NBC Securities Inc. Grows Position in Jabil Inc. (NYSE:JBL)

NBC Securities Inc. boosted its holdings in Jabil Inc. (NYSE:JBL - Free Report) by 101,280.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,069 shares of the technology company's stock after buying an additional 5,064 shares during the quarter. NBC Securities Inc.'s holdings in Jabil were worth $689,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in JBL. Wellington Management Group LLP increased its position in 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 acquiring an additional 5,800,535 shares during the period. Norges Bank bought a new stake in shares of Jabil in the fourth quarter worth $218,430,000. Point72 Asset Management L.P. increased 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 purchasing an additional 878,444 shares during the period. Jacobs Levy Equity Management Inc. raised 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 worth $79,539,000 after purchasing an additional 549,347 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Jabil by 17,410.3% during 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 during the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Jabil

In other news, CEO Michael Dastoor sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $169.90, for a total transaction of $1,699,000.00. Following the completion of the transaction, the chief executive officer now directly owns 221,693 shares of the company's stock, valued at $37,665,640.70. This represents a 4.32% decrease in their position. The transaction 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 firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $166.75, for a total transaction of $3,335,000.00. Following the sale, the chairman now owns 1,710,192 shares of the company's stock, valued at approximately $285,174,516. The trade was a 1.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock worth $7,665,200 in the last quarter. 1.73% of the stock is currently owned by company insiders.

Jabil Stock Up 2.5%

Shares of JBL stock traded up $4.29 during trading hours on Friday, reaching $176.93. The company had a trading volume of 1,182,933 shares, compared to its average volume of 1,423,049. The business has a fifty day simple moving average of $149.36 and a 200-day simple moving average of $148.81. Jabil Inc. has a 12 month low of $95.85 and a 12 month high of $176.96. The company has a market cap of $18.99 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 1.65 and a beta of 1.14. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.06 and a quick ratio of 0.72.

Jabil (NYSE:JBL - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The technology company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.11. The business had revenue of $6.73 billion for the quarter, compared to analysts' expectations of $6.40 billion. Jabil had a return on equity of 41.87% and a net margin of 4.71%. The business's revenue was down .6% on a year-over-year basis. During the same period last year, the business earned $1.68 EPS. On average, research 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 quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders 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 yield of 0.18%. Jabil's dividend payout ratio (DPR) is presently 7.66%.

Analyst Ratings Changes

JBL has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Jabil from $175.00 to $154.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Barclays upped their target price on Jabil from $179.00 to $184.00 and gave the company an "overweight" rating in a report on Friday, March 21st. UBS Group raised their price target on shares of Jabil from $152.00 to $157.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. The Goldman Sachs Group dropped their price target on shares of Jabil from $175.00 to $146.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, Wall Street Zen raised Jabil from a "hold" rating to a "buy" rating in a research note on Monday, May 19th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $158.50.

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).