Jabil, Inc. (NYSE:JBL) Shares Sold by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC sold 1,925 shares of Jabil, Inc., reducing its holdings by 18.0% in the first quarter, resulting in ownership of 8,770 shares valued at approximately $1.19 million.
• Jabil reported a quarterly earnings per share (EPS) of $2.55, exceeding analyst estimates, with revenue of $7.83 billion, a 15.7% increase from the previous year.
• The company announced a dividend of $0.08 per share to be paid on September 3rd, yielding approximately 14.0%.

Mizuho Securities USA LLC lowered its stake in Jabil, Inc. (NYSE:JBL - Free Report) by 18.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,770 shares of the technology company's stock after selling 1,925 shares during the period. Mizuho Securities USA LLC's holdings in Jabil were worth $1,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in shares of Jabil during the 4th quarter worth about $43,312,000. Sterling Capital Management LLC grew its stake in Jabil by 25.7% during the 4th quarter. Sterling Capital Management LLC now owns 10,256 shares of the technology company's stock worth $1,476,000 after buying an additional 2,100 shares during the last quarter. Townsquare Capital LLC grew its stake in shares of Jabil by 4.1% in the 4th quarter. Townsquare Capital LLC now owns 5,204 shares of the technology company's stock valued at $749,000 after purchasing an additional 207 shares during the last quarter. Mariner LLC grew its stake in shares of Jabil by 15.8% in the 4th quarter. Mariner LLC now owns 17,084 shares of the technology company's stock valued at $2,458,000 after purchasing an additional 2,327 shares during the last quarter. Finally, CreativeOne Wealth LLC grew its stake in shares of Jabil by 26.2% in the 4th quarter. CreativeOne Wealth LLC now owns 5,007 shares of the technology company's stock valued at $721,000 after purchasing an additional 1,038 shares during the last quarter. Institutional investors and hedge funds own 93.39% of the company's stock.

Jabil Stock Down 1.0%

NYSE JBL traded down $2.09 on Friday, hitting $215.31. 1,272,574 shares of the stock traded hands, compared to its average volume of 1,272,822. The stock has a 50-day moving average of $214.36 and a 200 day moving average of $172.81. Jabil, Inc. has a twelve month low of $99.67 and a twelve month high of $232.84. The company has a market capitalization of $23.11 billion, a P/E ratio of 41.81, a price-to-earnings-growth ratio of 1.52 and a beta of 1.20. The company has a current ratio of 0.98, a quick ratio of 0.64 and a debt-to-equity ratio of 1.85.

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

Jabil Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, September 3rd. Investors of record on Monday, August 18th will be issued a $0.08 dividend. This represents a yield of 14.0%. The ex-dividend date of this dividend is Friday, August 15th. Jabil's dividend payout ratio is 6.21%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on JBL. Raymond James Financial reaffirmed a "strong-buy" rating and set a $230.00 price objective (up from $170.00) on shares of Jabil in a report on Wednesday, June 18th. The Goldman Sachs Group boosted their price target on Jabil from $188.00 to $215.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Bank of America boosted their price target on Jabil from $225.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, June 20th. UBS Group upped their target price on Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th. Finally, Barclays boosted their price target on Jabil from $206.00 to $223.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $231.71.

Insiders Place Their Bets

In related news, Chairman Mark T. Mondello sold 150,000 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $193.33, for a total value of $28,999,500.00. Following the completion of the transaction, the chairman directly owned 1,560,192 shares of the company's stock, valued at $301,631,919.36. This represents a 8.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven A. Raymund sold 15,955 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was 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. This trade represents a 13.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 332,847 shares of company stock worth $66,534,847. 1.73% of the stock is owned by company insiders.

About Jabil

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).