Stock Performance

Shares of NYSE:JBL traded up $2.66 during midday trading on Thursday, reaching $224.55. 1,129,028 shares of the company's stock traded hands, compared to its average volume of 1,417,201. Jabil, Inc. has a one year low of $95.85 and a one year high of $227.50. The stock has a 50 day moving average of $175.18 and a 200 day moving average of $157.42. The company has a market cap of $24.10 billion, a price-to-earnings ratio of 43.60, a P/E/G ratio of 1.51 and a beta of 1.20. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.64 and a current ratio of 0.98.

Jabil (NYSE:JBL - Get Free Report) last announced its quarterly 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. The firm had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.03 billion. Jabil had a net margin of 2.02% and a return on equity of 60.19%. The business's revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.89 earnings per share. As a group, equities research analysts anticipate that Jabil, Inc. will post 8.05 EPS for the current fiscal year.

Jabil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Thursday, May 15th were paid a $0.08 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.14%. Jabil's dividend payout ratio (DPR) is currently 6.21%.

Insider Activity

In related news, SVP Francis Mckay sold 3,395 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $205.48, for a total transaction of $697,604.60. Following the completion of the sale, the senior vice president owned 38,112 shares in the company, valued at approximately $7,831,253.76. This trade represents a 8.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark T. Mondello sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $216.59, for a total value of $4,331,800.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 316,431 shares of company stock worth $60,571,609. Company insiders own 1.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on JBL shares. Stifel Nicolaus started coverage on Jabil in a research report on Wednesday. They set a "buy" rating and a $245.00 price target on the stock. Wall Street Zen raised shares of Jabil from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 27th. The Goldman Sachs Group increased their price target on shares of Jabil from $188.00 to $215.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Bank of America raised their target price on shares of Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Finally, Argus raised Jabil from a "hold" rating to a "buy" rating in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $225.71.

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).